Bitcoin on a Bullish Path: Defiance CEO Joins $100K BTC Prediction Train
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Defiance CEO Sylvia Jablonski, who is also the co-founder and chief investment officer of the company, noted:
“I remain completely bullish on Bitcoin. I think the short-term activity is just noise.
It looks as though, in terms of what we’ve seen for the last six months to a year or so, is that Bitcoin is correlated with risk assets and equities specifically.”
Jablonski explained that investors typically troop into Bitcoin, Ethereum, and other cryptocurrencies whenever the market records a parabolic run over a few days. Likewise, she elaborated that “when you do see pullbacks, they seem to be hitting Bitcoin too.”
Speaking on the BTC inflation hedge narrative, the CEO acknowledged that “a couple of years ago, a lot of us thought that Bitcoin was going to be this great inflation hedge and it was going to react in a similar way to gold and it was going to be this safe-haven inflation trade, but I think it’s trading more like a Nasdaq 100 stock than it is like an inflation trade.”
However, she predicted that “In the short term it’s going to be sideways volatility, it’s going to be range-bound price action, but longer-term, I still expect Bitcoin to be in that $100,000 camp before I expect it to go to zero,” elaborating:
“I still think it’s kind of a good time to get in.”
Key Bitcoin Levels to Watch — April 3
Bitcoin has entered bullish conditions on Sunday, as the price crosses the hourly 100 EMA after crashing below on Thursday. The benchmark cryptocurrency now fights to re-enter the medium-term channel, which should help it secure the bullish rebound.
That said, BTC is also on the verge of breaking out of the short-term wedge top around the $46.8K level. With the prevailing market sentiment, we should see a return above the $47K resistance over the coming hours as traders eye the $50K psychological top.
Meanwhile, my resistance levels are at $47,000, $48,000, and $48,500, and my key support levels are at $46,300, $46,000, and $45,800.
Total Market Capitalization: $2.17 trillion
Bitcoin Market Capitalization: $885.8 billion
Bitcoin Dominance: 40.8%
Market Rank: #1
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