CandleFocus ? Bitcoin Officially Breaks $91,000 Peak Amid CPI Data Release
2024-11-13
Author: Content Editor
Bitcoin has broken the $90,000 level and is potentially heading towards $100,000 as investors react to the latest U.S. inflation data. Despite concerns about potential volatility, Bitcoin has rebounded higher instead of experiencing a bearish turn. Long-term holders are showing resilience and are not exhibiting signs of extreme greed, suggesting there may be room for further upside. In addition, CEO Samson Mow predicts that Bitcoin could eventually reach seven figures, driven by macroeconomic pressures and potential measures such as the U.S. rebasing its dollar to Bitcoin's smallest unit. Mow remains optimistic about Bitcoin hitting $100,000 by year-end, citing growing demand for Bitcoin-backed exchange-traded funds.
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