According to the co-founders of Grayscale, Bitcoin (BTC) is about to break the resistance above $30,000 after a reduction in external pressure on the market.
The leaders of Jan Happel and Yann Alleman, one of the most relevant analysis firms in the cryptocurrency ecosystem, told on twitter that they are Confident in his medium term estimate of USD 35,000 for each BTC. “Because of less external pressure,” he argued.
According to analysts at Grayscale, a price of $35,000 for each bitcoin could be reached by the middle of this year. Possibly extended by the Fed’s June meetings. In them, he will not announce a hike in interest rates, he predicts.
Grasycale’s co-founder also hints that the Dollar Index (DXY) will point to a downside in the medium term” Crossing Below an Important Moving Average”.
"Buy when there is Blood in the streets."
📉$25.8k still remains a possibility, as indicated by the options market
🔮 Confident in our mid-term outlook of $35k as external pressures subside.
💼 Market pricing Fed pause in June, no rate cut – optimal for the run to $35k for… pic.twitter.com/xBnIyHK5A0
— 𝗡𝗲𝗴𝗲𝗻𝘁𝗿𝗼𝗽𝗶𝗰 (@Negentropic_) May 12, 2023
To all of the above, the leaders of this analytical company estimate “Explosive movement” in the price of bitcoin. And logically given the relevance of BTC to the rest of the market.
Grasycale analyst estimates are given when BTC It is traded in the order of USD 27,103 At press time, according to Coinmarketcap. This is a recovery of 1.05% from the previous day when it averaged around $26,860.
The current price of BTC is a shock after touching USD 30,000 last April and touching it again in early May. The correction, reported a few days ago by Cryptonoticius, was a response to massive network congestion.