Galaxy Research Director: From a fundamental perspective, the market does not appear overheated
Bitcoin has set multiple historical highs this week, but has not shown any signs of being "overheated". Several analysts pointed out that some fundamental factors indicate that Bitcoin may continue to rise.
"From a fundamental perspective, the market does not appear to be overheated," said Alex Thorn, head of Galaxy Research, in a market report on November 7.
Aurelie Barthere, an analyst at the crypto analysis company Nansen, expressed a similar view. "Bitcoin's breakthrough of historical highs under high trading volume is a clear signal of continued positive momentum after the election," Barthere explained in a market report on November 7.
Barthere pointed out that after Donald Trump won the US presidential election on November 5, traders began to "re-adventure", which was reflected in the recent upward trend in the crypto market.
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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