Bitcoin bears predict $40,000, fear-driven market won’t last

Columns：Bitcoin author：BTCZXW time：2024-09-07 15:47:49

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The Bitcoin market is in a state of volatility, with many analysts predicting a drop to $40,000 based on “self-induced fear.” Samson Mow, CEO of Jan3, reiterated that fear in the short term is not enough to support such a prediction.

“The market will not be driven by fear for long, as fundamentals will eventually prevail,” Mow noted. He stressed that despite the recent price volatility of Bitcoin, Bitcoin has the potential to reach $100,000 as macroeconomic factors take over. This is an important moment that reflects the divergence between market sentiment and fundamentals.

Let’s keep an eye on the developments in this space and how to find opportunities in the changes. If you have any thoughts on the current market situation, please share your thoughts in the comments.

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