K33 Research analyst Vetle Lunde stated in his latest assessment that December could be a critical turning point for the cryptocurrency market.
According to Lunde, the current market structure suggests strong upside potential, and Bitcoin’s current valuation reflects panic rather than fundamental factors. “The probability of a market breakout to the upside is much higher than the probability of another 80% crash,” he said.
K33 argues that investors are overly focused on distant threats, including the potential risks posed by quantum computing and speculation that Strategy (MSTR) might sell its Bitcoin holdings. The research firm argues that these concerns are overpriced in the market, while recent positive signals are being underestimated.
These positive developments include the possibility of allowing crypto assets in 401(k) individual retirement accounts in the US and the Fed shifting to a more supportive stance towards crypto.
K33’s assessment suggests that despite increased volatility in recent weeks, the crypto market is showing signs of a structural recovery. Analysts believe the market’s excessive fear-driven reactions will eventually stabilize, paving the way for a strong uptrend.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/analysis-firm-says-december-is-a-turning-point-for-bitcoin-predicts-what-will-happen-next/
