Bitcoin Price Prediction: Almost $118K and Up 3.6% – Is $120K the Next Stop?
Main Idea
Bitcoin's price is approaching $120,000, driven by institutional demand and changing market dynamics, with analysts noting a potential shift in its traditional 4-year halving cycle.
Key Points
1. Bitcoin is currently priced at $117,500, up 3.6% for the week, with a market cap of $2.34 trillion and $58.4 billion in daily volume.
2. The traditional 4-year halving cycle, which previously saw BTC drop 70-80%, is showing signs of breaking, with the 2024 correction being only 26%.
3. Experts like Ryan Chow and Matt Hougan predict future pullbacks of 30-50% and see Bitcoin as more attractive to long-term investors.
4. Kraken has launched xStocks, offering tokenized equities backed 1:1, while Coinbase added DEX trading to its US app, excluding New York.
5. Technical analysis suggests Bitcoin could target $123,250 and $127,000 if momentum holds, with support between $113,400 and $116,500.
Description
Bitcoin is at $117,500, up nearly 1% in the last 24 hours, with a market cap of $2.34 trillion and $58.4 billion in daily volume. It’s up 3.6% for the week and closing in on $120,000 as institutional demand and market dynamics reshape the old price cycles. Market Cycles Changing Bitcoin’s 4-year halving cycle, where major peaks occur about a year after each halving, is showing signs of changing. In 2024, BTC hit $73,000 in March, well ahead of the cycle peak. Analysts point to US Bitcoin ETFs, i...
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