) halving, BTC price has retraced despite fresh capital inflows inducing a new all-time high earlier this month.
Bitcoin is “likely to reach $100,000 before the halving,” said Mow. “There’s just not enough coins to meet the voracious demand from the ETFs, which devour around 7,000 coins a day.”Mow may predict a significant price rise over the next 30 days, but others say the dip may go deeper. One scenario does not preclude the other. However, it is possible that both a greater dip and a greater high could occur.
“After the Bitcoin halving, instead of a continued upward trajectory, we may experience a temporary downturn. However, the overall market sentiment can be expected to remain bullish,” he said, “This optimism is linked to the broader dynamics with ETF-related development. The interest and growth in ETFs have become a significant factor in maintaining a positive market outlook.”Chong further stated that a pre-halving price dip was simply a matter of historical precedent.
Zac Cheah, co-founder and CEO of Pundi X, a blockchain-based point-of-sale solution, also believes this halving is unique due to market conditions. With the United States Federal Reserve considering interest rate cuts, the positive case for Bitcoin only gets stronger.
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Crypto_Potato - 🏆 568. / 51 Read more »
Source: Crypto_Potato - 🏆 568. / 51 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »