Bitcoin was on its way to $80,000 this week, and the large-scale flattling of empty silos and the upswing of spot purchases led the market to reopen the discussion as to whether the turnback was at its bottom. Foreign media reports indicate that while bitcoin has re-energized, analysts have begun to turn their eyes to the changes in the performance of the relatively bitcoin in the Taipei.
Bitcoin's short-line feeling back.
In Milk Road Show, analyst John Gillen said that the recent price trend had changed his judgment in the direction of the bitcoin. He anticipated that bitcoin would have an opportunity to stand over $82,000 in the coming week.
He did not, however, describe this judgement as a unilateral determination, but rather as the market still at a stage of choice of direction. According to him, it is more like a swing between “relapsing upwards” and “reactions after rebounding”, except for the present moment, when kinetic energy and acupuncture prevail.
Long-term trend changes in ETH/BTC
Gillen is more concerned with the relatively strong and weak indicator of ETH/BTC than it is with short-line fluctuations in bitcoin. He mentioned that the rate had been on a downward trend for about 10 years and that there had been signs of an upward breakthrough in the recent past.
If this change is established, it would mean that the relatively bitcoin vulnerability pattern of the Taifeng is likely to begin to loosen. For the market, it is not only a change in the price of a single currency, but also a matter of whether the allocation order between the two will be reassessed by mainstream finance.
The Ether's base is still holding.
Gillen did not directly judge that the so-called “turnover” was about to come, but he pointed out that monetization, securitization and what he termed “agent-type financial” activities were still mostly concentrated in the Etherpo. This maintains a strong sense of presence on the relevant tracks.
In his view, technological morphological changes coexisted with the application of the chain and were now a combination of signals worthy of continued observation. He cautioned, however, that this breakthrough by ETH/BTC could still be a false one, and that the follow-up would not preclude a return to the long-term downward trend line.
Overall, the core of this commentary is not the assertion that the ETA will win bitcoin in the current round, but rather the belief that, against the background of a strong rebound of bitcoin, the relative performance of the ETA is changing infrequently, and that its continuation will become a new observation point for the market.