In a move that has captured the attention of enthusiasts and financial analysts around the globe, Bitcoin (BTC) has scaled new heights, surpassing the impressive $70,000 mark. The largest cryptocurrency on the market set another new all-time high on March 8, reaching a market value of up to US$70,199 on the Coinbase exchange.
Analyzing Bitcoin’s latest movements, market expert Timothy Peterson shared a very optimistic forecast for the largest cryptocurrency. The analyst highlighted the positive momentum triggered by the approval of spot Bitcoin exchange-traded funds (ETFs), suggesting that the asset could reach US$100,000 by October.
“It appears that the approval of the Bitcoin Spot ETF has launched an accumulation that, if sustained, will put $BTC at $100K by October 2024,” highlighted Peterson in a recently shared analysis.
It appears that the #Bitcoin Spot ETF approval launched an accumulation that, if sustained, puts $BTC at $100K by October 2024. https://t.co/p32iJsydzh pic.twitter.com/5X11gwuhkr
— Timothy Peterson, CFA CAIA (@nsquaredcrypto) March 6, 2024
Furthermore, the expectation surrounding the next Bitcoin Halving increases bullish sentiment in the market. The halving scheduled for 2024 is of particular importance as it will directly influence the speed at which new Bitcoins are introduced into the market. In anticipation of the 2024 halving, social media analyst BitQuant projected that the price of Bitcoin could reach new historic highs before or after the event. The halving event is expected to take place in April.
At the time of publication, the price of Bitcoin was quoted at US$68,312.66, up 1.0% in the last 24 hours. During this period, the cryptocurrency recorded a trading volume of US$60,023,289,314. Bitcoin price increased by 10.3%.
Bitcoin on its way to US$300,000
In the cryptocurrency market, the voice of Robert Kiyosaki, famous for his book “Rich Dad, Poor Dad”, echoes with a new prediction that captures investors’ attention. Kiyosaki, an influential financial guru, has projected a bright future for Bitcoin, predicting that the cryptocurrency could reach the $300,000 mark by the end of 2024.
With Bitcoin gaining momentum, Kiyosaki utilized his social media platforms to instigate action among his followers. “BITCOIN on fire,” he proclaimed, underlining the need to capitalize on the current market momentum. He argues that even a modest investment could turn into substantial gains, given Bitcoin’s potential to rise to $300,000.
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/bitcoin-para-lua-analista-de-mercado-preve-que-btc-atingira-us100-mil-ate-outubro/
