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Cryptocurrency News Articles
Bitcoin (BTC) Price Prediction: Will the Market Catch up to the S&P 500 and Break ATHs?
Sep 28, 2024 at 07:52 pm
The S&P 500 index currently looks bullish. At present, it stands at 5,738.16. Since its mid-March peak of 5,253.63, the market has achieved at least 9.22% growth.
The S&P 500 index is currently in a bullish phase, with a value of 5,738.16. Since its mid-March peak at 5,253.63, the market has seen a growth of 9.22%.
Miles Deutsher, a crypto expert, has performed a comparative analysis between the S&P 500 market and the Bitcoin market, and some of his insights are surprising. Continue reading to find out more.
Bitcoin's Current Standing
This article will delve into the Bitcoin price prediction. At the moment, the price of BTC is $65,607.99. In mid-March, it reached an all-time high of $73,000, indicating that the current BTC price is 11.26% lower than the all-time high.
#Bitcoin could break ATHs way sooner than you think.
The S&P 500 is now sitting 9% above its yearly high
$BTC is still lagging, 11% below its yearly high ($74k).
If BTC catches up to stocks (9% above yearly high) – this would imply a BTC price of $81,000.
The catchup begins. pic.twitter.com/VqpZ7oOrGg
Stock Market's Potential Influence on Bitcoin
Historically, there has been some correlation between the performance of stocks and Bitcoin. Decutscher, along with many experts, anticipates the possibility of Bitcoin following the path of the S&P 500. If the Bitcoin market achieves a 9% increase from its yearly peak, its price will reach as high as $81,000.
#Bitcoin could break ATHs way sooner than you think.
The S&P 500 is now sitting 9% above its yearly high
$BTC is still lagging, 11% below its year
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
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