PANews reported on September 29th that according to Cointelegraph, market analyst Jordi Visser stated that while the fourth quarter is often a buoyant period for crypto asset prices, Bitcoin's path to a record high of $112,046 is subject to corrections of 20% or more, and the fourth quarter is no exception. He compared Bitcoin to Nvidia, which has become the world's most valuable company and the first to reach $4 trillion, noting that in less than three years since the launch of ChatGPT, Nvidia's stock price has risen by over 1,000%, with five corrections of over 20% before reaching new all-time highs. This trend is expected to be true for Bitcoin. Visser predicts that the development of artificial intelligence will erode traditional companies and make stocks obsolete, leading investors to turn to Bitcoin, making it the best store of value in the digital age. Currently, while gold and stocks are reaching new highs, Bitcoin is trading around $110,000, down approximately 11% from its all-time high. Investors are divided on whether Bitcoin can reach new highs in the fourth quarter. Regulatory hurdles and the slow progress of the US's strategic Bitcoin reserve have tempered the expectations of some analysts, who previously believed that government purchases of Bitcoin would be the primary catalyst for Bitcoin's price by 2025.PANews reported on September 29th that according to Cointelegraph, market analyst Jordi Visser stated that while the fourth quarter is often a buoyant period for crypto asset prices, Bitcoin's path to a record high of $112,046 is subject to corrections of 20% or more, and the fourth quarter is no exception. He compared Bitcoin to Nvidia, which has become the world's most valuable company and the first to reach $4 trillion, noting that in less than three years since the launch of ChatGPT, Nvidia's stock price has risen by over 1,000%, with five corrections of over 20% before reaching new all-time highs. This trend is expected to be true for Bitcoin. Visser predicts that the development of artificial intelligence will erode traditional companies and make stocks obsolete, leading investors to turn to Bitcoin, making it the best store of value in the digital age. Currently, while gold and stocks are reaching new highs, Bitcoin is trading around $110,000, down approximately 11% from its all-time high. Investors are divided on whether Bitcoin can reach new highs in the fourth quarter. Regulatory hurdles and the slow progress of the US's strategic Bitcoin reserve have tempered the expectations of some analysts, who previously believed that government purchases of Bitcoin would be the primary catalyst for Bitcoin's price by 2025.
Analysts: Expect Bitcoin to experience a sharp correction before hitting a new all-time high
PANews reported on September 29th that according to Cointelegraph, market analyst Jordi Visser stated that while the fourth quarter is often a buoyant period for crypto asset prices, Bitcoin's path to a record high of $112,046 is subject to corrections of 20% or more, and the fourth quarter is no exception. He compared Bitcoin to Nvidia, which has become the world's most valuable company and the first to reach $4 trillion, noting that in less than three years since the launch of ChatGPT, Nvidia's stock price has risen by over 1,000%, with five corrections of over 20% before reaching new all-time highs. This trend is expected to be true for Bitcoin. Visser predicts that the development of artificial intelligence will erode traditional companies and make stocks obsolete, leading investors to turn to Bitcoin, making it the best store of value in the digital age. Currently, while gold and stocks are reaching new highs, Bitcoin is trading around $110,000, down approximately 11% from its all-time high. Investors are divided on whether Bitcoin can reach new highs in the fourth quarter. Regulatory hurdles and the slow progress of the US's strategic Bitcoin reserve have tempered the expectations of some analysts, who previously believed that government purchases of Bitcoin would be the primary catalyst for Bitcoin's price by 2025.
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