Markus Thielen, founder of 10x Research, stated that although Bitcoin is likely to continue its current upward trend, reaching a new all-time high in the short term seems unlikely. Thielen believes that Bitcoin could rise significantly, but new record highs may not occur anytime soon.
Thielen, known for his cryptocurrency market analyses, has taken a cautious stance regarding Bitcoin's future price movements. The analyst said that the market's growth potential has not completely disappeared, and Bitcoin could experience significant appreciation. However, he expressed low expectations that this growth would lead to a new price record being set in the short term.
Thielen's assessment specifically highlighted the $100,000 level. In the analyst's opinion, Bitcoin reaching the $100,000 mark would itself be a significant milestone. Surpassing this level is considered an important achievement for the long-term trajectory of the cryptocurrency.
Although Bitcoin's sharp rallies in previous market cycles have heightened investor expectations for new all-time highs, analysts note that price action should not be evaluated solely based on past performance. Macroeconomic conditions, global liquidity, interest rate policy, and institutional investor interest in the market continue to play a decisive role in determining Bitcoin's direction.
Thielen's statements do not mean bullish expectations in the market have completely vanished. On the contrary, the analyst acknowledges that Bitcoin could undergo significant appreciation but does not expect this movement to immediately reach a new record high.
For market participants, the $100,000 level thus stands out as a critical psychological threshold. Bitcoin reaching this level, even if a new all-time high is not achieved, could be viewed as a significant signal regarding the market's long-term bullish potential.
*This is not investment advice.
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