Crypto analyst PlanB believes Bitcoin will reach $100,000 this year, despite the current market dip. Reasons for Optimism Stock-to-Flow Indicator: PlanB uses this indicator to suggest that $100,000 is just the starting point, with an average price of $500,000 possible. High Demand: PlanB argues that Bitcoin’s limited supply and growing demand will drive up its…
Despite a recent dip from its peak of $74,000, analysts are encouraging investors to remain calm and view it as a buying opportunity. Historical Parallels Some analysts draw parallels between the current market conditions and the Bitcoin bull run of 2020. During that time, a retracement preceded a surge that pushed Bitcoin to new highs….
ETF Outflows: A Concern? The crypto market was surprised by significant outflows from Cathie Wood’s ARK 21Shares spot Bitcoin ETF (ARKB) on Tuesday. This marked the first time a “Newborn Nine” ETF had surpassed the outflows of Grayscale’s Bitcoin Trust (GBTC). Analysts are debating whether these outflows are a bearish signal for Bitcoin’s price or…
Bitcoin ETF outflows are back on the rise, potentially affecting the cryptocurrency’s performance. Leading Outflows Grayscale’s Spot Bitcoin ETF has historically been the primary contributor to outflows due to its high fees. However, Cathie Wood’s ARK Invest has also seen significant outflows from its ETF. ARK Invest’s fund saw a record $87.5 million outflow on…
Bitcoin Price Decline: An Opportunity to Buy Despite a recent dip in Bitcoin’s price to below $67,000, crypto analyst Michael van de Poppe sees it as a buying opportunity. He believes that the decline presents a chance to acquire BTC at a lower price. Price Corrections Are Normal Poppe emphasizes that price corrections are common…
Trading Algos and Bitcoin Price Recent Bitcoin price fluctuations in Asia have been heavily influenced by automated trading algorithms that track the flow of investments into US exchange-traded funds (ETFs). These algorithms react to daily ETF flow data, leading to significant price swings during Asian trading hours. ETF Flows Impact Bitcoin Returns The introduction of…
Tether’s Bitcoin Hoard Tether, the giant stablecoin company, has recently added 8,888 Bitcoin to its holdings. This brings their total stash to nearly 75,400 BTC, making them one of the biggest Bitcoin whales out there. The Price Puzzle Usually, such a large Bitcoin purchase would send the price skyrocketing. But surprisingly, Bitcoin has actually dropped…
Cryptocurrency expert Michael Van De Poppe believes Bitcoin (BTC) could hit a new all-time high before the upcoming Halving event. Final All-Time High Before Halving Despite recent market weakness, Poppe predicts BTC will reach a new peak before the Halving, expected later this month. He says Bitcoin is currently consolidating and has identified two key…
Bitcoin’s price has taken a tumble, falling below $66,000. Here are four reasons why: 1. Liquidation Event A lot of traders who had bet on Bitcoin going up (long positions) were forced to sell when the price dropped. This is called a liquidation event. It’s like a domino effect, where one sale triggers more sales,…
Mark Yusko’s Bold Prediction Mark Yusko, CEO of Morgan Creek Capital Management, believes Bitcoin is poised for a massive price surge in the next bull cycle. He predicts that BTC will hit $150,000 by 2024. Factors Driving the Price Increase Yusko cites several factors that will contribute to Bitcoin’s price increase: Bitcoin Halving: The upcoming…
