Is Bitcoin poised for a major price rally? As the Bitcoin risk index reaches its peak, market analysts suggest the cryptocurrency may be nearing a bottom, with the potential for a powerful upward movement.
Discover the insights and predictions shaping the future of BTC in the coming months.
Bitcoin Risk Index Hits 100
On September 10, 2024, the co-founders of Glassnode, a prominent cryptocurrency market analysis platform, shared their outlook on Bitcoin (BTC), predicting that the cryptocurrency may establish a clear bottom and transition into a strong upward trend in the near future.
This insight was shared on the X account of Negentropic (@Negentropic_), an account managed by the Glassnode co-founders.
According to their forecast, Bitcoin's risk index is expected to reach 100 this weekend, followed by a slight decrease in risk.
Negentropic explained that when the Bitcoin risk index reaches 100 and subsequently drops, the price of Bitcoin tends to surge.
"If the risk decreases from this point, there is a high likelihood that Bitcoin will bottom out and enter a robust upward trend," they stated.
Other Predictions for Bitcoin Price Increases
Over the past few months, Bitcoin has experienced a decline and stagnation in price, leading some to speculate that the bull market for this halving cycle may already be over.
However, numerous well-known analysts in the cryptocurrency industry have forecasted further price increases for BTC. Some believe that "Bitcoin is headed towards $500,000," while others suggest that "Bitcoin could rise for three consecutive months in the near future."
Bitcoin and other cryptocurrencies tend to bottom out when general investor interest wanes due to price drops and stagnation. Conversely, they often hit a peak when interest surges amid significant price rallies.
Given the long-term decline and reduced interest, coupled with the risk index reaching its peak, it is possible that a bullish market may soon resume.
>> Click here for the latest bitcoin-related news
-
Bitcoin and the U.S. Presidential Election: "Price Surge Under Trump, Decline Under Harris," Predicts Bernstein
As the 2024 U.S. presidential election approaches, its potential impact on Bitcoin has become a hot topic. Bernstein’s latest report outlines a stark contrast in Bitcoin's future depending on the winner—Donald Trump’s victory could drive prices up to $90,000, while Kamala Harris’s win might cause a significant drop below $50,000. Pro-crypto policies could be the key factor in shaping the future of blockchain technology and cryptocurrency adoption. How will the election results influence the crypto market? Read on to explore the possible scenarios. Contents1 Bitcoin Price Prediction: $90,000 Under Trump, $30,000 Under Harris2 Pro-Crypto Policies Could Accelerate Technological Adoption Bitcoin ...
続きを見る