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In the cryptocurrency ecosystem, volatility seems to still be prevalent, but Bitcoin (BTC) has shown resilience so far, rebounding to the level of $68,000. According to IntoTheBlock's predictions, nearly 100% of all BTC addresses have achieved profits, but later the value of Bitcoin fell back to $61,440.
Market experts like Robert Kiyosaki, the author of "Rich Dad Poor Dad," predict that by the end of this year, the target price of Bitcoin will reach $300,000. The price of Bitcoin has risen again after a brief calm: What levels and events should we pay attention to regarding the future of Bitcoin?
Bitcoin's price has once again reached $68,000. Despite ongoing volatility in the cryptocurrency ecosystem, Bitcoin (BTC) has demonstrated resilience, rebounding to the level of $68,000. Bitcoin bulls continue their relentless efforts, driving the price up 24% in the past 1.35 hours, surpassing the intraday low of $65,655.53.
Driven by the ongoing momentum of spot Bitcoin ETF issuers' purchases, the price of Bitcoin fluctuated in the $61,000 range this week. Supply shortages triggered rare buying momentum, propelling the price of Bitcoin to a historic high of $69,170.63. Bitcoin's price waited over two years to test its previous ATH, and according to the crypto analytics platform IntoTheBlock's forecast, nearly 100% of all BTC addresses have achieved profits. However, the coin's value later fell back to $61,440.
The token has attempted to revisit its ATH multiple times, but investors who previously profited remain skeptical about reallocating funds to buy the token again. Despite critics hoping for a more devastating drop in Bitcoin's price, the rollercoaster price action has helped maintain the price of Bitcoin above the psychologically significant level of $61,000.
While attention shifts to the price, the influence of spot Bitcoin ETFs remains a decisive feature, continuing to influence institutional investor interest. With Bitcoin's ongoing accumulation, proponents of Bitcoin believe this correction is a healthy reset for the leading digital currency's price.
Bitcoin Predictions and Key Catalysts to Watch
At current levels, market experts like Robert Kiyosaki predict that by the end of this year, the target price of Bitcoin will reach $300,000. Robert Kiyosaki's optimism about BTC's price has been consistent, even before the approval of spot Bitcoin ETFs.
Other advocates, such as Cathie Wood of Ark Invest and Samson Mow, CEO of Jan3, have even larger predictions of $600,000 and $1.5 million, respectively. The upcoming Bitcoin halving event is a significant catalyst to complement the demand for existing spot BTC ETF products. If demand continues to be maintained after a 50% reduction in supply, supply shortages will be severe, to the point where the market will value cryptocurrencies even higher.
The BTC price is currently above the 50-day and 200-day moving averages, indicating bullish short-term and long-term market sentiment. |
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Post time 17-3-2024 14:02:31
