Bitcoin’s rise to $73K is seen as a “coin flip” because the market is uncertain.

Since Bitcoin’s price is below $60,000 right now, it has caused confusion in the cryptocurrency market. Ethereum and other altcoins have followed suit. Investors are wondering if this downward trend will last or if there will soon be a rise in prices.

Chief Investment Officer at IDX Advisors Ben McMillan commented on Market Domination and said that a possible slowdown could have a big effect on Bitcoin’s future performance. “Crypto tail risks could emerge from a significant deterioration in macroeconomic data,” he said. He said this could cause Bitcoin to fall below $50,000 and maybe even test $40,000 again.

When asked if Bitcoin would hit a new high of $73,000, McMillan said it was a “coin flip” that depended a lot on how the economy was doing. “A lot depends on whether we go into a recession and how bad it is,” he said, adding that rate cuts of up to 100 basis points are already priced into the markets. “We might see more risk-off moves if we only see 75 basis points,” McMillan said.

Bitcoin’s future is still very unclear, so investors should be ready for turbulence.