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Despite all the positive and negative news, the leading cryptocurrency Bitcoin (BTC) continues its sideways trend. Although this situation is interpreted as ordinary quietness before a block reward halving, analysts’ comments on this indicate different situations. One of the new BTC comments comes from famous analyst Raoul Pal. Is Bitcoin returning to a live period with its volatility?
Raoul Pal Shares His Bitcoin Comment
The famous figure, who is a former Goldman Sachs executive, emphasized how little liquidity there is in the cryptocurrency market. The famous figure with 1 million followers also stated that BTC is on its way to becoming a black hole that absorbs all other asset classes, including cryptocurrencies. The analyst expects BTC price to revive and experience a new movement in the coming days. The analyst, who stated that the BTC chart is close to a new breakout, illustrated this with examples of the last 3 movements.
Another comment supporting Pal’s comments came from famous analyst and head of macro research department, Julien Bittel. Bittel stated that BTC, ETH, and SOL are expected to rise in the fourth quarter of this year. This actually means that a new rally will start as of September. The effect of the BTC price breaking the $30,000 and then $32,000 levels can definitely be expected or contribute to this.
Bitcoin Live
SOL has become one of the fastest rising top 10 coins in the last month and has officially severed its connection with FTX. Ethereum, on the other hand, continues to achieve sustainable growth with the burning of ETH and the growth of the decentralized ecosystem. Pal and Bittel also expect a big jump in the ETH/BTC pair for this reason.
In the last 7 days, ETH has actually resisted the decline more than BTC, and this statement seems much more logical and reasonable in this context.
