Bitcoin
BTC
XRP
Subscribe now Forbes Crypto Assets and Blockchain Advisor And ahead of next year's historic Bitcoin halving, we will “unveil the blockchain blockbuster products that can expect profits of over 1,000%”!
Bitcoin price has surpassed $50,000 per Bitcoin, Bitcoin market cap has exceeded $1 trillion (although more shocks are on the horizon), and the broader crypto market, including major coins Ethereum and XRP, has It exceeded $2 trillion.
Now, as Russian President Vladimir Putin stokes concerns that Joe Biden is killing the U.S. dollar, one high-profile Bitcoin and crypto analyst has raised his Bitcoin price target, prompting bullish traders to It points to a perfect storm of factors that could drive the Bitcoin/cryptocurrency market higher. In the coming months.
Bitcoin's historic halving, which is expected to cause turmoil in cryptocurrency prices, is just around the corner. Sign up for free now crypto codex—Stay ahead of the market with our daily newsletter for traders, investors, and anyone interested in cryptocurrencies.
Bitcoin price has doubled since this time last year, pushing down broader Ethereum and XRP prices … [+]
“Bitcoin appears to be targeting $57,000 as the next resistance level, and given Bitcoin’s performance during previous halvings, the next leg is increasingly likely to move higher.” Markus Thielen, head of research at 10x Research, said in an emailed report.
Thielen and other Bitcoin and crypto market watchers attribute the recent Bitcoin price rally to continued inflows into the newly created Spot Bitcoin Exchange Traded Fund (ETF) and It points to the expected and imminent reduction in Bitcoin's supply, known as the halving.
“Overall, the market structure appears to be healthy, with futures positions being built and the USDT tether present.”
USDT
This week, Wall Street giant JPMorgan abruptly changed its stance on Bitcoin and crypto exchange Coinbase, thanks to the emergence of institutional investor “fomo.”
“Bitcoin has a significant directional influence,” Thielen added, adding that stocks such as Ethereum, XRP, and other major coins are likely to rise or fall with the price of Bitcoin. he claimed.
Ben Weiss, CEO of Bitcoin ATM operator Coinflip, said in emailed comments that “Bitcoin prices are rising and innovation is ramping up globally as we head into an election year. “The upcoming Bitcoin halving is also approaching.”
Sign up now crypto codex—Free daily newsletter for those interested in cryptocurrencies
Bitcoin prices have rebounded from a brutal price crash in 2022 as the cryptocurrency market expands. … [+]
Bitcoin bulls also point out that an expected Federal Reserve rate cut could fuel further price gains.
“Since Bitcoin has returned more than $50,000, [the] average investor [is] I wondered again, “Did I miss an opportunity to buy?” The answer is a hard no,” says Anthony Scaramucci, founder of hedge fund SkyBridge Capital. Posted To X.
“Interest rates are falling, spot ETFs are driving billions of dollars in new money, and they're going to be cut in half in two months. In my opinion, we're going to see a face-breaking rally.”
Last week, influential crypto trader Arthur Hayes predicted that the Fed's reversal would cause the price of Bitcoin to skyrocket to $1 million, giving Bitcoin a market cap of around $20 trillion.
