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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-price-surges-after-market-recovery" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Price Surges After Market Recovery</a><br></p>
<p style="text-align: justify">Bitcoin (BTC) experienced a resurgence following a significant dip earlier in the week, riding the wave of a broader market recovery. On Friday morning during Asian trading hours, Bitcoin’s price briefly surpassed $62,000 before pulling back slightly. This uptick has led analysts to revisit the ambitious year-end target of $100,000 for the cryptocurrency.</p>
<h2 id="what-boosted-bitcoin-s-rise">What Boosted Bitcoin’s Rise?</h2>
<p style="text-align: justify">U.S. markets demonstrated a robust performance on Thursday, with the S&amp;P 500 enjoying its best day since November 2022 and the tech-focused Nasdaq 100 gaining 3.1%. This positive sentiment permeated the cryptocurrency market, bolstering Bitcoin’s price. The recovery helped restore investor confidence in both stocks and cryptocurrencies after a challenging start to the week.</p>
<p style="text-align: justify">Bitcoin recorded a 7.2% increase in the last 24 hours, marking one of its most significant daily gains in recent months. This surge led to over $100 million in losses for investors holding short positions in Bitcoin futures, making it the fourth-largest short liquidation for Bitcoin this year.</p>
<h2 id="reasons-behind-bitcoin-s-climb">Reasons Behind Bitcoin’s Climb?</h2>
<p style="text-align: justify">Market analysts credit the rise to the upbeat sentiment in the stock market and expectations that Bitcoin will follow its historical market cycles. Michael Terpin, founder of Transform Ventures, predicts that Bitcoin’s price is unlikely to dip much below $50,000, citing the Bank of Japan’s decision not to raise <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">interest rates</a> and the reduced Bitcoin holdings of major sellers. Terpin anticipates strong gains for Bitcoin in October and November, aligning with its traditional four-year cycle.</p>
<p style="text-align: justify">He also mentioned that a potential victory for Donald Trump in the U.S. elections could push Bitcoin’s price above $100,000. Terpin highlighted that historically, the months following a block reward halving see significant price movements, and the current cycle is expected to follow this trend.</p>
<h2 id="key-inferences">Key Inferences</h2>
<p style="text-align: justify"><strong>Actionable Insights:</strong></p>
<ul>
 <li>Monitor market sentiment and major indices like the S&amp;P 500 and Nasdaq 100 for clues on Bitcoin’s direction.</li>
 <li>Consider the historical cycles of Bitcoin when making investment decisions, particularly around block reward halving periods.</li>
 <li>Stay informed about macroeconomic decisions, such as central bank interest rate policies, that impact cryptocurrency markets.</li>
</ul>
<p style="text-align: justify">This recent surge in Bitcoin also triggered upward movements in other major cryptocurrencies. Ethereum (ETH) and Toncoin (TON) saw a 10% rise, while Solana (SOL) and Cardano (ADA) increased by 5%. <a href="https://en.bitcoinhaber.net/lawyer-bill-morgan-clarifies-xrps-legitimacy-and-dispels-market-fears" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP</a> experienced a slight decline after a 17% rise on Thursday due to profit-taking.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-price-surges-after-market-recovery" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Price Surges After Market Recovery</a></h5>

Bitcoin Price Surges After Market Recovery

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