Bitcoin

April

The post <a href="https://coinpedia.org/price-analysis/bitcoin-price-prediction-will-btc-price-hit-new-ath-in-q2-2024/" rel="noopener noreferrer nofollow">Bitcoin Price Prediction: Will BTC Price Hit New ATH in Q2-2024?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
<a href="https://www.youtube.com/watch?v=a-6ivXJ6H90" rel="noopener noreferrer nofollow">Analyst Brian Jung </a>predicts that Bitcoin will reach an all-time high soon, which could trigger a surge in altcoin prices. According to Jung, the recent performance of the S&amp;P 500, which has been hitting new all-time highs, suggests a positive correlation between the stock market and cryptocurrencies. He believes that as more investors enter the stock market seeking higher returns, they may also turn to cryptocurrencies, driving up prices.
Jung notes that Bitcoin is currently just $200 billion away from its previous all-time high market cap. He highlights the significant inflows of institutional money into Bitcoin, estimating that institutions are accumulating Bitcoin at a rate of $4 to 6 billion daily.&nbsp;
The analyst said that Bitcoin is accumulated at a rate of $4 to $6 billion daily in new inflows. Doing some basic math based on supply and demand economics, if Bitcoin gains $5 billion a day in inflow, it would take just 40 trading days to achieve a $200 billion increase in market cap. Even if the inflows slow down dramatically to $2.5 billion daily, it would still reach Bitcoin’s previous market cap in 80 days, potentially driving the price over $69,000.&nbsp;
He believes Bitcoin will reach a new all-time high around April 1st, although he acknowledges the unpredictability of the market. Additionally, he noted that the selling pressure on Bitcoin from GBTC has diminished, and FTX holders receiving USD credits may reinvest in the market.&nbsp;
Considering various factors aligning for April, such as the Bitcoin halving, he suggests being prepared for potential volatility and a selloff. He anticipates a potential peak for Bitcoin between $70,000 and $74,000 before another selloff, with the possibility of surpassing $100,000 or even $200,000 in the future.

Bitcoin Price Prediction: Will BTC Price Hit New ATH in Q2-2024?

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