Bitcoin Extends Rebound With Chartists Eyeing Bullish Technicals

At BTIG, strategists including Julian Emanuel and Michael Chu, reiterated a year-end price target of $50,000 for Bitcoin and $5,000 for Ether, writing in a note last week that they would “take advantage of the present weakness.” The rationale for a 1%-to-3% portfolio allocation toward digital assets “is stronger than ever,” they said, citing the “transformational power of blockchain” and “a store of value in an increasingly uncertain and inflation-prone world.”


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