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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/markus-thielen-predicts-bitcoin-prices-to-surpass-70000-soon/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Markus Thielen Predicts Bitcoin Prices to Surpass $70,000 Soon</a><br></p>
<p style="text-align: justify">Markus Thielen, founder of 10x Research, forecasts that Bitcoin’s price will exceed $70,000 within the next two weeks and reach a new all-time high of over $73,000 by the end of October. He identifies factors supporting this <a href="https://en.coin-turk.com/key-developments-in-the-crypto-and-financial-markets-this-week/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> rally, including increased stablecoin liquidity and recent monetary policy easing in China.</p>
<h2 id="bitcoin-price-forecasts-and-trends">Bitcoin Price Forecasts and Trends</h2>
<p style="text-align: justify">Thielen emphasizes that Bitcoin’s recent surge above $65,000 signals an exit from a downturn, and he predicts the upward momentum will continue. His charts suggest that Bitcoin’s price could rise as high as $75,000.</p>
<h2 id="china-s-contribution-to-btc-rally">China’s Contribution to BTC Rally</h2>
<p style="text-align: justify">Thielen discusses China’s historical role in Bitcoin mining and how recent incentive measures could bolster the Bitcoin price rally. Mining pools, which contributed 55% of the Bitcoin exported from China, previously held a 90% trading share in 2014.</p>
<h2 id="threats-to-bitcoin-s-dominance">Threats to Bitcoin’s Dominance</h2>
<p style="text-align: justify">Thielen notes a recent weakening in Bitcoin’s market dominance. The Federal Reserve’s rate cuts have led to increased Ethereum gas fees, posing a potential threat to Bitcoin’s dominance.</p>
<blockquote>
 <p>Markus Thielen stated, “China’s $278 billion stimulus plan could trigger a parabolic rally for BTC and other <a href="https://en.coin-turk.com/anticipation-peaks-as-sec-decision-on-bitcoin-etf-nears/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrencies</a>.”</p>
</blockquote>
<p style="text-align: justify">He predicts that if the Federal Reserve remains open to interest rate cuts by the end of the year, this trend could continue. Currently, Bitcoin trades around $65,500, and stablecoin minting has significantly increased since July, with Circle contributing 40% to recent liquidity inflows.</p>
<p style="text-align: justify">Thielen also adds that if Donald Trump is re-elected, pressure on the Federal Reserve to lower interest rates could extend the Bitcoin rally into the first half of 2025, potentially creating a favorable environment for Bitcoin and other cryptocurrencies due to increased global liquidity.</p>
<p>The post <a href="https://en.coin-turk.com/markus-thielen-predicts-bitcoin-prices-to-surpass-70000-soon/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Markus Thielen Predicts Bitcoin Prices to Surpass $70,000 Soon</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Markus Thielen Predicts Bitcoin Prices to Surpass $70,000 Soon

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