Why expert describe bitcoin as "dead cat bounce"

Lens1000

VIP Contributor
The price of bitcoin as continue to hova around $40,000 with some price analyst describing it as a "dead cat bounce"

Market experts appear divided over whether the bounce back was part of a longer term bull market trend that will see bitcoin hit new record highs in 2021, or whether it is simply following the same pattern seen after the 2017 price peaks.

The president of Tanzania has shown interest in adopting bitcoin as legal tender, Tunisia’s finance minister wants to decriminalise cryptocurrency and this is a laudable gesture

There has been plenty of good news in the crypto space in recent days, which has contributed to positive forecasts and price predictions in the region of $250,000 in 2022

Do you think this predicted figure is achievable?
 

sincerem

VIP Contributor
BTC is not dead yet, we have forgotten so soon the bullish run of BTC that dated back from November ending to April ending. That saw it, moved from $11,000 to $64,000 within the interval of five months. Those who invested back then and earned decent amount never called it dead cat bounce, but now its going the wrong way they aren't happy at all. Let's be optimistic it will move up sooner rather than later.
 
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