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Cryptocurrency News Articles
Bitcoin (BTC) Price Prediction 2022: Will BTC Hit $500,000 by October 2025?
Sep 11, 2024 at 06:15 am
Bitcoin traded in the red for the second consecutive day on August 15, falling -3.42% to $58,942.27 on the BTC to USD charts in the last 24 hours.
Bitcoin price fell sharply on Monday evening, dropping below the crucial $60,000 level as a key inflation report and news of large BTC outflows spooked investors.
The world’s largest cryptocurrency fell -3.42% over the last 24 hours to trade at $58,942.27 at press time. This comes after BTC fell below the $60,000 level for the first time since July 2023.
The drop in Bitcoin price sent waves across the industry, with other major tokens also experiencing significant declines. Binance Coin fell -3.04%, while XRP dropped -2.26%. Ethereum also fell, albeit more marginally, dropping -0.83%.
The drop in Bitcoin price comes in the wake of two key inflation reports released over the week and significant BTC-spot ETF outflows, which saw around $81 million pulled out in just a week.
Additionally, the transfer of 10,000 BTC, worth $593.5 million, to Coinbase Prime from a major wallet sparked new fears, further pressuring BTC prices.
The interplay of macro-factors on the BTC price
“One of the things that spooked the crypto markets last week was that a large holder moved 30,000 BTC from its custodian at Anchorage over to Coinbase, and people thought there would be a major sell-off,” Brian Estes, CIO of Off the Chain Capital, said in a CNBC interview.
“News just broke that 10,000 BTC were sold off, and that’s a major reason it dropped so much.”
Estes notes that volatility is an inherent part of the burgeoning cryptocurrency industry, which has just entered its 15th year. While Bitcoin has gained wider acceptance over the years, the crypto still faces major problems, including fear, uncertainty, and doubt (FUD) about its utility.
However, Estes says the market sentiment is changing, as evidenced by the approval of the BTC spot ETFs earlier this year.
“On the macro level, the mass adoption of Bitcoin isn’t slowing down,” he asserted.
“In fact, BTC adoption is growing faster than internet adoption did back in the 1990s. This is an unstoppable megatrend, just like the adoption of cellphones, mobile internet, or washing machines back in the 1950s. The macro trend is strong, and we think it’ll continue for the next 20 years until about 90% of the world has exposure to digital assets, cryptocurrency, and Bitcoin.”
Bitcoin and the Influence of Market Sentiment
As a nascent asset class, cryptocurrency often moves in response to broader economic and market trends. Estes notes that over 50 million people globally own Bitcoin and other digital assets, so a large swathe of investors has a vested interest in market dynamics.
Most notably, the regulatory landscape for cryptocurrency has evolved significantly, with changes in market sentiment influencing Bitcoin’s price movements. Concerns over the regulatory environment and market stability can drive volatility, as seen in the recent dip coinciding with heightened uncertainty in the financial markets.
These fluctuations are often linked to the broader context of digital asset adoption and the evolving views of key financial stakeholders.
The stakes are high in the crypto market. Regulatory developments or shifts in market sentiment could dampen Bitcoin’s momentum, while more favorable conditions could open the doors for broader adoption and institutional investment.
As the market continues to mature, experts expect that sentiment, news, and shifts in the financial landscape will continue to drive Bitcoin’s price movements.
“It is undeniable that crypto is an increasingly relevant issue,” notes the author of an article on Yahoo! Finance.
“And for some, it is the defining issue of our times. Crypto isn’t just an investment opportunity, it’s a movement, a philosophy, and a way of life – and there are true believers.”
While some may argue that this shouldn’t be the defining issue for investors, the author notes, “Crypto exists in the context of all other market dynamics and is currently being affected by broader financial trends. And it’s perfectly natural that people who think about and use crypto every day would elevate it as the most important issue – especially considering that it’s not only a philosophy but an investment.”
Bitcoin Price Outlook for the Rest of the Year
BTC achieved a new milestone when it reached a new all-time high price of $73,000 in March. Estes believes the new BTC all-time high will surpass that mark, with a minimum projection of $500,000 by October 2025 based on Plan B’s S2F model.
Jamie Coutts, a chief crypto analyst at Real Vision, seems to agree with Estes. On Thursday, Coutts’ X post about a
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- BlockDAG (BDAG) Price Prediction 2022: Will BDAG Reach $1 After Testnet Launch?
- Sep 21, 2024 at 12:20 pm
- BlockDAG has already raised $73.5 million through its presale, offering early backers a 1680% return and securing two major soccer partnerships.
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- Fantom (FTM) Price Prediction: Will Sonic Testnet Propel FTM to $1?
- Sep 21, 2024 at 12:15 pm
- Fantom's (FTM) price prediction largely depends on the outcome of its Sonic testnet, while Notcoin investors are watching closely after a significant 31% price drop.
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- Holders with 7500+ BDAG Coins Get Access to BlockDAG’s New Testnet! SHIB Whales Resurface as Uniswap Unlocks 1B Tokens
- Sep 21, 2024 at 12:15 pm
- Shiba Inu (SHIB) has seen a 129% jump in whale activity, just as Shibarium’s upgrades approach. Meanwhile, Uniswap (UNI) has released its full 1 billion token supply
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- Notcoin Struggles, Fantom (FTM) Value Rises 50%: Sustainable Rally or a Bull Trap? BlockDAG’s Testnet Launch Nears: Can it Hit $20 by 2027?
- Sep 21, 2024 at 12:15 pm
- Notcoin (NOT) has been facing severe bearish pressure, with its price dipping to a three-month low. Currently, Notcoin is trading at $0.00759
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- BONK and Korean K9 Rescue Break Guinness World Record, Champion Dog Adoption During Korea Blockchain Week
- Sep 21, 2024 at 12:15 pm
- Amid the technological buzz and excitement of Korea Blockchain Week, where the focus is often on cutting-edge innovation, networking mixers, and high-profile events, one project managed to stand out not just for its blockchain relevance but for its heartwarming mission.
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- BlockDAG's $73.5M Presale and 75B BDAG Mining Reward Pool Steal the Show as the Crypto Market Gears Up for a Bull Run
- Sep 21, 2024 at 12:15 pm
- As the cryptocurrency sphere gears up for another potential bull run, recent revelations from BlockDAG, Neiro Ethereum, and Aptos are causing quite a stir.
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- Litecoin Whales Accumulate or Sell Off, Ethereum (ETH) Has a Narrow Window of Opportunity, BlockDAG (BDAG) Community Thinking Pushes it to $72.8 Million
- Sep 21, 2024 at 12:15 pm
- Positioning is everything and dictates who is talking about any given cryptocurrency and, more importantly, who is investing in those projects. Most investors understand that the best crypto to buy right now is the one that has put itself in the most favorable position amongst industry leaders, miners, and bloggers.
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- AERGO Soars 25% Post Binance Contract Introduction, BlockDAG Presale Thrives Amid Premier League Partnership Speculations
- Sep 21, 2024 at 12:15 pm
- The cryptocurrency market is bustling with significant price movements, capturing the attention of traders. AERGO has seen a notable 25% rise following Binance’s introduction of perpetual contracts for the token. Similarly, Arbitrum is enjoying an upward trend, bolstered by key technical indicators that signal potential future gains.
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- Sep 21, 2024 at 12:15 pm
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