{"id":193639,"date":"2023-09-13T17:40:27","date_gmt":"2023-09-13T17:40:27","guid":{"rendered":"https:\/\/tokenstalk.info\/?p=193639"},"modified":"2023-09-13T17:40:27","modified_gmt":"2023-09-13T17:40:27","slug":"bitcoin-at-25k-discount-or-disaster","status":"publish","type":"post","link":"https:\/\/tokenstalk.info\/crypto\/bitcoin-at-25k-discount-or-disaster\/","title":{"rendered":"Bitcoin at $25K: Discount or disaster?"},"content":{"rendered":"

In the latest episode of The Market Report<\/em>, Cointelegraph analyst Marcel Pechman delves into Bitcoin\u2019s (BTC) latest bounce at $25,000, which some analysts and influencers argue represents a short-term buying opportunity. Pechman explains that Bitcoin\u2019s inverse correlation with the U.S. Dollar Index has only held for 40% of the previous 20 months, meaning it is likely not a good metric to anticipate price movements.<\/p>\n

The show then shifts focus to a recent Glassnode report revealing that the amount of BTC changing hands is at its lowest since October 2020, citing investors\u2019 \u201capathy\u201d and \u201cexhaustion.\u201d Pechman argues that bulls got tired after the United States Securities and Exchange Commission\u2019s relentless action to pursue Coinbase and Binance. Ultimately, Pechman disagrees that Bitcoin\u2019s recent movement to $25,000 presents an opportunity for buyers, given that the short-term risk-reward ratio near the current price level is around 50:50.<\/p>\n

For the show\u2019s next segment, Pechman analyzes the prediction made by Davis Hui, vice president of Bitcoin miner Canaan, that\u00a0BTC will hit\u00a0$100,000 in 2024 based on the halving and a spot exchange-traded fund (ETF) approval. First, Pechman explains that BlackRock\u2019s $10 trillion in assets is merely a mirage, as 55% is stuck in fixed-income investments and $2.8 trillion is already invested in other ETFs such as commodities, the S&P 500 index, global emerging markets and alternative investments.<\/p>\n

Furthermore, Pechman raises the risk of current holders deciding to flip their positions previously bought at $60,000, $50,000 or even $40,000 if Bitcoin\u2019s price were to shoot up, meaning the offer side is never predictable regardless of miners\u2019 incentives. Lastly, Pechman explains that a spot Bitcoin ETF has been a dream for the past eight years, and nothing has changed to refute the SEC\u2019s reasons for dismissal, namely stablecoin trading volumes and unregulated offshore exchanges.<\/p>\n

Check out the latest episode of The Market Report, available exclusively on the\u00a0Cointelegraph Markets & Research YouTube channel.<\/p>\n

Collect this article as an NFT<\/em><\/strong> to preserve this moment in history and show your support for independent journalism in the crypto space.<\/em><\/em><\/p>\n

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author\u2019s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

In the latest episode of The Market Report, Cointelegraph analyst Marcel Pechman delves into Bitcoin\u2019s…<\/p>\n","protected":false},"author":4,"featured_media":193638,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nBitcoin at $25K: Discount or disaster? - Tokens Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tokenstalk.info\/crypto\/bitcoin-at-25k-discount-or-disaster\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin at $25K: Discount or disaster? - Tokens Talk\" \/>\n<meta property=\"og:description\" content=\"In the latest episode of The Market Report, Cointelegraph analyst Marcel Pechman delves into Bitcoin\u2019s...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tokenstalk.info\/crypto\/bitcoin-at-25k-discount-or-disaster\/\" \/>\n<meta property=\"og:site_name\" content=\"Tokens Talk\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-13T17:40:27+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tokenstalk.info\/wp-content\/uploads\/2023\/09\/Bitcoin-at-25K-Discount-or-disaster.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tokenstalk.info\/crypto\/bitcoin-at-25k-discount-or-disaster\/\",\"url\":\"https:\/\/tokenstalk.info\/crypto\/bitcoin-at-25k-discount-or-disaster\/\",\"name\":\"Bitcoin at $25K: Discount or disaster? 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