Analyst: Bitcoin May Underperform in Q3, Watch for Ethereum's "Catch-Up" Opportunity
Santiment analyst Brian Quinlivan stated in an interview on Wednesday that the analysis company "sees expectations on social media for Bitcoin's next 'all-time high.' Since the market often goes against retail investors' expectations, this usually means we are not yet ready for the next bull market." Quinlivan suggested that because there aren't many skeptical voices, all-time highs often don't follow immediately, but since Bitcoin has approached all-time highs multiple times, market sentiment has entered a lower position, which could potentially drive Bitcoin to break through the current high. According to CoinMarketCap, at the time of this article's publication, Bitcoin was trading at $109,679, just 2.1% away from its all-time high of $111,970, which occurred on May 22.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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