Expert Believes That Bitcoin Will Hit Another Notable High
The digital asset space has been very excited following the recent impressive price point Bitcoin hit. The asset has seen some consolidation for some weeks before hitting the $64,000 high, and it is currently trading at around $62,956 at press time. The asset has added notable gains for holders, which has led to sell-offs as holders are taking their profits to enjoy these recent gains.
While some see these new declines as a sign that the crypto is cooling off, others see it as an opportunity to Bitcoin as Vailshire Capital believes that the crypto is highly bullish and would add more notable gains.
Valishire Capital predicts Bitcoin hitting another high
Experts believe that Bitcoin would likely add more notable gains as Valishire Capital pushes people to buy assets as it predicts more bullish movements for the cryptocurrency. The asset has dropped at around 3.3% from its all-time high and has finally retraced to some notable support points.
The crypto is presently around the consolidation level after hitting new highs following the $65,000 hit and has cooled due to the growing selling pressure weakening the momentum. Some sources have linked Bitcoin’s new movements to Coinbase’s public listing, and that could help the crypto attract more buyers as it looks to hit the $70,000 mark.
In March, the crypto hit another notable record, but the asset fell almost immediately, which could be seen as the crypto’s failure to maintain bullish momentum. This is no longer the case as Bitcoin has added incredible gains and would likely push more boundaries on its goal to hit new highs.
The fund manager’s Top executive, Jeff Ross, spoke on the king coin’s latest movements. He believes that if Bitcoin successfully witnessed another support-resistance flip, it would likely continue to move on the upside. The CEO explained through his Twitter handle that Bitcoin is widely bullish, and this has caused some uproar on social media as digital asset holders plan to HODL their crypto to benefit from the next price gain.
Jeff Ross speaks on Bitcoin’s movements
Ross explains that Bitcoin would likely retrace to the $61,000 mark and would go higher. This, he believes, is an opportunity for buyers to buy more of the asset before it adds more notable gains. Statistics show that sellers had to cool off their selling pressure to allow the asset to hit the $65,000 mark before continuing the continuous buys and sells. Some statistics on Binance show the growing sell orders as sellers have moved to $65,000, with strong resistance levels being at the $70,000 mark.
Some experts believe that the decline is short-term as it’s normal for digital assets to see a price decrease after hitting some notable gains. Still, sellers are keeping watch of the current price movement, which could mean that they are eager to sell more of the cryptos as it records new gains. The digital asset continues to grow despite the criticism the industry faces, and this has helped notable firms within the network make expansion plans to attract more buyers.