This week, Bitcoin (BTC) experienced notable price fluctuations. Starting at approximately $53,991 on August 4, Bitcoin saw a dip to around $49,121 on August 5. However, it rebounded to $57,604 by August 7. This volatility reflects ongoing market dynamics and investor sentiment.
Several factors contributed to these price movements. The anticipation of regulatory developments and macroeconomic conditions played significant roles. Investors are closely watching potential policy changes that could impact the broader cryptocurrency market. Additionally, Bitcoin’s resilience and growing institutional interest continue to bolster its prospects. Analysts suggest that Bitcoin could soon challenge its previous all-time highs, given the current momentum and positive market sentiment.
In the broader cryptocurrency market, Ethereum (ETH) faced a slight downturn. Despite the launch of nine spot Ethereum ETFs in July, ETH prices dropped by 3.4% to close at $3,272. This decline indicates that investors might be taking profits after the initial excitement surrounding the ETFs.
Among other major cryptocurrencies, XRP (XRP) emerged as a strong performer, gaining 26.9% in July. Conversely, Toncoin (TON) struggled, though it remains up 21.5% over the past three months. The total market capitalization of the global cryptocurrency market stands at approximately $2.4 trillion, recovering from the lows of the 2022 crypto winter.
As the market continues to evolve, investors remain cautiously optimistic. The potential for Bitcoin to reach new heights and the ongoing developments in the cryptocurrency space suggest an exciting period ahead for digital assets.
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THIS BITCOIN FRACTAL COULD DRIVE PRICE TO $390,000 THIS BULL CYCLE PEAK!! BTC FUTURES ETF LAUNCH!!
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Bitcoin has broken the $60,000 level and is back in the area of its all-time high (ATH) set in April 2021. Based on a fractal analysis of charts of previous BTC cycles, the peak prediction for the ongoing bull market even reaches the vicinity of $390,000.
Cryptocurrency and Bitcoin market analyst, TechDev has tweeted a series of charts on the possibility of future long-term movement of BTC. They show bullish predictions for the price of the alpha crypto for the next few months, especially at the end of this year.
In other trending Bitcoin News today: ProShares Set for Bitcoin Futures ETF Launch on Monday After Apparent SEC Approval!
The US Securities and Exchange Commission has reportedly greenlit the countryâs first Bitcoin futures exchange-traded fund (ETF).
ProShares, an ETF provider, filed a post-effective amendment prospectus on Friday that states the company plans to launch the BTC Futures ETF on Monday, a sign that the SEC has approved the product.
Bitcoin has surpassed the $60,000 mark briefly for the first time since April 2021. The BTC price has been boosted by reports suggesting a Bitcoin futures ETF (Exchange Traded Fund) is likely to begin trading in the United States as early as next week.
Bloomberg senior ETF analyst, Eric Balchunas, is confident that the ProShares Bitcoin Strategy ETF could be the first one launched as the decision deadline is Oct. 18. The Invesco Bitcoin Strategy ETF may be approved the following day barring any further delays by the SEC.
In a tweet on Oct. 15, the analyst stated: âPretty much done deal. Expect launches next week,â before adding the âodds now over 90% IMO.â
In other trending Bitcoin News today: Bitcoin Could Surge Nearly 10X From Current Price, Predicts ARK Investâs Cathie Wood â Hereâs How
ARK Invest founder Cathie Wood says that Bitcoin (BTC) could reach $500,000 if institutional investors embrace the benchmark cryptocurrency.
Bitcoin is currently trading at $57,327, but according to Financial Review, Wood says that price could surge by nearly 10 times if institutions allocate just 5% of their investment funds to BTC.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
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BITCOIN WILL SURGE 500-800% IN MASSIVE SUPERCYCLE IF BTC MIMICS 2013 BULL MARKET!!!!!
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Dan Held, the director of growth marketing at crypto exchange Kraken, says that Bitcoin could surge by over 500% if BTC follows the cycle of its 2013 bull run.
In a new interview on Altcoin Daily, Held compares the current state of the cryptocurrency market to what happened in 2013. He also shares his price prediction based on Bitcoin potentially mimicking its 2013 cycle.
âIf we repeat 2013, we could see Bitcoin hitting between $300,000-$400,000 Bitcoin. Now. history usually rhymes, it doesnât repeat itself, so itâs probably not going to be exactly that, but if it did, that would be my best price point.
