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19 April 2021

The next big Bitcoin price move: Optimism is high, but is it justified?

The next big Bitcoin price move: Optimism is high, but is it justified?

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Regardless, analysts, such as Filbfilb, co-founder of trading suite DecenTrader, and Willy Woo believe that with the Coinbase IPO looming large on the horizon, Bitcoin seems primed for big things in the near term, especially as the premier crypto continues to exhibit seven-day gains of over 13%.

Regarding whether the market seems to be heading price action-wise and where BTC may find support next, independent analyst CryptoYoda told Cointelegraph that he believes there will likely be a further acceleration and a more steep parabolic advance, which will most likely become visible in the near term, adding:.

For example, Todd Crossland, CEO of cryptocurrency exchange CoinZoom, believes that mass adoption of Bitcoin and other digital assets is only just starting, adding: “Every corporation in the world is either already embracing Bitcoin, or they are researching strategies for how they can join the movement.”.

On the subject of whether BTC can ever scale down to extremely low price levels ever again, Cointelegraph spoke with Luuk Strijers, chief commercial officer for futures and options trading platform Deribit, who pointed out that according to the options data available to him at the moment, the market seems to suggest sub-10K levels scenarios have a very slim probability of materializing.

Also, after the above-stated options expiry, as well as the Visa, PayPal and Goldman Sachs announcements, Strijers believes that the market will gradually move upward again.

According to Zhou, market participants all over the world have spoken and loudly affirmed that they view Bitcoin as a tangible long-term store of value.

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