Experts stated that Bitcoin’s
Victoria Scholar, head of investment at Interactive Investor, noted that concerns about an AI market bubble and reliance on major tech firms have led investors to reduce their exposure to risky assets like Bitcoin.
However, on-chain analyst Rational Root said in a podcast released on November 19 that the government shutdown was not to blame.
Did you know?
Subscribe – We publish new crypto explainer videos every week!
What is the Metaverse? (Meaning + Animated Examples)
He said, “I wouldn’t contribute the drawdown in Bitcoin all to the shutdown of the government”.
According to him, Bitcoin’s fall from its October peak of $125,100 was more likely linked to “too high levels of futures leverage in Bitcoin”. Despite the market drop, Rational Root said the situation might present new opportunities.
He explained that during the past three years of the bull market, Bitcoin has experienced three major corrections similar to those seen in bear markets.
Another analyst, PlanC, also dismissed the idea that AI-related worries affected Bitcoin’s price. They stated on X:
We can remove the AI Bubble thesis from the list of reasons Bitcoin is down.
He added that the main factors now are the typical “four-year cycle” of Bitcoin and delays in global liquidity. Yet he also mentioned that the usual cycle pattern could be losing strength.
Bitcoin’s price climbed on November 10 as McDonald’s prepared to bring back its McRib sandwich in the United States. What did McDonald’s Senior Marketing Director Guillaume Huin say? Read the full story.
