Bitcoin Market Decline a 'Healthy Retracement,' Says MARA's Thiel

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Bitcoin is experiencing its fourth annual decline, down 7% for the year, but MARA's Chairman & CEO Fred Thiel expects a 'healthy retracement' to lead to a strong performance in the coming year.

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Market impact analysis based on bullish sentiment with 82% confidence.

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Bullish
ثقة الذكاء الاصطناعي
82%

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Bitcoin is headed for its fourth annual decline in its history, falling as much as 5.2% and is now about 7% lower for the year, with volumes low and investors bailing on Bitcoin ETFs. The bear market means Bitcoin has decoupled from stocks, with the S&P 500 closing at a record earlier this month and up 16% for the year, while Bitcoin has struggled to find a footing, indicating traders are staying on the sidelines, at least for now. MARA Chairman & CEO Fred Thiel, however, expects a great performance from Bitcoin over the course of the coming year despite a 'healthy retracement' in the marketplace. He joined Carol Massar and Tim Stenovec on 'Bloomberg Businessweek Daily' to break it down.

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