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Bitcoin has broken many speculations and expectations of analysts as its prices grew more than 147.86% in the past 52 weeks. When writing, it was trading at $70,336 with a decline of 0.77%.
In his recent statement, the Chief Executive Officer of Acheron Trading, Laurent Benayoun, claimed that the price of Bitcoin might grow 150% during the ongoing bullish market.
Benayoun believes that the Bitcoin price is expected to grow as high as $180,000 as the 4th halving is approaching as the launch of spot ETFs.
While talking to a media outlet, he adds, “If we look at Bitcoin’s past performances, the supply decreases in each cycle. Since the supply will be halved in this cycle, the BTC price may reach 2 to 3 times what we saw in previous cycles.”
“I predict Bitcoin will reach $120,000 to $180,000 per unit,” he added. However, some speculations loosening rules and regulations in the U.S. will appreciate Bitcoin’s price.
There has been a next level of hype in the market of ETFs after the much-awaited Bitcoin spot ETF secured SEC approval.
Benayoun also “The market is pricing in a decrease in interest rates because interest rates are horizontal, so it is logical to expect interest rates to decrease in the near future. A possible reduction in interest rates will have a positive impact on the BTC price.”
However, it is not the first time some analysts or crypto moguls have stated something about Bitcoin. Every holder and market observer has a diverse opinion over the price of BTC.
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As per investment firm Kerrisdale Capital, there may be a few reasons for investors to gain exposure to BTC, as a crowd of companies secured regulatory approval in January 2024.
As per available information, the ‘X’ platform will have no cryptocurrency integrations yet to be launched.
However, proper regulatory approval and a license to add such services affiliated with cryptocurrencies are required. It is crucial to note that ‘X’ has recently secured a key Check Sales and Money Transmitter license in Louisiana.
Crypto Market Updates
In the past few months, the cryptocurrency market capitalization has outperformed significantly, adding 59.56% in the past three months. At the time of writing, it was $2.58 Trillion.
The fear & greed index powered by CoinMarketCap reflects extreme greed in the market, which might be the reason for intraday bearishness. Fetch.ai (FET) and Pepe (PEPE) are among the top trending cryptocurrencies in the market.
NvirWorld (NVIR), OpSEC (OPSEC), ecoterra (ECOTERRA), and Artrade (ATR) are the most visited coins/tokens in the past 24 hours. However, the intraday gainers list is led by Dogwifhat (WIF), which added 16.66% to its price.
The loser list includes Bonk (BONK), as it lost 5.23% of its trading value, Echelon Prime (PRIME) at 4.31%, and Floki (FLOKI) at 3.88%.
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
