"This Is Still Altcoin Season, But Bitcoin's Next Move Could

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"This Is Still Altcoin Season, But Bitcoin's Next Move Could Be $100,000," Analysts Forecast Ethereum and BlockDAG Network Takeover

"This Is Still Altcoin Season, But Bitcoin's Next Move Could Be $100,000," Analysts Forecast Ethereum and BlockDAG Network Takeover 

Aviso Legal: inclui opiniões de terceiros. Não se trata de aconselhamento financeiro. Poderá incluir conteúdos patrocinados. Consulta os Termos e Condições.

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After the Fed forecasts a single rate cut in 2024, 10x Research advises sticking with #bitcoin "We still advise sticking with the winners (Bitcoin) and avoiding the losers (such as Ethereum)." A lower CPI statistic typically leads to higher Bitcoin prices, as demonstrated by our prior research, and we believe this tendency will continue," 10x Research founder Markus Thielen wrote in a message to clients on Thursday.

The momentum behind such rallies has been depleted by the Fed's revised upward revision of its growth estimates, which Powell later reaffirmed in his press conference. At 19:00 UTC, Bitcoin {{BTC}} was back at $67,300, unchanged from the previous day. US Treasuries and equities ended the day higher, although they were still far below session highs. #bitcoin

The price of the cryptocurrency stabilized until encountering bearish pressure, which caused it to drop below $3,500 after gaining from $3,000 to $3,800 following the introduction of Ethereum spot ETFs. The tiny dip in Bitcoin, which carried the entire cryptocurrency market down with it, was the main driver of this decline. As of right now, the cryptocurrency appears to be stabilizing and showing signs of increased buyer interest. As of the publication of this article, the value of one Ether is just over $3,500. It is now below the $3,800 threshold, which denotes the control point that has been identified since its previous rebound.

Tuesday night at Mar-a-Lago, a number of Bitcoin miners met with former President Donald Trump, according to Matthew Schultz, executive chairman of the cryptocurrency mining startup CleanSpark Inc. According to Schultz, Trump informed the guests that he is passionate about and knowledgeable about cryptocurrencies and that Bitcoin miners contribute to the grid's stability. Schultz continued, "Trump stated he would support miners in the White House."

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