"Bitcoin likely to undergo several corrections during the process of reaching an all-time high"
Uk Jin
Summary
- "Bitcoin (BTC) is expected to undergo repeated large corrections of around 20% on its way to an all-time high."
- "Citing NVIDIA's share price rising tenfold in less than three years and experiencing more than 20% corrections five times, he said Bitcoin could follow the same path."
- "Biseo said the spread of artificial intelligence (AI) could lead to a flow of funds from traditional companies into Bitcoin."
Bitcoin (BTC) is expected to undergo repeated large corrections of around 20% on its way to a new all-time high.
On the 29th (KST), analyst Jordi Biseo said, "Leading stock NVIDIA experienced five corrections of more than 20% during the period when its share price rose tenfold in less than three years after the launch of ChatGPT," adding, "Bitcoin could show the same trend."
Biseo explained, "The spread of artificial intelligence (AI) could weaken the value of traditional companies, prompting a flow of funds into Bitcoin."
As of 7:30 AM that day, Bitcoin was up 1.96% from the previous day at 111,861 dollars.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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