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$300,000 Bitcoin Is Coming – VanEck CEO Makes Bold Prediction
Jan Van Eck, CEO of VanEck, is one of the prominent analysts betting on the top crypto asset’s rise. According to Van Eck, Bitcoin will top $300k, which is a reasonable estimate. In addition, Van Eck and other market experts have shared the same sentiments, with Fundtrat’s CIO expecting BTC to trade above $100k before the year ends.
#btc #bullish #ath
When asked to explain, the CEO shared that his estimate is a “reasonable assumption” given the current market conditions. Van Eck further predicted that Bitcoin is the industry’s digital gold and will soon achieve half of gold’s total market valuation.
#BULLRUN24
Interestingly, the CEO insisted that his price prediction is conservative and that other bullish analysts would offer a higher estimate for Bitcoin. He added that his estimate is just a base price, and he wouldn’t be surprised if the crypto exceeds his target.
Bitcoin: Market Performance Driven By Increased Demand From Investors
In the same CNBC interview, Van Eck shared that the recent Bitcoin run is partly powered by individual and institutional demand for ETFs. He cited Thursday’s market volume for Bitcoin ETFs, which boasts an inflow of $1.37 billion.
Then, there’s Republican Donald Trump’s recent win. Trump was seen as more friendly to cryptocurrency and blockchain technology and has publicly shared his plans to make the US the world’s “Bitcoin capital.”
#btc #bullish #ath
When asked to explain, the CEO shared that his estimate is a “reasonable assumption” given the current market conditions. Van Eck further predicted that Bitcoin is the industry’s digital gold and will soon achieve half of gold’s total market valuation.
#BULLRUN24
Interestingly, the CEO insisted that his price prediction is conservative and that other bullish analysts would offer a higher estimate for Bitcoin. He added that his estimate is just a base price, and he wouldn’t be surprised if the crypto exceeds his target.
Bitcoin: Market Performance Driven By Increased Demand From Investors
In the same CNBC interview, Van Eck shared that the recent Bitcoin run is partly powered by individual and institutional demand for ETFs. He cited Thursday’s market volume for Bitcoin ETFs, which boasts an inflow of $1.37 billion.
Then, there’s Republican Donald Trump’s recent win. Trump was seen as more friendly to cryptocurrency and blockchain technology and has publicly shared his plans to make the US the world’s “Bitcoin capital.”
🚨 BREAKING NEWS 🚨
Bitcoin to Smash Records This Week? Analyst Makes Bold Prediction
Get ready for fireworks! According to Markus Thielen, head of research at 10x, Bitcoin is poised to break its all-time high before the week ends. This prediction comes as Bitcoin recently hit a new record against the euro and is inching closer to its peak in USD terms.
Here's what's fueling the optimism:
Resilient Market: Despite attempts to liquidate long positions, "there are no sellers," Thielen notes. This suggests strong buying pressure and potentially explosive price action.
Euro All-Time High: Bitcoin already reached an all-time high against the Euro on Monday, showcasing its global appeal.
Nearing USD Peak: With the price hovering just below $67,000, Bitcoin needs to climb less than 3% to surpass its November 2021 record of $69,000.
Decreasing Exchange Holdings: A significant decline in Bitcoin held on exchanges (63,000 BTC in the past 30 days) suggests investors are moving their coins into cold storage, potentially indicating a long-term bullish outlook.
Beyond the Bullish Narrative:
It's crucial to remember that predictions are not guarantees, and the market can be unpredictable. Additionally, while reaching an all-time high before the halving (scheduled for April) would be a significant milestone, it's uncertain how the event itself will impact the price.
The Question:
Do you think Bitcoin will break its all-time high this week, or is Thielen's prediction overly optimistic? Share your thoughts in the comments below!
#write2earn #btc #ath #TrendingTopic!
Bitcoin to Smash Records This Week? Analyst Makes Bold Prediction
Get ready for fireworks! According to Markus Thielen, head of research at 10x, Bitcoin is poised to break its all-time high before the week ends. This prediction comes as Bitcoin recently hit a new record against the euro and is inching closer to its peak in USD terms.
Here's what's fueling the optimism:
Resilient Market: Despite attempts to liquidate long positions, "there are no sellers," Thielen notes. This suggests strong buying pressure and potentially explosive price action.
Euro All-Time High: Bitcoin already reached an all-time high against the Euro on Monday, showcasing its global appeal.
Nearing USD Peak: With the price hovering just below $67,000, Bitcoin needs to climb less than 3% to surpass its November 2021 record of $69,000.
Decreasing Exchange Holdings: A significant decline in Bitcoin held on exchanges (63,000 BTC in the past 30 days) suggests investors are moving their coins into cold storage, potentially indicating a long-term bullish outlook.
Beyond the Bullish Narrative:
It's crucial to remember that predictions are not guarantees, and the market can be unpredictable. Additionally, while reaching an all-time high before the halving (scheduled for April) would be a significant milestone, it's uncertain how the event itself will impact the price.
The Question:
Do you think Bitcoin will break its all-time high this week, or is Thielen's prediction overly optimistic? Share your thoughts in the comments below!
#write2earn #btc #ath #TrendingTopic!
$MANTA is holding above 3,33 and if he not lost this support line he will continue his journey for new #ath #BinanceTurkeySquare #Write2earn
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