Bitcoin FOMO Is Back: $70K and New Record in Sight

Analyst Markus Thielen of 10X Research has noted that the issuance of $10 billion worth of stablecoins in recent weeks has flooded the crypto market with liquidity.

Impressive gains from the Federal Reserve’s interest rate cut in mid-September, combined with China’s economic stimulus plans, have helped push BTC prices out of their bear market, according to a new research report.

“The FOMO Ghost Is Back: Do You Hold Enough Bitcoin and Altcoins to Ride the New Wave,” reads the headline of 10X Research’s latest analysis. “With bitcoin breaking above $65,000, we expect a rapid rally to $70,000, followed by new highs in the near future.”