Bitcoin Might Reach $69K Next Summer? – 268

Bitcoin could hit $69,000 by mid 2024 as It enters acceleration phase analyst Says Bitcoin prices have doubled this Year amid a spot ETF pushed by prominent Traditional Finance firms Bitcoin prices Could regain their lifetime Peak price Over $69,000 by mid 2024 as they undergo An acceleration phase marked by Volatility and a sharp rally some Traders expect that is an 88% gain from Current prices of $36,500 of course Today we're over that $37,000 mark on Bitcoin quote Bitcoin uptrends tend to Move quickly once they get going moving Hundreds of percent often in less than a Year end quote shared Corey Mitchell an Analyst with a trading. Biz in a Friday Note to coindesk this is called the Acceleration phase now of course when We're talking about this phase in Particular it's fully expected for us to Start to see it after the having and the Having is going to be happening in April Of 2024 or so usually that acceleration Phase in the past has been the 6 months After of course the having not before That but we're starting to see a little Bit of a different type of interaction Due to the ETFs due to higher retail Visibility on the prices of Bitcoin Etc And so if you want to understand the Having cycle and how that impacts the Price of Bitcoin I go into more detail In my crypto mining ecourse at son ofate

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Tech.com if you want to check that out You can but let's go ahead and pop more Back into this according to Mitchell Really big gains happen a year and a Half after the bottom meaning near 90° Price surge could resume sometime around Mid 2024 the cryptocurrency bottomed out In November of last year quote in 2013 Bitcoin rallied 1,00 % in approximately 100 days in 2017 it rallied 1,00% in Just under a year in late 20120 it Rallied 400% in about 140 Days end quote Mitchell said warning of several Pullbacks and price dumps on the way to Retake of highs of course these Pullbacks should be completely expected Over the next few months especially once We get to the point to where the price To Mint Bitcoin is actually increased by Of course the having in April that I Think before that you're going to see More pullbacks and so on before that Kind of comes into fruition that being Said for miners to really be profitable Across the board meaning current miners That are out there based on average Electricity costs it will need to hit Last time I calculated between 45,000 50,000 by April do we get there I would Assume so at some point however how is That impacting you know how high we can Go in the future and so on and what They're talking about here specifically

Because this is kind of going off of These ranges based on the actual time as As opposed to the actual Reliable source for Asic miners if you Are looking to purchase ASX Hardware From Bitcoin to Dogecoin miners they are Available for purchase on bt- miners.com BT miners has recently launched an app On IOS and Android that let you browse Their inventory by profitability and Return on investment follow the Affiliate Link in the description and Use promo code s o a for a Discount over the past year the world's Largest asset by market capitalization Has seemingly shaken fears stemming from Multiple bankrupt bankruptcies of Prominent players in the industry and a Generally bearish economic environment By gaining almost 116% recent bullish sentiment has been Largely booed by spot Bitcoin exchange Traded fund filings in the US bumping Expectations that regulated offerings Could open the gates to widespread Institutional demand demand and usage For regulated instruments have grown in Tandem with prices on Thursday Bitcoin Futures traded on the Chicago mertile Exchange the CME for short registered The highest volumes worldwide toppling Those of industry leader binance open Interest or the amount of unsettled Futures stood at roughly $

4.07 billion us up some 4% in the past 24 hours and representing a 24.7% market share In contrast open interest on binance Stood at $3.8 billion down 7.8% during The same period Market observers told Coindesk they considered the rise as Indicative of institutional demand for Bitcoin products now of course this is Something that I would ask you guys out There we've been in cryptocurrency for a Long time and the entire idea of Institutional money coming into Bitcoin Is kind of a a a step on the lad to the End goal which is of course removing the Need for any of these institutional Instruments for me to be TR able to Transact peer-to-peer with an individual And not have these interferences so are These interferences from institutional Demand a positive or A negative from Your point of view I'd like to hear your Thoughts in the comment section below as Well as the live chat I'm definitely Pretty mixed on it if I do you take a Look at Bitcoin as being the Trojan Horse as advertised then the idea would Be as more institutional money comes Into Bitcoin in general then of course That boosts up the price of Bitcoin for Everybody that has been in in the past But if we're supposed to have a new Currency that provides a solution for All individuals even those that have not

In the past invested in Bitcoin at a Lower economic level do they get Impacted negatively by this and this is Something that kind of runs around in my Head uh over and over and over again so Maybe a little bit of clarification or Insight from you guys in the comments And live chat would be appreciated so I Could maybe form a better more thorough Opinion on That thanks for watching this clip from The crypto mining show you can check out The full episode here and don't forget To subscribe down here as well you can Also check out my crypto mining e course At sonof tech.com where you can get a Free month of supporter status with a Purchase at sonof tech. locals.com also Don't forget to check out my merch Underneath the video or at shop.of Ach.com I'll see you next Tuesday

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