Southern Dongying Executive Director: Bitcoin may rise to 80,000 US dollars within one or two months
Bitcoin has been on a strong upward trend this year, accumulating nearly a 50% increase since the beginning of the year. At the beginning of this month, it even broke through $70,000, driving capital inflow into related assets. Li Xueheng, Executive Director and Head of Distribution Sales at Southern Dongying Asset Management Co., Ltd., said in an interview that Bitcoin's price has retraced from its high to around $65,000. The bull market cycle that began at the start of the year was driven by factors such as U.S.'s approval for spot ETFs, Bitcoin halving and completion of U.S.'s interest rate hike cycle. He is optimistic about future increases in Bitcoin prices. After reaching new highs, he expects there will be an adjustment period of approximately 10 to 20 days for Bitcoin and estimates it could reach $80,000 within one or two months with next key level being $100,000.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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