Experts optimistic about bitcoin’s price

Roundtable anchor Rob Nelson, Sam Price, Host of Crypto Lifer, and David Gokhshtein, Founder of Gokhshtein Media, recently shared their insights on the factors contributing to bitcoin’s bullish momentum

Bitcoin’s price is on the rise again, staying above $67,000, and market experts are increasingly optimistic about its future trajectory.

Roundtable anchor Rob Nelson, Sam Price, Host of Crypto Lifer, and David Gokhshtein, Founder of Gokhshtein Media, recently shared their insights on the factors contributing to bitcoin’s bullish momentum.

Rob Nelson observed a noticeable shift in bitcoin’s volatility patterns. We are seeing bitcoin, its prices moving back up and that’s good news, he said. The volatility to me is getting less and less. We are seeing it more move in a direction and then maybe it moves a little the other direction, but it seems to be doing less of this and more of a slower up down.

Sam Price attributed part of the upward trend to historical market behaviours, referencing the so-called “Halloween effect.” He said: if you are just kind of a simple trader and you don’t do much for the last 10 years, if you bought around now and held for a year, you made money. They even call it the Halloween effect. It is actually a known trader thing for years.

David Gokhshtein remained steadfast in his bullish outlook, highlighting recent Fed actions as a catalyst. When the Fed came out and cut rates by 50 bps and they’re also going out there and talking about cutting rates again by the end of this year, it is bullish for the entire market, he said. There’s money on the sidelines. I think it’s slowly coming in.

As the year progresses, these experts anticipate significant growth in bitcoin’s value. I’m super bullish that we close out the year at least $80,000 to $85,000, Gokhshtein said. And this is all happening before we actually have the President-elect being announced.