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Blockchain & Cryptocurrency
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Bitcoin: Traders Optimistic Despite Uncertainty
2024-09-06 23:55:08
Trading
Markets
Stocks

Bitcoin: Traders Optimistic Despite Uncertainty

Bitcoin traders remain optimistic about BTC finishing September above $60,000, despite historical price declines and potential short-term volatility. Analysts warn of a potential correction below $50,000, but also highlight bullish signals such as technical indicators and a potential breakout.

Bitcoin's struggle to stay above $60,000 is attributed to global market uncertainties and reduced demand. The crypto market sentiment has dropped to a one-month low, with increased liquidations and declines in altcoins.

Bitcoin experienced volatility after the US jobs report and may be influenced by the Fed's interest rate cuts. Despite short-term risks, some analysts believe Bitcoin could reach $115,000 by 2024. The future of Bitcoin is also tied to political shifts and the impact of regulatory bodies.

On the positive side, Bitcoin withdrawals from exchanges have reached a three-year low, indicating a potential bullish trend.

The press radar on this topic:

The Street
10. September 2024 um 22:03

Why is bitcoin struggling to stay above $60,000?

Finance
Cryptocurrencies & blockchain
Bitcoin struggles to stay above $60,000 due to global market uncertainties, reduced demand, ETF outflows. Bitcoin's price plunged 6% over the past week and experienced a 9% drop from earlier this month. Altcoins like Toncoin and Notcoin face declines, with Telegram CEO Pavel Durov's arrest and TON network outages impacting Toncoin. Ether and Solana prices drop significantly. Dogecoin also registers losses. Increased liquidations as traders exit investments with plummeting values. QCP Capital b..
The Street
11. September 2024 um 14:03

Why Bitcoin can still hit $115K, according to one of crypto's top analysts

Cryptocurrencies & blockchain
Finance
Economy
Fundstrat's Sean Farrell forecasts Bitcoin could reach $115K by 2024, citing historical patterns, current market dynamics, and rising stablecoin inflows, despite short-term volatility from the summer doldrums and low-liquidity environment. He acknowledges risks like geopolitical tensions, stag-flation, and Ethereum's Layer 2 challenges, but believes Bitcoin's long-term outlook is robust.
The Street
16. September 2024 um 18:30

Bitcoin prices may drop by up to 20% if Fed cuts interest rates: Bitfinex

Finance
Cryptocurrencies & blockchain
Economy
Bitfinex analysts forecast 20% bitcoin drop if Fed cuts rates; bitcoin price influenced by traditional assets, inflation, job market, Powell's rate cut comments; September historically volatile for bitcoin, with 4.78% average return and 24.6% peak-to-trough decline, due to end-of-summer trading lull, but positive returns possible; no guaranteed negative outcome.
The Street
13. September 2024 um 08:51

Bitcoin exchange reserves hit lowest level since 2018

Cryptocurrencies & blockchain
Finance
Bitcoin withdrawals worth $1 billion from exchanges signal bullish trend with 16,500 BTC moved. Investors opt for self-custody or cold storage, away from centralized entities. Analysis suggests a potential price surge following Bitcoin halving events. Price dropped from $64,100 to $57,886, now trading around $58,000-$59,000.
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