Can This Push BTC to New Highs?
The post Can This Push BTC to New Highs? appeared on BitcoinEthereumNews.com. Bitcoin is currently trading at an impressive $118,000, and the crypto world is buzzing with questions about its future. While Ethereum (ETH) has recently outperformed Bitcoin, rallying significantly in the past month, many are wondering if this signals an impending altcoin season or simply a re-evaluation of ETH’s value before both cryptocurrencies continue their upward trajectory. Let’s delve into the latest developments surrounding Bitcoin and what they might mean for its price. For those seeking a potential BTC alternative, Bitcoin Hyper (HYPER) is emerging as a notable Layer-2 solution gaining traction. It aims to address some of Bitcoin’s inherent scalability and transaction speed limitations. Source – 99Bitcoins YouTube Channel Bitcoin Price Prediction Over the past week, Bitcoin has moved sideways, showing little price action. But on a broader scale, it remains up 14% over the past month and an impressive 75% year-over-year. Despite these strong gains, recent headlines suggest no immediate breakout on the horizon. One major factor often tied to Bitcoin’s long-term value is its scarcity, especially compared to traditional assets like gold. As noted by renowned analyst PlanB, gold’s market cap stands at $20 trillion, which is 10x larger than Bitcoin’s current $2 trillion. However, Bitcoin holds a stock-to-flow ratio of 120, making it 2x as scarce as gold, which has a ratio of 60. This level of scarcity suggests Bitcoin could be significantly undervalued, possibly by as much as 10x. If that proves accurate, its price could theoretically reach $1.18 million. Tom Lee of Fundstrat recently echoed this on CNBC, predicting Bitcoin could top $1 million per coin within the next few years. Adding to the bullish outlook, BlackRock CEO said Bitcoin could reach $500,000 to $700,000 within 5 to 6 years. No matter the timing, buying and holding Bitcoin still looks like a smart long-term move. Technical…
The post Can This Push BTC to New Highs? appeared on BitcoinEthereumNews.com.
Bitcoin is currently trading at an impressive $118,000, and the crypto world is buzzing with questions about its future. While Ethereum (ETH) has recently outperformed Bitcoin, rallying significantly in the past month, many are wondering if this signals an impending altcoin season or simply a re-evaluation of ETH’s value before both cryptocurrencies continue their upward trajectory. Let’s delve into the latest developments surrounding Bitcoin and what they might mean for its price. For those seeking a potential BTC alternative, Bitcoin Hyper (HYPER) is emerging as a notable Layer-2 solution gaining traction. It aims to address some of Bitcoin’s inherent scalability and transaction speed limitations. Source – 99Bitcoins YouTube Channel Bitcoin Price Prediction Over the past week, Bitcoin has moved sideways, showing little price action. But on a broader scale, it remains up 14% over the past month and an impressive 75% year-over-year. Despite these strong gains, recent headlines suggest no immediate breakout on the horizon. One major factor often tied to Bitcoin’s long-term value is its scarcity, especially compared to traditional assets like gold. As noted by renowned analyst PlanB, gold’s market cap stands at $20 trillion, which is 10x larger than Bitcoin’s current $2 trillion. However, Bitcoin holds a stock-to-flow ratio of 120, making it 2x as scarce as gold, which has a ratio of 60. This level of scarcity suggests Bitcoin could be significantly undervalued, possibly by as much as 10x. If that proves accurate, its price could theoretically reach $1.18 million. Tom Lee of Fundstrat recently echoed this on CNBC, predicting Bitcoin could top $1 million per coin within the next few years. Adding to the bullish outlook, BlackRock CEO said Bitcoin could reach $500,000 to $700,000 within 5 to 6 years. No matter the timing, buying and holding Bitcoin still looks like a smart long-term move. Technical…
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