Bitcoin (BTC) continues to maintain the $30,000 level. The leading cryptocurrency, which went above this critical level with the momentum it gained at the beginning of the week, managed to gain more than 15% in a short time.
A well-known analyst responded to the question of whether this rise will reach $ 40,000. Mike McGlone, commodity strategist at Bloomberg Intelligence, said that there may be serious obstacles against Bitcoin before its $40,000 target. stated.
McGlone, contrary to the expectation that there will be no interest rate hikes in the markets, is the response of the Fed chairmen. “There may be 2 more increases.” He emphasized that the statements made may have a negative impact on the assets. He also said that the Nasdaq may have hit a local top, which could limit the rise in Bitcoin. He also underlined that the risk of recession in the USA is still preserved.
In addition to all this, he pointed out that the BlackRock application, which started the rise in the crypto money market, may not be concluded this year. The expert analyst stated that with these reasons, Bitcoin may have difficulty reaching $ 40,000 in the coming period.
The leading cryptocurrency continues to trade at $ 30,400 at the time of writing.
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