Why One Crypto Analyst Thinks Bitcoin Could Reach $100,000 in 2024
- Bitcoin price could reach $100K by the year 2024 on the back of low sell-offs and high ETF demand.
- Market activities, specifically political actions like the Trump Bitcoin reserve, could help drive the spread of Bitcoin and the increase of its value.
- Institutional interest in Bitcoin coupled with the growth of DeFi contributes to the advancement of BTC to the next phase, and a halving cycle to push price.
Crypto analyst Miles Deutscher recently made a bold prediction in a podcast: Bitcoin could hit $100,000 in 2024. Deutscher cites a confluence of factors, from easing market pressures to potential political catalysts and rising institutional adoption, that could fuel this surge.
According to a recent analysis, the Bitcoin bear market may be ending. The German selling overhang has ceased, which has reduced negative pressure on the price of Bitcoin. Additionally, strong inflows into Bitcoin ETFs indicate growing investor confidence.
Political factors are also influential in this scenario, with speculation suggesting that if Donald Trump becomes president again, he might introduce a US Bitcoin strategic reserve plan. Such an announcement, reported in a simi…
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