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News Commentary #1,207 – HightWolf | Bitcoin $ 80,000 In 2024?

HightWolf (reviewed here) has brought more news with predictions about future Bitcoin price. Considering this, I must say that there are still a lot of spiculations on this matter. There are different forecasts, in which some say that it could reach $ 100,000, $ 200,000, $ 388,000, and those who predict $ 0 (uncluding Dan Peña 🙂 Click this LINK to watch!) when the entire economic system collapses and a sort of digital dollar appears in the world as a new reserve currency.

Let’s check the latest news of HightWolf platform:

Bitcoin will grow to $ 80,000 by 2024.

Bitcoin (BTC) price had been acting inside a narrow range for the last few weeks but the momentum and trend shifted as a bullish breakout occurred on the announcement that Square had allocated 1% of its cash reserves to BTC.

This bullish breakout even caused the price to rally from $10,600 to $11,500, which is almost $1,000 in a few days. The area around $17,000 is the next central pivot, and final hurdle before new all-time highs can occur.
 
In the past three years the U.S. Securities and Exchange Commission has shot down several applications for a Bitcoin (BTC) exchange-traded fund. This dashed hopes of many investors who believed Bitcoin price would rally higher if an EFT was approved. 
 
Although investors no longer pin BTC’s future on the existence of an ETF, regulators could eventually adjust their anti-crypto stance in the future.
 
In an interview with Cointelegraph, SEC Commissioner Hester Peirce said that the regulator will have to become accommodative to innovation as several people from both the crypto space and traditional financial institutions seek their guidance.
 
Bloomberg’s latest crypto newsletter predicts that a Bitcoin ETF could see the light of the day if Democratic presidential nominee Joe Biden is elected as the next U.S. President. The author believes that a change in guard may bring regulatory clarity that could attract investments into digital assets.
 
However, even if President Donald Trump is re-elected, Bloomberg expects Bitcoin to extend its uptrend through his second term as the digital asset will be buoyed by the rising debt-to-GDP, quantitative easing, and Bitcoin hash rate. 
 
Even if Bitcoin only rallies at half the speed of its 1,400% gain from 2016 to 2020, it would rally to $80,000 by 2024.
 
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