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06/18 07:54

‘Bitcoin Is the Best Performing Asset and Nobody W

‘Bitcoin Is the Best Performing Asset and Nobody Wants It,’ Expert Opens Up About Altcoins Bitcoin bounced from just below $59,000 to $67,000 in the space of a week, Ethereum and Solana both surged 10% to 11% in a single session, and privacy tokens, AI tokens and several of the hottest narratives from earlier in the cycle are lighting up again. The question every crypto investor is asking right now is the same one it always is at moments like this: is this the real thing or just another bear market trap? Expert John Gillen says it is too early to say. A Strong Bounce, Not a Bull Market “The market still has to prove one way or the other what this is,” Gillen said in a recent interview. He has spent the past ten months calling price targets within a downtrend and is not prepared to abandon that framework based on a single week of green candles, however encouraging they feel. His base case is that $60,000 may prove to be the cycle low but he is not yet convinced. “There’s a non-zero chance, a significant chance at this point, that retest of the lows is a double bottom pattern and we just continue higher from there. But I don’t see us just getting a runaway bullish reversal just yet,” he said. The path he expects for the summer is one of continued choppy price action with periods of both weakness and strength. Bitcoin could dip back below $60,000 before a breakout materialises. Getting above $75,000 is where he would start asking different questions about what comes next. At $67,000, he said, “it doesn’t really move the needle for me one way or the other.” Standard Chartered Called the Bottom. Gillen Is Not So Sure. Geoffrey Kendrick, head of digital assets at Standard Chartered, recently declared the crypto winter over and called $59,000 the cycle bottom. Gillen’s response was generous but cautious.#2026 World Cup Posting Challenge on HTX Square #HTX Creation Challenge — Post and Win 1,500U 💥

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