Summary
Bitcoin’s price hit an all-time high above $69,000 but then fell to $61,300. Some industry experts believe this time is different due to institutional investor interest and upcoming events like the bitcoin halving. Predictions range from a potential rise to $350,000 to a correction back to the mid-to-low $40,000 level.
Key Points
1. Bitcoin’s price tumbled after hitting an all-time high above $69,000 on Tuesday, with industry watchers having differing views on its future trajectory.
2. Some believe that this time is different in terms of the price fall post-all-time high, with strong momentum for spot bitcoin ETFs and institutional investor inflows driving the current surge.
3. While some analysts predict a potential correction in the near-term, others see a bullish outlook for bitcoin, with price targets reaching as high as $350,000 in the medium-term.