As the leading cryptocurrency Bitcoin surpassed $45,000 for the first time since January 12, analysts were divided on the direction in BTC.
According to Coindesk, Laurent Ksiss, crypto ETP expert at CEC Capital, said he expects a pullback in Bitcoin.
Stating that the reason for this correction is the possibility of investors selling profits during the rise, the expert said:
“Bitcoin's breakout of $45,000 allows early investors investing in BTC ETFs to profit.
If we continue this rise, it may lead investors to take some profits. “If profit-taking occurs, it could trigger a reversal in which BTC could test the $42,000-$40,000 level.”
Unlike Laurent Ksiss, LMAX Digital thinks that the rise in Bitcoin can continue further. Stating that at this point BTC could rise up to $50,000, LMAX Digital analysts included the following statements in their note to their customers:
“We expect Bitcoin to rise further, possibly reaching the $50,000 level.
“Technically speaking, Bitcoin has broken out of a range and could be looking for a rally towards a new yearly high of up to $50,000.”
Bitcoin continues to trade at $45,310 at the time of writing.
*This is not investment advice.
