Investing.com — remains an “attractive” investment in the $95,000 to $98,000 price range for investors looking at a six-to-twelve-month horizon, according to Bernstein analysts, who maintain a 12-month price target of $200,000 for the cryptocurrency.
Bitcoin has surged 27% over the past 30 days, hitting several subsequent all-time highs. After surpassing $100,000 last week, Bitcoin experienced its first “leverage flush” as traders took advantage of the milestone to adjust their positions.
Analysts noted that the dip was primarily caused by traders increasing leverage at the $100,000 level, giving bears an opportunity to reduce excessive speculative activity.
“Maybe, Bitcoin takes a small ‘holiday breather’ here, before the demand breaks through the $100K wall permanently,” analysts led by Gautam Chhugani said in a note.
The world’s largest crypto asset continues to see robust demand from exchange-traded funds (ETFs) and corporate treasury…
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