Bitcoin's Year-End Prospects Look Highly Bullish Says On-Chain Analyst Will Clemente – Here's Why.
11 Oct 2021, 08:00
Bitcoin’s Year-End Prospects Look Highly Bullish Says On-Chain Analyst Will Clemente – Here’s Why
On-chain analyst William Clemente says Bitcoin’s (BTC) outlook for the latter half of this year remains highly bullish.
In Blockware Intelligence’s latest report, Clemente says that in the immediate short term, Bitcoin could see a pullback before any bullish momentum continues.
According to the on-chain analyst, multiple factors including whales taking profits and highly liquid entities taking possession of BTC could signal some vulnerability for the top crypto by market cap.
“Short-term outlook: seeing some coins move from liquid to highly liquid entities, exchange flows neutral, some whales taking profits, funding spiking while market cap/OI (open interest) increasing. Wouldn’t be surprised to see a short-term pullback to around $53,000 and at the lowest, a retest of PoB (point of breakout).”