Pie 42000!!!!
Due to multiple factors such as the potential approval of spot ETFs, the halving narrative and rising interest rate cut expectations, the price of Bitcoin exceeded the $40,000 mark for the first time this year, further stimulating optimism about the mid- to long-term prospects of the crypto market. But at the same time, the market's concerns about a short-term correction are intensifying as Christmas is approaching.
CoinGecko data shows that as of December 4, the price of Bitcoin has risen to $41,000, with an intraday increase of 4.6%, a new high since April 2022. Affected by this, Coinglass data shows that in the past 24 hours, contracts across the entire crypto market have liquidated approximately US$174 million, of which Bitcoin liquidated over US$63.149 million.
As the market value of Bitcoin rebounds, the latest data from 8marketcap shows that Bitcoin currently surpasses Buffett’s Berkshire Hathaway ($777.3 billion) and Tesla (Tesla, $759.22 billion) at $806.99 billion, re- It has become the tenth largest asset in the world by market value.
Many institutions have also made optimistic predictions about the next market trend. According to the latest report from Matrixport, Bitcoin is expected to reach $63,140 in April 2024 and $125,000 by the end of 2024. The agency attributes this trend to historical trends, the mining reward halving, and favorable geopolitical and macroeconomic factors, and predicts a three-year bull market.
Galaxy Digital CEO Michael Novogratz recently said in an interview with Bloomberg TV that the price of Bitcoin is expected to "increase significantly" because the US SEC may approve the first US spot Bitcoin ETF. He predicted that when the announcement of a spot Bitcoin ETF launch is actually made, BlackRock, Ark, Fidelity, and his own firm will “use their sales power to convince people to adopt Bitcoin.” Bitcoin prices are set to rise significantly, especially with the possibility of the Federal Reserve cutting interest rates, and it is believed that Bitcoin could reach all-time highs by this time next year.
