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Global Equities Research’s Trip Chowdhry in a note to clients said he thinks the Bitcoin price will rise from $54,000 to $4 million per BTC.
“We are of the opinion that Bitcoin will get to $4 million per Bitcoin, in the next 18-24 months,” wrote the analyst.
Chowdhry also shares 5 reasons why he is confident that the BTC price will reach $4 million.
In other trending Bitcoin News today: Bitcoin ‘supercycle’ sets up Q4 BTC price top as illiquid supply hits all-time high!
Bitcoin is gearing up for a comeback which should lead it to repeat classic bull run years 2013 and 2017, analysts are arguing.
As $42,400 local highs appeared on July 31, narratives around the market are flipping back to a bullish Bitcoin “supercycle.”
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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:
https://www.forbes.com/sites/chuckjones/2021/07/31/one-analyst-has-bitcoin-reaching-4-million/?sh=3b81e5196611
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Toncoin Plummets and Rebounds Amid Pavel Durov’s Arrest and Release
The cryptocurrency market witnessed significant turbulence last week following the arrest and subsequent release of Pavel Durov, the CEO of Telegram. Toncoin (TON), the cryptocurrency associated with Telegram, experienced dramatic price fluctuations in response to these events.
On August 24, 2024, Durov was arrested by French authorities at Le Bourget airport near Paris, facing charges related to data privacy and cryptocurrency regulation violations. The news of his arrest led to a sharp decline in Toncoin’s price, plummeting by approximately 25% to $5.24 as panic selling ensued among investors. This sudden drop highlighted the market’s sensitivity to legal issues involving key figures in the cryptocurrency space.
However, the situation took another turn when Durov was released on bail on August 29, 2024. The court set his bail at $5.56 million, and the news of his release provided a much-needed boost to Toncoin’s price. Following the announcement, Toncoin rebounded by over 6%, climbing to $5.59. This recovery, although partial, indicated a renewed confidence among investors, albeit tempered by ongoing uncertainties.
The arrest and release of Durov have underscored the volatility inherent in the cryptocurrency market, particularly for assets closely tied to influential individuals. While the immediate impact on Toncoin’s price was significant, the long-term effects will depend on the resolution of the legal issues facing Durov and the broader regulatory environment for cryptocurrencies.
As the market continues to react to these developments, investors are advised to remain cautious and stay informed about potential risks. The case of Toncoin serves as a reminder of the complexities and uncertainties that can influence the value of digital assets.
