CandleFocus Bitcoin poised for surge, analysts expect new all-time high
2024-09-28
Author: Content Editor
Bitcoin price has reached its highest level since July 31, soaring to $66,000 this week. The surge in Bitcoin coincided with the rise of risky assets like altcoins and equities, with the Dow Jones, S&P 500, and Nasdaq 100 reaching record highs. Analysts predict that Bitcoin may continue to rise, with estimates ranging from $81,000 to $100,000 by the end of the year. BlackRock, the world's largest asset manager, referred to Bitcoin as a unique diversifier and continues to allocate it in its balance sheet, potentially inspiring other firms to do the same. MicroStrategy is also accumulating Bitcoin and predicts it will rise to over $13 million by 2045. Seasonality, technical indicators, and increasing global liquidity further support the bullish outlook for Bitcoin.
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