Bitcoin and cryptocurrency prices have fluctuated wildly in recent weeks as Wall Street quietly prepares for a massive $6.6 trillion Federal Reserve reversal.
Bitcoin prices have fallen from an all-time high of $126,000 per Bitcoin, but have stabilized after the “flash crash” sparked fears of a total collapse. “The impending dollar and financial crisis.”
Currently the founder of Binance Announcing a huge Bitcoin prediction of $28 trillionbullish traders in Bitcoin and cryptocurrencies said that if Bitcoin prices rise, the price may never fall below $100,000 again.
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“The next absolute positive confirmation will be a new all-time high for Bitcoin. If that happens, it will be a death sentence for those clinging to the halving as a reason for Bitcoin prices to peak now,” Jeffrey Kendrick, head of crypto research at Standard Chartered, said in an email. “If things go well this week, Bitcoin may never fall below $100,000 again.”
Kendrick cited the flow of Bitcoin and crypto exchange-traded funds (ETFs), the growing likelihood of a U.S.-China trade deal, and an expected rate cut by the U.S. Federal Reserve this week as factors pushing the price up from its lows of nearly $100,000 earlier this month.
“I think the halving cycle is over (ETF flows are more important), but it will take confirmation to convince everyone of this,” Kendrick wrote.
Bitcoin’s ownership cycle, in which the number of new Bitcoins issued to miners who secure the network and process transactions is halved approximately every four years, has coincided with the spike and crash in Bitcoin’s price over the past 15 years, but a growing number of analysts believe institutional adoption of Bitcoin and cryptocurrencies will have a major impact on Bitcoin’s price.
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“This cycle of rotation rather than rejection reveals structural consolidation,” analysts at Bitfinex cryptocurrency exchange said in an emailed market commentary. “If that happens, cryptocurrencies could become a barometer of global capital adjustments and indicate how markets adapt to macro shocks in real time.”
Bitcoin and crypto markets are also closely watching for signs that the Federal Reserve will follow other major central banks in becoming more dovish in the coming months.
“Looking ahead, policy differences will shape near-term sentiment,” Bitfinex analysts wrote. “The Fed has successfully reconciled softening manufacturing and services data with oil-driven inflation, while the ECB and Bank of England have turned dovish, and the Bank of Japan has faced increasing scrutiny over its yield curve and currency defensive stance. Cryptocurrency’s relative calm in this environment may reflect the maturity of its structure, liquidity depth, and institutional alignment.”
