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Bitcoin Predicted To Reach $238,298, Here Are Views on BTC’s Long Term Prospect; Coinshares Doubles XRP Holdings

Bitcoin

LookIntoBitcoins’ price prediction tool predicts a BTC high of $238,298, while the delta top indicator predicts a high of $119,886. The terminal price indicator also predicts a price of $107,801.

After failing to reach the long-anticipated $100,000 milestone in 2021, several crypto analysts are concerned about the prospects for the next six to twelve months.

BTC is currently trading near $29,000, and many technical indicators show that an additional decline is more likely than a recovery above the $35,000 to $40,000 level. Several observers feel that Bitcoin has not yet reached its bottom.

According to crypto analyst Ali Martinez, BTC could reach a market bottom anywhere between $22,380 and $15,110, based on the Logarithmic Regression Bands.

In late March, crypto analyst “Wolves of Crypto” shared an analysis of the four-year cycle, predicting that “the most probable bear market bottom for Bitcoin will occur in November/December 2022.”This forecast assumes that the peak BTC price of $68,789 on November 10, 2021, was the last cycle’s high, and that the market is currently in the corrective period that follows a cycle top.

Bear markets, while difficult in the near term, often provide excellent buying opportunities for long-term investors. It’s crucial to remember, though, that not all cryptocurrencies will return to their former glory when the next bull phase begins.

Traders should aim to find the cryptocurrencies that are leading the market rather than buying the laggards because every bull market has a new group of leaders. Nic Carter expressed it perfectly when he noted that “some things die permanently” and that “not everything will make a comeback.”

Bitcoin traded at $29,433 at the time of publication.

Coinshares Double XRP Holdings

In its latest Q1 2022 report, CoinShares says it has generated strong results despite negative price action in digital assets in the first half of the quarter and ongoing regulatory uncertainty across Europe and the US. It says that its total revenue for the quarter stood at £18.0 million as against the Q1 2021 figure of £17.1 million.

The Group held £5,738,972 worth of XRP as of March 31, 2022, up from £2,668,536 recorded at the close of 2021.

Image Credit: Shutterstock

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