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Bitcoin Price Could Skyrocket To $118,000 By Year-End: Here’s Why Newsbtc 01 ott 2024

Bitcoin Price Could Skyrocket To $118,000 By Year-End: Here’s Why 📈

In an analysis shared on X, Kelly Greer, Vice President of Trading at Galaxy Digital, argues for a potential Bitcoin price surge to $118,000 by year-end, based on historical Q4 performance, current market dynamics, and broader macroeconomic factors.

Greer highlights Bitcoin's average Q4 return of 85% since 2020, suggesting a significant upside. She notes that the current market is underallocated for Bitcoin due to factors like the upcoming US presidential election and interest in other assets like gold.

She also cites positive macroeconomic conditions such as global stimulus measures and easing regulatory barriers for Bitcoin custody services as key drivers for potential growth. Additionally, ETF flows and partnerships between Bitcoin miners and cloud service providers are seen as positive trends.

However, Greer acknowledges risks like Federal Reserve signals and potential equity market pullbacks but maintains an overall positive sentiment. She describes Bitcoin as a 'reflexive asset' that benefits from a cyclical pattern of price increases and investment inflows.

Fonte: www.newsbtc.com ↗

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