Founder of Collective Shift, Ben Simpson, stated that Bitcoin has formed a local bottom and is heading towards an upward trend. He pointed out that the price of Bitcoin has been negatively impacted by the German government's sale of nearly 3 billion US dollars and the repayment of about 8.5 billion US dollars by Mt. Gox creditors. Simpson believes that there is a mismatch between market sentiment and fundamentals and predicts several bullish factors for Bitcoin in the coming weeks and months, including potential rate cuts and new highs in the S&P 500 index.

Odaily Planet Daily News: Ben Simpson, the founder of the encrypted education platform Collective Shift, stated that a "local bottom" for Bitcoin has now formed and believes it is now heading towards an upward trend. Simpson mentioned that Bitcoin's price has been hit by a significant amount of "forced selling," with most of it coming from the German government's nearly $3 billion sell-off and the negative sentiment surrounding the repayment of around $8.50 billion to Mt. Gox creditors. Simpson said, "Overall, I just feel there is a significant mismatch between market sentiment and fundamentals." Looking ahead, he believes that in the coming weeks and months, Bitcoin's price will see several key bullish factors, "Powell hints at a possible rate cut soon. We also see the S&P 500 hitting new highs and strong inflows of Bitcoin ETF funds." (Cointelegraph)

Founder of Collective Shift predicts Bitcoin will see an upward trend.