The road to wealth with cryptocurrencies After a brief fluc...
The road to wealth with cryptocurrencies
After a brief fluctuation this morning, the price of bitcoin continues to climb. At the time of writing, it has surpassed $64,600, just one step away from the record of $0.065 million set in mid-August. With the market seemingly stimulated by the Federal Reserve's interest rate cuts, well-known analyst Titan of Crypto expressed a bullish outlook on X platform over the weekend, suggesting that the price of bitcoin could rise by about 35% by the end of this year, with a midterm target set at $85,000. He also added: 'Historical data shows that when September closes in the green, the fourth quarter typically shows a strong upward trend. If bitcoin can close above $59,000 this month, a bull market can be expected by the end of the year.'
In addition to the price trend of bitcoin, senior analyst and founder of Factor Trading, Peter Brandt, who successfully predicted the sharp decline of bitcoin in 2018, also holds a very bullish attitude towards the ratio of bitcoin to gold. He posted on X platform, stating that based on the technical analysis of the Inverse Head and Shoulders pattern (IH&S), the bitcoin to gold ratio is expected to increase by over 400% in 2025. He predicts that the price of 1 BTC may reach 123 troy ounces of gold as early as 2025, achieving over four times the increase compared to 24 troy ounces on September 22, 2024.
After a brief fluctuation this morning, the price of bitcoin continues to climb. At the time of writing, it has surpassed $64,600, just one step away from the record of $0.065 million set in mid-August. With the market seemingly stimulated by the Federal Reserve's interest rate cuts, well-known analyst Titan of Crypto expressed a bullish outlook on X platform over the weekend, suggesting that the price of bitcoin could rise by about 35% by the end of this year, with a midterm target set at $85,000. He also added: 'Historical data shows that when September closes in the green, the fourth quarter typically shows a strong upward trend. If bitcoin can close above $59,000 this month, a bull market can be expected by the end of the year.'
In addition to the price trend of bitcoin, senior analyst and founder of Factor Trading, Peter Brandt, who successfully predicted the sharp decline of bitcoin in 2018, also holds a very bullish attitude towards the ratio of bitcoin to gold. He posted on X platform, stating that based on the technical analysis of the Inverse Head and Shoulders pattern (IH&S), the bitcoin to gold ratio is expected to increase by over 400% in 2025. He predicts that the price of 1 BTC may reach 123 troy ounces of gold as early as 2025, achieving over four times the increase compared to 24 troy ounces on September 22, 2024.
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