BTC Sharp Correction Incoming?...Analyst Claims 'Ample Demand' Will Counteract
CryptoNewsTerminal Staff10 Sep, 2024
BTC Sharp Correction Incoming?...Analyst Claims 'Ample Demand' Will Counteract
Axel Adler Jr., an on-chain analyst, recently stated that Bitcoin (BTC) has not yet experienced a significant correction in this cycle. However, he emphasized that the lack of a correction does not necessarily imply that it will occur, as strong demand often mitigates the need for one. Adler Jr. explained that as the value of the US dollar declines, the attractiveness of BTC for investors increases. Additionally, if the Federal Reserve decides to cut interest rates, the Dollar Index (DXY) could decline, potentially leading to an increase in BTC's price. Furthermore, the analyst highlighted that the Price and Volatility-Based Risk (PVR) for BTC has decreased from 12% to 6% over the past decade, indicating increased market stability and reduced volatility. A further decline in PVR could attract institutional investments.
