Bitcoin (BTC) and other cryptocurrencies are facing potential risks following the recent Federal Open Market Committee (FOMC) meeting, according to analysts. The meeting discussed possible interest rate hikes and tapering of asset purchases, which could impact the prices of digital assets.
Standard Chartered bank predicts Ethereum could surpass a price of $14,000 next year, mirroring the current boom in Bitcoin. The bank’s latest report has outlined a positive outlook for the second-largest cryptocurrency by market cap.
Standard Chartered Bank has updated its Bitcoin price forecast for 2024, now projecting an increase from $100,000 to $150,000. The bank’s analysts cited increasing institutional adoption and growing mainstream acceptance as key factors driving the revised forecast.
Bitcoin’s recent consolidation phase has set the stage for potential upside moves in several altcoins, including NEAR, APT, RNDR, and MKR. These coins have shown resilience in the face of market volatility, positioning them well for future gains.
Cryptocurrency exchange Binance CEO Changpeng Zhao, commonly known as CZ, has projected that Bitcoin is set to surpass $80,000, attributing this surge to the growing inflows from exchange-traded funds (ETFs).
Bitcoin (BTC) Price Prediction For Coming Months
BlackRock’s Bitcoin exchange-traded fund (ETF) saw a surge in daily volume, setting a new record amidst Bitcoin recouping from its recent price slump.
Bitcoin exchange-traded funds (ETFs) experienced a rapid surge in popularity on Wednesday, with over $1 billion worth of assets being allocated in just one day. This significant increase in investment signifies a growing interest in the cryptocurrency market.
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Grayscale Investments, a digital asset management firm, has recently announced the launch of its new Bitcoin Mini Trust. The firm aims to attract investors who have been deterred by high fees associated with traditional investment vehicles.
In a surprising move, President Donald Trump has expressed his support for Bitcoin and other cryptocurrencies, stating that there will be no crackdown on the digital assets if he is re-elected for a second term. This marks a significant shift in the administration’s stance on the emerging technology.
