Ethereum

United

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/crypto-market-observes-renewed-uptrend" data-wpel-link="internal">Crypto Market Observes Renewed Uptrend</a><br></p>
<p style="text-align: justify">The cryptocurrency market has surged upward after a period of stagnant trading. This bullish trend has been fueled by a decrease in inflation rates in the United States as indicated by recent CPI data, and growing optimism towards the approval of spot Ethereum ETFs. Investors are hopeful as Monday’s positive expectations have driven a substantial rise across the market.</p> 
<h2 id="how-are-experts-viewing-bitcoin">How Are Experts Viewing Bitcoin?</h2> 
<p style="text-align: justify">Current analysis shows that <a href="https://en.bitcoinhaber.net/bitcoin-ascends-toward-record-peak-as-etf-enthusiasm-grows" data-wpel-link="internal">Bitcoin</a> <a href="https://finance.coin-turk.com/" rel="nofollow noopener external noreferrer" target="_blank" data-wpel-link="external">investors</a> are anticipating a potential surge towards the $100,000 mark, bolstered by post-halving sentiment. Analysts at Bloomberg, including Eric Balchunas, have raised their probability estimates for Ethereum ETFs approval from 25% to 75%. The upcoming US elections may also play a role, as political factors could seek to leverage the growing number of cryptocurrency holders for electoral advantage.</p> 
<p style="text-align: justify">Ethereum’s value has responded positively to these <a href="https://newslinker.co" target="_blank" rel="noopener nofollow external noreferrer" data-wpel-link="external">announcements</a>, climbing significantly. This behavior mirrors Bitcoin’s rise prior to its own ETF approval in January. Ethereum saw its value hit $4,000, although it slightly retracted to $3,785, still maintaining a 21% increase within a 24-hour period.</p> 
<h2 id="what-is-the-impact-of-bitcoin-halving">What is the Impact of Bitcoin Halving?</h2> 
<p style="text-align: justify">April witnessed the latest Bitcoin halving, where the reward for miners was cut from 6.25 BTC to 3.125 BTC. This halving event, part of a four-year cycle, is essential for keeping Bitcoin as a deflationary asset. The reduced influx of new Bitcoin—from 900 BTC to 450 BTC daily—gradually lowers the market’s supply. If demand remains constant or rises, it could set the stage for a significant price rally.</p> 
<p style="text-align: justify">The effects of the halving are typically gradual, explaining the market’s stagnation in April and early May. This suggests a positive long-term outlook for Bitcoin, supporting the prediction of a $100,000 price by 2024. Recent weeks have seen Bitcoin rise to $72,000, driven by enthusiasm surrounding the Ethereum ETF, pushing the total market cap to $2.66 trillion.</p> 
<h2 id="concrete-insights-for-investors">Concrete Insights for Investors</h2> 
<ul> 
 <li>Bitcoin’s anticipated surge towards $100,000 reflects post-halving optimism.</li> 
 <li>Ethereum’s ETF approval odds increased significantly, indicating strong market confidence.</li> 
 <li>Political factors in the US may leverage crypto trends for electoral gains.</li> 
 <li>The reduced Bitcoin supply post-halving suggests potential long-term gains.</li> 
 <li>The current market cap rise indicates a renewed investor interest and market strength.</li> 
</ul> 
<p style="text-align: justify"><strong>Conclusion</strong></p> 
<p style="text-align: justify">The renewed uptrend in the cryptocurrency market, driven by positive inflation data and ETF approval expectations, has invigorated investor sentiment. With Bitcoin and Ethereum leading the charge, the market seems poised for a significant rally, supported by favorable regulatory and political developments.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/crypto-market-observes-renewed-uptrend" data-wpel-link="internal">Crypto Market Observes Renewed Uptrend</a></h5>

Crypto Market Observes Renewed Uptrend

Table of Contents

BH NEWS

Other articles published on May 21, 2024

Controversy Over Cardano’s Control Mechanisms Fuels Decentralization Push

Demystifying APY in Crypto: An Ultimate Guide

Multipool Partners with BSO Enabling Ultra-fast Low Latency Trading

Analyst Predicts Major Gains for ENA and ARB Amid Breakout Signals

Bitmain to Unveil Latest Trends at Antminer Oasis Event in Austin

Major Announcement: Bitgert Coin’s Price to Skyrocket by Over 600% – The Ultimate Crypto Opportunity

Join our free newsletter for daily crypto updates!