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Showing posts from January, 2023

By the end of 2024, Bitcoin price is expected to reach $100,000! The crypto bull market is back

By the end of 2024, Bitcoin price is expected to reach $100,000! The crypto bull market is back. Bitcoin, the top cryptocurrency, could hit $100,000 by the end of 2024, according to a report by Jeff Kendrick, head of digital asset research at Standard Chartered Bank. By the end of 2024, we could see Bitcoin (BTC) reaching the $100,000 level , as we believe the much-hyped "crypto winter" is finally over. According to Kendrick, Bitcoin could benefit from many factors. For example, recent instability in the banking sector due to the end of the Fed's rate hike cycle and the increased profitability of cryptocurrency mining. As uncertainty persists, Kendrick believes the path to the $100,000 level is becoming more apparent. Bitcoin has bounced back this year, topping $30,000 for the first time in 10 months. However, the crypto industry lost trillions of dollars in 2022 after the Fed raised interest rates. Observers Are Arguing About Bitcoin Standard Chartered isn't the only

ETF issuer VanEck has multiple predictions for the crypto market in 2023

ETF issuer VanEck has multiple predictions for the crypto market in 2023 On the occasion of December 2022, ETF issuer VanEck published several predictions for the crypto industry in 2023. It said that volatility is the key word in the cryptocurrency world. With 2022 ending in the swift collapse and bankruptcy of countless exchanges, VanEck predicts that the financial disruption of cryptocurrencies will continue. Here are a few predictions from VanEck for the crypto industry in 2023: Prediction 1: Bitcoin continues to plummet Amid a wave of miner bankruptcies, the price of Bitcoin will drop to $10-12,000 in the first quarter of 2023, marking the low point of the crypto winter. The MVIS® Global Digital Asset Mining Index median market capitalization is now only $180 million, which means that almost all constituent stocks are burning cash and trading far below book value. VanEck expects many miners to restructure or consolidate their operations. On this occasion, miners can maintain their

How will Bitcoin develop in 2023?

How will Bitcoin develop in 2023? 2023 has arrived. Looking back on the turbulent ups and downs of the encryption market in the past year, many profound changes have occurred during this process, and many new features have also been displayed. Since its birth in 2008, Bitcoin has only existed in the cryptocurrency punk community at the beginning. However, it has become familiar to people worldwide and has even been recognized as a legal currency in some small countries. With Bitcoin's continuous development and growth, the price factors and weights affecting Bitcoin are undergoing earth-shaking changes. The new cycle also presents characteristics mainly manifested in the following aspects. 1. Bitcoin de-Sinicization is becoming more and more popular in Western countries such as the United States In recent years, China has further cracked down on the Bitcoin mining  industry, leading to the de-Sinicization of the Bitcoin industry. As a result, the impact on the encryption market has