Dan Tapiero of 10T Holdings Forecasts Bitcoin to Reach $200,000 with ETFs and Halving
Big market players continue to remain bullish on Bitcoin, while the world’s largest crypto faces strong selling pressure a day before the FOMC meeting.
Big market players continue to remain bullish on Bitcoin, while the world’s largest crypto faces strong selling pressure a day before the FOMC meeting.
Butterfill stated that since the launch of spot Bitcoin ETFs in the US, the average daily demand for Bitcoin has increased to 4500 on trading days, while only approximately 921 new Bitcoin are produced each day.
The initiative potentially holds the power to unlock a myriad of possibilities by merging the capabilities of blockchain technology with that of AI.
Looking ahead to 2025, Standard Chartered predicted that the ETH-BTC price ratio will return to levels seen in 2021-2022, potentially reaching 7%.
As we are just 3-4 weeks away from Bitcoin halving, BTC price has reportedly entered a danger zone where investors need to be cautious of the upcoming volatility.
Experts believe that with the potential of spot Bitcoin ETFs, this market cap difference might be bridged in the coming decade.
Stifel has reinstated coverage of Michael Novogratz’s crypto financial services firm with a buy rating and potential 45% gains from the current levels.
So far, 56 transactions have been sent to El Salvador’s new wallet address, with a large amount being small value transfers.
The recent decline in Bitcoin’s value may be partly attributed to traders’ growing interest in speculative memecoins that offer limited liquidity.
While the 2023 recovery brought some optimism for cryptocurrencies, they still face significant challenges.
Bitcoin News Today
Bitcoin (BTC) news covers all information on Bitcoin and other related cryptocurrencies. Bitcoin is a digital currency that was created in 2009 by anonymous founder Satoshi Nakamoto and has since gone on to lead the rise of other digital currencies like it, such as Ethereum (ETH), Ripple (XRP), Litecoin (LTC), EOS, Binance Coin (BNB), Monero (XMR), Bitcoin Cash (BCH) and Tether (USDT) among others. The cryptocurrency is decentralized and thus can be sent and transacted over its own peer to peer Blockchain network without a middleman verifying a transaction.
Bitcoin Adoption
Bitcoin (BTC) has grown in leaps over the decade and has had it’s worth multiply in hundreds and thousands since January 2009 when the first BTC block was mined. Bitcoin transactions are irreversible and pseudonymous amongst other properties. Confirmed transactions on the Bitcoin Blockchain network cannot be undone, which in its way also contributes to the strong security associated with BTC.
Over time the awareness that bitcoins like most crypto currencies operate outside the control or regulation of any third parties such as banks, financial institutions, or the government triggered a wakeup call directed to the risks investors may be exposed to when involved in this venture.
Venturing in Bitcoin
Apart from being trustless, the crypto coin is also permissionless, which sets it apart from traditional fiat currencies and government issued money. The cryptocurrency exchange is also important in bitcoin transactions and the overall ecosystem. You’ll need a cryptocurrency exchange to exchange fiat currencies or regular-coins for some BTC.
Bitcoin Mining
Bitcoin mining operations are done to issue new BTCs into the market, with the overall BTCs eligible for circulation set at 21 million. At present, Bitcoin now has more than 18 million coins in circulation and its next halving event, which would reduce its mining rewards by half for the third time, has been slated for May 2020. At present, Bitcoin has a total market capitalization higher than $110 billion and has hit records higher than 300 billion in the past. The next few years might see Bitcoin eclipse its previous records.