Bitcoin Bull Market Intact As Risk Increases

(16min)

Summary

  • Our updated target for this next push higher is between $82,000 and $106,000.
  • The current imbalance between supply and demand is favorable for a sustained uptrend. This was one of the thematic catalysts that, we believed, would propel Bitcoin over $100,000.
  • While we still believe the original price targets of $106,000-190,000 are attainable, we do believe risk has increased.
  • Looking for more investing ideas like this one? Get them exclusively at Tech Insider Network. Learn More »

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Daniel Balakov

In December 2022, when Bitcoin was trading around $17,000, we boldly stated that "Bitcoin is a buy." At the time, we were beginning to position for a new Bitcoin bull cycle. We even posted a chart in this report

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This article was written by

Knox Ridley profile picture
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Knox Ridley began consulting on portfolios in 2007 and is an experienced growth investor in both bull and bear markets, which is hard to find these days. As the portfolio manager of the Tech Insider Network, he beat the top-performing funds on Wall Street in 2020, 2021, 2022, and 2023. His real-time trade notifications to premium subscribers have garnered 27 entries with over 100% gains. Knox began his career as an ETF wholesaler in 2007 before becoming a portfolio consultant for large RIAs, FAs, and Institutional accounts. He is very keen on macro trends and is trained in Fibonacci Trading, Elliott Wave theory, as well as Gann Cycles. He also uses classical technical analysis to manage risk and identify great risk/reward setups. Knox is known for increasing and decreasing allocations for record-breaking returns.

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of BTC-USD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

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