Analyst: $100,000 may have become a high threshold for BTC investors to further profit, even an obstacle
Trade Nation's senior market analyst, David Morrison, stated that although "$100,000" is a nice round number, it seems to have become a high threshold or even an obstacle for Bitcoin investors to further profit. If Bitcoin starts to fall from now on, it could be all the market has shown, especially if long-term holders decide to cash out in advance.
However, David Morrison also pointed out that the upward momentum of Bitcoin may very likely accumulate enough energy to push the price through the $100,000 mark. Once this resistance level is broken through, it could potentially trigger another surge in Bitcoin's value.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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