Once again, Bitcoin has brought excitement to the cryptocurrency landscape as analysts predict an upward trajectory for the price of the alpha coin.
The buzz of a upsurge is making headlines as two crypto experts raised the possibility of it hitting the six-figure mark per coin, intensifying the discussion on the coin’s future.
Bitwise CIO Matt Hougan predicted that Bitcoin price will likely breach the six-figure level, saying that it is inevitable for the coin to reach that milestone.
Hougan said, in his X post, that the bullish sentiment on the digital asset put Bitcoin on a path towards trading above $100,000.
He explained that several favorable factors fuel the coin’s amplified growth, exciting traders and enthusiasts on what lies ahead for the virtual currency.
We’re heading to six-figure bitcoin.
* ETF flows reaccelerating
* Election approaching
* Infinite deficits (bipartisan agreement!)
* Economic stimulus in China
* Global rate cuts (Fed, ECB)
* Halving supply shock starting to bite
* Whales accumulating
— Matt Hougan (@Matt_Hougan)
Keiser’s Projection
Meanwhile, maximalist Max Keiser shared the same sentiment about the future of BTC price, but his prediction is more than twice the price estimate given by Houghan.
Keiser, who is also an advisor to El Salvador’s president Nayib Bukele, made a bold statement that Bitcoin price would surge to $220,000, saying that the coin is on track to reach a new all-time record for its price.
The new ATH Gold price is predicting Bitcoin will trade over $220,000 very soon.
— Max Keiser (@maxkeiser)
Key Factors For The Six-Figure Price
Houghan explained that a surge in BTC price is more likely due to several factors driving its price appreciation such as institutional interest, on-chain factors, and macroeconomics. All of these, he said, greatly contribute to the crypto’s price moving upward.
Bitcoin is now trading at $68,393. Chart:
On the other hand, Keiser believed that the alpha coin’s price would skyrocket because of , saying it is another “safe haven asset.” Currently, gold reached a new record of $2,713.88 per ounce, the first time it has happened in the last four years.
Keiser suggested a correlation between gold and the crypto, arguing that once gold price hits an all-time high, Bitcoin will follow and reach a similar milestone.
He tweeted that for every $1 price hike in gold, Bitcoin moves up by $20. Hence, he is confident that Bitcoin can quickly reach the $220,000 level in the near future.
Bitcoin And The US Election
The looming US in November is seen as another catalyst in Bitcoin’s price appreciation.
It has been observed that Bitcoin has been one of the key issues that US political candidates face in this year’s elections, wherein it has become necessary to stipulate their stance on cryptocurrencies.
However, some believe that BTC prices will continue to have a strong performance regardless of who wins the presidential race.
They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
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Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!
So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
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