So my price point, I would say that I think itâs going to land probably between [$100,000 and $300,000]. But if we match 2013 again, it could be [$300,000 to $400,000].â
In other trending Bitcoin News today: Bitcoin bullish cross on weekly chart paints $225K BTC price target if history repeats!
The weekly MACD delivered six-month gains of 450% the last time it flipped into bullish territory.
The last time that a bullish crossover occurred, BTC/USD saw a 5.5X price increase â from $11,500 in October 2020 to all-time highs of $64,500 just six months later.
Should history repeat itself, Bitcoin could end up at over $220,000 by the end of the year or in early 2022.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
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https://cointelegraph.com/news/here-s-what-traders-expect-now-that-bitcoin-price-rallied-back-to-50k
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THIS METRIC SHOWS BITCOIN TARGETING 0K SAYS CRYPTO TRADER WHO PREDICTED 2019âs BTC MELTDOWN!!
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The pseudonymous Bitcoin trader who made the accurate call that BTC will fall by over 40% last year is back with another Bitcoin price prediction.
This time, he says Bitcoin may be on a long-term path to $540,000. Dave the Wave relies on a chart shared by on-chain market analyst Willy Woo to illustrate that Bitcoin (BTC) is still in the earliest stage of the adoption life cycle.
âIf the current market represents 2.5%, then that would put price at 500K with 100% adoption/ full capitalization. This is the S curve.â
According to Dave, Bitcoinâs growth in terms of market share is just getting started as those buying the number one cryptocurrency over the last 11 years are considered innovators which make up 2.5% of the total addressable market.
Using the S-curve, Dave predicts that Bitcoinâs value will skyrocket to $540,000 as it captures a bigger percentage of the market share in the next decade or so.
While Dave sees the possibility of Bitcoin meteorically rising 4,900% from its current value of $10,800 as extrapolated from the S-curve, the crypto strategist remains a skeptic of the stock-to-flow model (S2F) as he doesnât expect Bitcoin to hit $100,000 by December 2021.
He says he managed to get a set of criteria from Plan B, the first to apply the S2F model to BTC, that would invalidate the wildly-popular model.
Dave highlights that the criteria are set to keep subscribers from blindly believing in the model.
âInsofar as people can be rational/ civil about the matter [both subscribers and non-subscribers to s2f] then this should be the crucial test. Itâs generous enough to s2f price prediction while also holding it to account unless it become a dogma.â
In other trending Bitcoin News today:
Investors Ponder Big Crypto Question in Viral Post â Will Bitcoin Really Reach $100,000?
A new, viral post on Reddit centers on an oft-debated question in the world of crypto â will Bitcoin ever hit $100,000?
This year alone, numerous BTC analysts and traders, as well as top-ranking crypto entrepreneurs, have hinted at the possibility or issued formal predictions that the leading cryptocurrency will reach six figures in value in the next couple of years.
Many Redditors agree with their confidence, calling Bitcoinâs rise to $100,000 as âinevitableâ and saying it is âjust a question of how much time itâll take.â
Others still think BTC is at the mercy of whales and will remain too volatile for that kind of sustained growth. Says one Redditor,
âIâve been a BTC bull since the early days, but also recognize that ownership is concentrated in the hands of a minority early adopters who have good motivation to cash out at the right levels. I think price will remain a cycle of pumps and dumps ranging between $6k and $30k for the next 10 years.â
Others expressed worries about dollar depreciation and pondered âhow much $100,000 will buyâ at whatever time Bitcoin reaches that value.
Some Redditors predict it will either surpass $100,000 or go bust and plummet to zero, all dependent on adoption.
The list of crypto influencers who say the BTC price will hit six figures includes Pantera Capital founder Dan Morehead; Real Vision CEO and former Goldman Sachs manager Raoul Pal; Morgan Creek Digital co-founder Anthony PomplianoâŠ
Kraken chief executive Jesse Powell; veteran analyst Tone Vays; popular Youtuber Nicholas Merten; Su Zhu, chief executive of fund management firm Three Arrows CapitalâŠ
Bitcoin Pioneer Max Keiser; Bitcoin Billionaires, Tim Draper, Chamath Palihapitiya & The Winklevoss Twins; and the pseudonymous strategists Dave the Wave and PlanB among others.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
If the current market represents 2.5%, then that would put price at 500K with 100% adoption/ full capitalization. This is the S curve. https://t.co/ZXj5YNlckp
â dave the wave (@davthewave) September 29, 2020
https://cointelegraph.com/news/bitcoin-price-in-flux-bulls-target-115k-bears-desire-drop-to-98k
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