- Bitcoin, the leading cryptocurrency, has been experiencing a turbulent market since its new ATH in March.
- Despite the recent downturns, YouHodler analyst Sergei Gorev remains optimistic for Bitcoin and the crypto market as we enter May.
- Gorev predicts a possible short-term decline, but expects the price to exceed $80,000 in the medium term.
Amidst market volatility, expert analyst Sergei Gorev shares his short and medium-term price expectations for Bitcoin, predicting a potential rise above $80,000.
Bitcoin’s Market Volatility
Bitcoin, the leading cryptocurrency, has been stirring the market since it reached its new all-time high in March. However, the downturns that began in April have left many investors who were expecting a rise in a difficult position, leading to the liquidation of many long positions. The subsequent recovery in the BTC price has now led to the liquidation of short positions.
Analyst’s Optimistic Outlook
Sergei Gorev, an analyst at YouHodler, spoke to The Block, stating that despite investors continuing to open short positions, technical and fundamental analysis indicators are optimistic for Bitcoin and the crypto market as we enter May. He noted that due to this, there could be continued downward pressure in the short term.
Predictions for Bitcoin’s Price
Although Gorev argues that there could be a decline in the short term, he expects the rise in Bitcoin to continue and predicts that the price will exceed $80,000 in the medium term. He also mentioned that the current correction could continue into the next week, with a possibility of reaching $52,000.
Conclusion
Despite the current market volatility, experts like Gorev remain optimistic about Bitcoin’s future. While short-term declines are possible, the medium-term outlook suggests a potential rise above $80,000. As always, investors are advised to do their research and invest responsibly.
