Crypto analyst maintains a bullish position for Bitcoin (BTC)The pioneer cryptocurrency, Bitcoin, is predicted to reach a new high. fresh all-time high The analyst has shared several factors that could propel Bitcoin to this lofty price target. Analyst has shared several factors which could push Bitcoin up to the price of $100,000.
Bitcoin Will Hit $100,000 By 2024
Scott Melker (also known as “The Wolf Of All Streets” Twitter (now on X) informed His 958.300 followers, he said that he is extremely bullish about Bitcoin’s future potential. future price increase. The analyst stressed his optimistic long-term stance on Bitcoin and highlighted that he is generally positive about its price.
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Melker: Bitcoin’s current market cycle It was different. In a way, he revealed it. past cyclesThe market was swinging between too pessimistic or overly optimistic narratives. However in the current market conditions, mostly positive and tangible narratives about Bitcoin are coming true.
Melker highlighted several other factors which will also contribute to Bitcoin’s bullish surgeBTC is predicted to reach $100,000 by the end of 2020. Considering Bitcoin’s price As of this writing, the amount is $66,523. This will need a 50.34 % increase.
Crypto analyst acknowledges that although a rise to $100,000 Although he may seem ambitious, if certain conditions are met at the end of the bull marketBitcoins could reach this price in an instant. Melker encouraged the crypto-community to be more open and transparent in his blog post. “think bigger,” Perhaps suggesting that Bitcoin bulls can expect to see more gains.
Bitcoins bullish surge is driven by the following factors.
You can also contact us by clicking here. forecasting Bitcoin’s surge Melker’s list includes some of the most important factors which could push Bitcoin up to $100,000 by the end of this year. The analyst suggested that Spot Bitcoin exchange-traded funds (ETFs) could be the catalyst for a Bitcoin price increase.
More than that, he revealed. inflows enter into Spot Bitcoin ETFsIt could lead to a constant stream of price increases for Bitcoin. Melker has also stated that, if the former United States president (US) had been able to get the support of former United States Senators and Representatives in Congress. Donald Trump If Trump wins the Presidential Elections, it might push wealthy fund managers Vanguard and Wells Fargo enter the Spot Bitcoin Market ETFs. Up to $40 billion could be inflowed by 2024 as a result of this shift.
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Also, the crypto analyst emphasized this. Ethereum Spot ETFs Another major reason for the price rise of Bitcoin is that it has become more popular. He said that diversification into other asset classes than spot Bitcoin ETFs could be a factor in driving up the price. price of Ethereum. He added that the success of Ethereum following its launch as an ETF would determine how quickly new crypto ETFs are filed. Solana ETFs Will emerge
Melker also pointed out the fact that Melker is announcing that Melker will be launching a new website in early 2019. Bitcoin conferenceThe tokenization of the economy is expanding. Real World Assets (RWAs) Bitcoin’s recent bullish rise is largely due to the evolution and innovation of stablecoins.
Melker noted as well that, if Trump wins the US presidential elections If he keeps his word, the United States Securities and Exchange Commission (SEC), which regulates securities and exchanges in the United States, could be less concerned about its enforcement. anti-crypto stance The industry will face aggressive enforcement measures. The crypto industry would benefit from more transparency in terms of the regulatory and legal frameworks.
Featured image was created using Dall.E chart, from Tradingview.com
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Source: www.newsbtc.com