10x Research analisti Markus Thielen, Bitcoin’in $BTC

He predicts that it could rise to $70,000 in a short time. Thielen expects Bitcoin to reach a new peak by the end of October and attributes this rise to increased stablecoin liquidity and China's new stimulus measures. Experts emphasize that Bitcoin could reach historic levels due to market liquidity and macroeconomic factors.

Thielen stated in his latest market update that Bitcoin could rise to $70,000 in two weeks. This prediction suggests that Bitcoin has broken out of a downtrend after breaking above $65,000. Thielen says that this momentum could carry Bitcoin to an all-time high of $73,000 by the end of October. The increase in stablecoin printing, especially from large issuers such as Tether and Circle, is notable; $10 billion worth of stablecoins have been issued since the end of July.

The report also touches on the effects of China’s monetary easing policies on the crypto market. The country’s recent $278 billion stimulus plan could provide a significant capital inflow to Bitcoin. Thielen points to China’s influence on Bitcoin in the past, saying that these incentives could push the price up. He also suggests that Donald Trump’s potential re-election could also have an impact on the market; Trump could increase liquidity by advocating economic stimulus.

But Thielen also points out risks to Bitcoin’s market dominance. After the Federal Reserve’s recent 50 basis point rate cut, Bitcoin’s dominance has waned somewhat and trading fees for altcoins have increased. If the Fed signals further rate cuts, that could tip the scales in favor of altcoins.