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 <p>As Bitcoin surges past $42,000, Bloomberg says this is the start of a fresh crypto supercycle that will push #Bitcoin above $500,000. The price of Bitcoin rose higher Monday to a 19-month peak above $42,000.</p>
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    <p lang="en" dir="ltr">JUST IN: Bloomberg says this is the start of a <a rel="noopener noreferrer nofollow" title="fresh" href="https://thebittimes.com/tag/fresh.html">fresh</a> <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> <a rel="noopener noreferrer nofollow" title="supercycle" href="https://thebittimes.com/tag/supercycle.html">supercycle</a> that will push #Bitcoin above $500,000.</p>— Watcher.Guru (@WatcherGuru) December 4, 2023
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 <p>The surge comes as investors grow hungry for <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> exposure, as well as improving macroeconomic trends. Bitcoin is coming off its third month of gains, adding another 11% so far in December 2023. Furthermore, its market cap breached $800 billion on Dec. 4. Hence, Bloomberg analysts <a rel="noopener noreferrer nofollow" title="predict" href="https://thebittimes.com/tag/predict.html">predict</a> that <a rel="noopener noreferrer nofollow" title="predict" href="https://thebittimes.com/tag/predict.html">predict</a>ions for BTC will grow much more bullish, and see extraordinary surges for most <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>, with Bitcoin at the forefront.</p>
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 <p>The speculation of Spot ETFs being approved in the coming months is fueling the hype for Bitcoin to reach $500,000. Experts anticipate that upon approval, with a Bitcoin Halving also scheduled for May 2024, Bitcoin will see one of its biggest surges toward triple digits. The current $40,000+ valuation of Bitcoin has not been seen since pre-pandemic.</p>
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 <p><strong>Also Read: Top 3 Cryptocurrencies Under $1 To Watch This Week</strong></p>
 <p>“Those kinds of comments show just how quickly sentiment can change for this asset class.” Matt Maley, chief market strategist at Miller Tabak &amp; Co says about Coinbase CEO Brian Armstrong’s recent comments on Bitcoin. He adds, “I would argue that one of the most important reasons Bitcoin rallied so strongly in 2020 and 2021 was because of the massive influx of liquidity into the system due to the pandemic.”</p>
 <p>At press time, Bitcoin is trading at $41,761.71.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bloomberg-predicts-fresh-crypto-supercycle-will-push-bitcoin-to-500-000-tbt72580.html">https://thebittimes.com/bloomberg-predicts-fresh-crypto-supercycle-will-push-bitcoin-to-500-000-tbt72580.html</a></p>

Bloomberg predicts fresh crypto supercycle will push Bitcoin to $500,000

TheBitTimes

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