Executives from major companies maintain that the Bitcoin cycle is not over, attributing recent drawdowns to sentiment shocks rather than fundamental issues. They predict a continued rally toward $160,000 unless the price falls below the March 2024 all-time high. December started with a market drop amid directionless volatility.
The Bitcoin (BTC) market experienced a drawdown at the start of December, characterized by directionless volatility. However, chief investment officers (CIOs) from major companies argue that this cycle is far from concluded. They emphasize that the price decline stems from sentiment shocks, not any deterioration in underlying fundamentals.
According to these execs, the rally should persist toward $160,000 in the near term, provided BTC does not drop below its March 2024 all-time high (ATH). This perspective offers reassurance to investors navigating the current market turbulence, highlighting resilience in Bitcoin's trajectory despite short-term fluctuations.
The ongoing cycle reflects broader confidence in cryptocurrency's potential, even as external sentiment influences temporary setbacks. No specific companies or individual CIO quotes were detailed in reports, but the consensus among these leaders underscores a bullish outlook absent a breach of key support levels.