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The queen of cryptocurrencies has gained 147% over one year, predictions about its price are once again igniting the crypto community.

Bitcoin, which crossed $40,000 for the first time in over a year, is creating real euphoria within the crypto community. “This is just the beginning of a new supercycle that will push the queen of cryptocurrencies above $500,000 in the new monetary order that is taking Wall Street by storm,” according to some crypto enthusiasts cited by Bloomberg.

As a reminder, bitcoin rose above $40,000 this Monday, December 4. The asset, which is trading at 9:30 a.m. this Tuesday at around $41,500, has gained 12% in one week, 16% in one month and 64% in the space of 3 months. Bitcoin has led the entire crypto market, including the cryptocurrency ether, in its rise.

“All the enthusiasm generated by this surge brings out exaggerated predictions of further gains, most of them based on nothing more than intuition or obscure technical analyses,” Bloomberg warns, however.

Euphoria around ETFs

Since January, bitcoin has increased by more than 147%. Its price mainly increased in the face of the hope of validation from the American stock market watchdog, the SEC, of ​​the first spot bitcoin ETFs, proposed by giants of the financial industry, including Blackrock . While a first authorization could take place by January 10 for Ark Invest's bitcoin ETF, predictions around the price of bitcoin range from $50,000 to more than $530,000, Bloomberg points out.

Beyond speculation on ETFs, we are observing a real monetary effect, with the dollar in a bad situation at the moment. This benefits certain assets like cryptocurrencies, with the market putting pressure on the Federal Reserve (Fed) to start lowering rates early next year.