Long-term Bitcoin holders, those who kept their coins for over 155 days, have significantly ramped up selling. Historically, this activity suggests the market may have peaked and could be due for a correction soon, Coinlive reports.
Coinotag reports that the Michigan state legislature has proposed four new bills aimed at supporting the cryptocurrency market.
Robert Kiyosaki, a renowned investor and author of the best-selling book "Rich Dad, Poor Dad", reached out to the crypto community on social media. His message was both positive and negative.
Bloomberg data shows that Bitcoin surpassed the $111,000 mark for the first time, rising 3.1% in early Asian trading to hit a record high. Amid growing institutional demand, traders are increasingly optimistic about the outlook for the main cryptocurrency.
On Wednesday, the bitcoin price continues its upward movement, approaching an all-time high, amid the US Senate's advancement of a bill on regulating stablecoins that overcame earlier legislative hurdles.
Traders maintain a bullish outlook on bitcoin, as indicated by data from the cryptocurrency options exchange Deribit. Some market participants believe that the asset's price could rise to $300,000 by the end of June.
According to a report by River financial company, the number of Americans who own bitcoins has surpassed the number of gold holders. The study showed that 50 million US citizens have purchased bitcoin, while 36.7 million people own gold.
Fred Krueger, an experienced Wall Street trader, has made a bold prediction that bitcoin could surge to $600,000 by October 2025. He calculates that in the 20s of July, the leading digital asset will begin to rise sharply due to macroeconomic factors.
According to CEO of Bitget, Gracy Chen, as of May 19, Bitcoin-backed exchange-traded funds (ETFs) posted a cumulative inflow of more than $40 billion. Bitcoin-ETFs continue to raise significant capital since launching in early January 2024.
The world's leading cryptocurrency climbed to a 4-month high amid easing global trade tensions and improving macroeconomic signals. According to Investing, the bitcoin price was also supported by April's subdued inflation data in the US.
, an American entrepreneur and co-founder of the BitMex firm, shared his opinion on the likely rise in bitcoin's value to $200,000 as part of an interview for Yahoo Finance.
Bitcoin is the first and most commonly used cryptocurrency in the world. It holds a prominent place in the digital economy and draws the attention of traders and investors. High volatility and a wide range of influencing factors make the forecasting of its price complicated and requiring complex analysis.
Successful bitcoin trading is based on analyzing market trends, fundamentals, and technical factors.
Key elements that determine the value of bitcoin include:
Major investors and funds also have a considerable impact on the movement of bitcoin prices. Their massive purchases or sales can cause sharp fluctuations in the exchange rate. In addition, the general sentiment in the crypto market determines the dynamics of BTC, creating periods of high activity and deep corrections.
Forecasting the price of bitcoin is a complex task, as it is formed under the influence of many factors. Successful trading strategies and investment decisions require a thorough analysis of the macroeconomic situation, politics, and investor sentiment.
