Bitcoin holds $59,000 after brief dip, Jordan Kerridge notes

Bitcoin holds $59,000 after brief dip, Jordan Kerridge notes
Bitcoin back above $59,000 mark

Jordan Kerridge highlights that Bitcoin has regained the $59,000-$59,500 support area after dropping below it the previous day. However, Kerridge cautions that this recovery may not significantly change the broader outlook, as the failed attempt to reclaim around $61,000 remains a key resistance level. As long as Bitcoin trades below that range, Kerridge suggests a cautious stance.

Kerridge has previously pointed to major long-term returns in equities. He reported that a $1,000 investment in Tesla in 2011 would now be valued at $380,000 over 15 years, according to historical calculations. In another analysis, he highlighted that $10.41 invested in IBM shares in 1932 would exceed $1 million after 94 years, based on share price growth.

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