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Is Bitcoin On Track to Make a Big Move and Hit $100,000 in 2024? Over the last 15 years, Bitcoin (CRYPTO: BTC) has already surpassed nearly every projection, estimate, and expectation. In just over a decade, the cryptocurrency has grown from just a few pennies per digital coin to more than $50,000 by 2021, taking the world by storm. With its price sitting at roughly $70,000 in June 2024, the next major landmark in sight is the coveted six-figure mark. As sensational as it might sound, history tells us that a $100,000 price tag is increasingly likely. But the real question is: When will Bitcoin make it past $100,000? Could it be in 2024? Measuring the effect of the halving Any prediction like this is inherently speculative. But a bit of speculation can be healthy and force us to evaluate an investment's long-term developments. To forecast Bitcoin's performance, it's imperative to consider the trends around the halving. The halving is a pre-programmed event that occurs approximately every four years. It reduces the reward for mining new blocks by half and forms the foundation of Bitcoin's robust monetary policy. This mechanism effectively decreases the rate at which new bitcoins are created over time, contributing to Bitcoin's scarcity and, historically, its price appreciation. Bitcoin recently underwent its fourth halving in April 2024, sending its inflation rate to just 0.85%. Due to the clear influence the halving has on dynamics around Bitcoin's supply and demand, we can form our projection around it by looking back at previous halvings. In the year Bitcoin undergoes a halving, its price increases by around 125% on average. If we measure from its price at the beginning of the year ($44,000), a 125% increase would put its price at $99,000. If this halving has a similar effect to past ones, it appears that Bitcoin should be within striking distance of the $100,000 mark in 2024. But to add more certainty to 2024 being the year Bitcoin hits six figures there is one other variable we need to consider. $BTC #bitcoin #BTC #BitcoinBeliever

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1 Top Cryptocurrency to Buy Before It Soars 150%, According to a Popular Analyst! Dogecoin (CRYPTO: DOGE) went through some wild swings over the past three years. The cryptocurrency was launched in 2013 as a parody of Bitcoin (CRYPTO: BTC) named after the Shiba Inu dog meme. It was only worth $0.01 at the beginning of 2021, but by May 8 of that year, it had soared to a record high of $0.73. That rally was driven by two main tailwinds. First, a mix of social media buzz, low interest rates, and stimulus checks sparked a buying frenzy in cryptocurrencies, meme stocks, and other speculative investments in 2021. Second, celebrities like Elon Musk, Mark Cuban, and Snoop Dogg jumped on the bandwagon and promoted Dogecoin to their social media followers. But today, Dogecoin is only worth about $0.16. Soaring interest rates drove investors away from speculative investments like cryptocurrencies, and many of the market's smaller altcoins collapsed as a new crypto winter began. Faced with these challenges, many investors might think it's smarter to stick with "blue chip" cryptocurrencies like Bitcoin and Ether. Nevertheless, some investors believe that Dogecoin could still bounce back in the near future. Altcoin Sherpa, the alias for a closely followed crypto analyst with nearly 217,000 followers on X, recently claimed that buying Dogecoin and expecting it to rally about 150% to $0.40 was one of the "safest trades" investors could make right now. Let's see if that outlook makes any sense -- and if investors should be more bullish on this volatile meme coin. What is the bullish case for Dogecoin? Altcoin Sherpa's bullish case for Dogecoin is based on the belief that retail investors will buy it again, that it has great liquidity and low downside relative to other meme coins, and that it's more appealing than many of the smaller altcoins. He also believes that all it takes will be one tweet from Elon Musk to "blow it up." #altcoins #doge⚡ #DogecoinCommunity $BTC $ETH $DOGE

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Big Friday Crypto Selloff Pulls Bitcoin Below $70K Ideas about lower U.S. interest rates were foiled again and a plunge in shares of speculative favorite GameStop soured the mood in crypto. Challenging an all-time high earlier Friday, bitcoin has pulled back, giving up most of its weekly gains The selloff in the rest of the cryptocurrency market was far larger as speculative fever cooled The spot bitcoin ETFs are on their largest accumulation streak since launch, but it wasn't enough for a sustained rally in price. What was thought to be a challenge of all-time highs for bitcoin (BTC) has turned into a fast retreat in U.S. trading on Friday, with the world's largest crypto barely hanging onto a week-over-week gain. At press time, bitcoin was changing hands at $69,000, down 2.5% over the past 24 hours. That was far outperforming the broader CoinDesk 20 Index, which is lower by 5% over the same time frame. Among CoinDesk 20 constituents, ether (ETH) was off 4%, Tezos {{XTX}} and EOS {{EXOS}} 10% and Solana (SOL) 7%. According to data tracked by Coinglass, the selloff has led to $450 million in liquidations, the largest amount since a mid-April washout. Challenging $72,000 earlier on Friday, bitcoin began headed lower in the U.S. morning hours after the government's employment report for May came in far stronger than expected with 272,000 jobs added. That seemingly dashed hopes for an imminent interest rate cut by the Federal Reserve, sending interest rates and the dollar sharply higher. The selloff in bitcoin and crypto really picked up steam several hours later as Roaring Kitty held a hotly anticipated YouTube livesteam for the first time in several years. The trading legend perhaps disappointed those waiting for some sort of big announcement and instead said little of interest except for his hope that GameStop management will be able to transform the company into something of great value in coming years. Already lower on the day, GME shares fell further during the broadcast, now off 40% for the session.The GME meme coin is down 50% from highs reached earlier!

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Legfrissebb hírek

Polygon Co-Founder Warns of AI-Driven Scams Targeting Crypto Startups

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Hong Kong Enhances Security Measures for Virtual Asset Ecosystem

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Nous Research Launches Decentralized AI Training Network

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Solana Network Leads Global DEX Trading Volume with Significant Weekly Growth

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Bitcoin(BTC) Drops Below 103,000 USDT with a 0.74% Decrease in 24 Hours

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