By NewsBlogger Bitcoin has experienced significant price fluctuations recently, with analysts offering various predictions for its future price movements. At the same time, notable figures in the crypto space have differing forecasts ranging from $52,000 to $1 million.
At a glance
- Bitcoin surged past $63,000 on May 10, indicating strong bullish momentum.
- Analysts predict Bitcoin’s future price movements, with some suggesting a potential surge to nearly $110,000 by the end of the year.
- Notable figures in the crypto space have made predictions, with targets ranging from $78,000 to $110,000.
- Renowned personalities like Robert Kiyosaki, Adam Back, Michael Saylor, and Cathie Wood offer optimistic price forecasts for Bitcoin, with some projecting prices as high as $1 million.
- The cryptocurrency market experienced losses in the past 24 hours, with Bitcoin dropping below $61,000 and significant liquidations due to increased volatility.
The details
Bitcoin, the leading cryptocurrency, has recently seen significant price fluctuations.
On May 10, Bitcoin surged past $63,000, indicating strong bullish momentum.
Analysts have put forth various predictions for Bitcoin’s future price movements, with some suggesting a potential surge to nearly $110,000 by the end of the year.
Notable Figures Predictions:
Notable figures in the crypto space, such as Titan of Crypto, have pointed out Fibonacci circles on Bitcoin’s price chart, predicting a cycle top of around $110,000. Captain Faibik has set a target of $78,000 in the next green wave, while Mikybull Crypto believes Bitcoin is gearing up for a post-halving massive rally.
However, analysts like Michael van de Poppe warn that Bitcoin could drop to the $52,000-$55,000 range if it falls below $61,000.
Renowned Personalities Forecasts:
Renowned personalities like Robert Kiyosaki, Adam Back, Michael Saylor, and Cathie Wood have offered optimistic price forecasts for Bitcoin.
Robert Kiyosaki initially projected a price target of $300,000 by 2024, later revising it to $100,000. Adam Back envisions a rally to $700,000, surpassing BTC’s market cap over physical gold.
Michael Saylor and Cathie Wood even predict Bitcoin trading at $1 million.
However, the cryptocurrency market as a whole experienced losses in the past 24 hours, with Bitcoin dropping below $61,000 alongside significant losses in altcoins.
The sudden drop in Bitcoin’s price, which was trading flat around $63,000 before the decline, resulted in over $200 million worth of liquidated positions due to increased volatility.
The market sentiment turned bearish following a statement from a US Federal Reserve representative, triggering a negative reaction among investors.
The President of the Dallas Fed suggested that it may be premature to consider rate cuts, further impacting market sentiment.
Bitcoin’s price fell to $60,300 on Friday, marking a 2.5% decline from its previous levels.
The cryptocurrency faced increased volatility, leading to $175 million in liquidations over the past 24 hours.
The largest liquidation occurred on a Binance BTC/USDT trade amounting to $3.56 million.
Additionally, discussions around interest rates and inflation targets were raised, with the Atlanta Fed President predicting a potential rate decrease before the year-end.
Lower interest rates are generally viewed positively for Bitcoin and stocks, as they provide cheaper debt for acquiring risk assets.
Overall, the cryptocurrency market remains volatile, with Bitcoin’s price movements closely monitored by analysts and investors for potential further developments in the near term.
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| cryptopotato.com |
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| – Bitcoin rebounded past $63,000 on May 10 – Analysts predict Bitcoin could reach near $110,000 by the end of the year – Titan of Crypto observed Fibonacci circles on BTC’s price chart, predicting a cycle top of almost $110,000 – Captain Faibik predicts BTC will reach $78,000 in the next green wave – Mikybull Crypto suggests Bitcoin is preparing for a post-halving massive rally – Some analysts, like Michael van de Poppe, believe BTC could drop to $52,000-$55,000 if it falls below $61,000 – Robert Kiyosaki, Adam Back, Michael Saylor, and Cathie Wood have presented optimistic BTC price forecasts – Robert Kiyosaki initially projected Bitcoin could reach $300,000 by 2024, later changing it to $100,000 – Adam Back envisioned a rally to $700,000 and BTC’s market cap surpassing that of physical gold – Michael Saylor and Cathie Wood predict BTC trading at $1 million in the future |
| cryptopotato.com |
|---|
| – Cryptocurrency market experienced losses in the past 24 hours – Bitcoin dropped below $61K – Altcoins also saw significant losses – Bitcoin was trading flat around $63K before sudden drop – Over $200 million worth of liquidated positions due to volatility – Statement from US Federal Reserve representative triggered drop – President of Dallas Fed suggested it may be too early for rate cuts – Market reacted negatively to statement, charts are in red – Bitcoin trading at $60,800, down 3.5% in past 24 hours – ETH lost 4.1%, SOL down 6%, DOT down almost 6% – Other coins like BCH, AVAX, and UNI also saw losses – Prices have stabilized, analysts monitoring for further bearish movement – THETA and RUNE lost the most in past 24 hours – CHEEL and AKT saw increases of around 3% |
| cryptopotato.com |
|---|
| – Bitcoin’s price fell 2.5% to $60,300 on Friday – Bitcoin traded for $63,400 at noon UTC on Friday before dropping below $61,000 – Volatility triggered $175 million in liquidations over the past 24 hours – The largest liquidation was on a Binance BTC/USDT trade for $3.56 million – Dallas Fed President Lorie Logan suggested it may be too early to think about cutting rates – Core PCE inflation has not made meaningful progress towards the 2% target – Data showed a rise in consumers’ inflation expectations to 3.5% next May – Atlanta Fed President Raphael Bostic predicted interest rates may come down by 25 basis points before the end of the year – Lower interest rates are seen as positive for Bitcoin and stocks, providing cheaper debt for buying risk assets |
