The annual growth rate of bitcoin surpasses gold! As it approaches its all-time high, how far will the "volatile fluctuations" continue?
for the first time in six months $Bitcoin (BTC.CC)$The semiconductor manufacturing equipment related to technologies like lasers is strong, with a psychological improvement due to the recovery of NVIDIA's stock in the U.S.once again surpassed $73,000and came within a step of the all-time high of $73,793.68. Ethereum also crossed $2,600 in response to this increase.
Currently, the price of Bitcoin has been above $72,000, and so far,rising by over 13% in OctoberIt is noteworthy that gold has repeatedly reached record highs, but looking at this year's rate of increase, Bitcoin has exceeded 70%, far surpassing gold's 35% increase.
Currently, the price of Bitcoin has been above $72,000, and so far,rising by over 13% in OctoberIt is noteworthy that gold has repeatedly reached record highs, but looking at this year's rate of increase, Bitcoin has exceeded 70%, far surpassing gold's 35% increase.
Related stocks of cryptocurrencies in the USA are experiencing a rapid trend, $MicroStrategy (MSTR.US)$has risen nearly 60% in the past 20 days, with its stock price up more than triple this year. $TeraWulf (WULF.US)$、 $Riot Platforms (RIOT.US)$、 $Hut 8 (HUT.US)$、 $CleanSpark (CLSK.US)$etc. has risen over 40% in the past 20 days.
With just one week left until the US presidential election on November 5th, whoever wins the next US presidency will likely be positive for cryptocurrencies. The sharp rise in Bitcoin is widely recognized to be closely related to the US presidential election.
Since Mr. Trump clearly supports cryptocurrency, Bitcoin is considered a target for 'Trump trades', while Ms. Harris has publicly stated her support for a regulatory framework for the cryptocurrency industry, in contrast to the Biden administration cracking down on the cryptocurrency sector.
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What are the positive factors pushing up the price of Bitcoin?
In the short term, recentTrump trades and the Federal Reserve Board's monetary policies are two main 'catalysts'.is turning out to be.
James Butterfill, Research Director at CoinShares, stated in the report that the current price and flow of Bitcoin are heavily influenced by U.S. politics, with the recent surge in capital inflows potentially tied to changes in the Republican elections.
Bailey Group's Executive Managing Director, Mr. Eric Bailey, sees this week's Bitcoin price movement as evidence of the market's preference for Mr. Trump to win the election this year.
Jeff Kendrick, Global Head of Digital Asset Research at Standard Chartered, predicts that if Mr. Trump wins, Bitcoin could surpass $75,000 on election day, and if the Republican party gains control of Congress, it could reach a high of $125,000 by the end of the year.
Furthermore, the increasing risk sentiment due to policy shifts and liquidity easing by major central banks worldwide has been a tailwind for cryptocurrencies. However, despite the Fed's attention-grabbing rate cut in September, there are still quite a few people in the market who believe that concerns about inflation have not been completely dispelled. Of note, investors generally anticipate the risk of rising inflation in the USA post-election.
Also,Bitcoin is becoming mainstream as an asset allocation.Therefore,It is considered an inflation hedge asset alongside gold.Therefore, under this skeptical view, the price of Bitcoin, considered a safe asset, has risen, and it is not surprising that the price of gold, another major safe asset, hit an all-time high this month.
On the other hand,Bitcoin is supported by strong long-term demand.With the introduction of Bitcoin futures and spot ETFs, Bitcoin has become a mainstream allocation asset for custodians, and the allocation and holding of Bitcoin by financial institutions have been driving up the demand for Bitcoin.
According to documents submitted to the U.S. Securities and Exchange Commission (SEC), the tech giant $Microsoft (MSFT.US)$is also considering entering Bitcoin. The tech giant with a market capitalization of over 3 trillion dollars is planning to vote on the 'investment evaluation in Bitcoin' at the shareholder meeting on December 10th. If this proposal is approved, Microsoft will not only invest directly in Bitcoin but also lead other companies to follow suit, purchasing Bitcoin, leading to a substantial inflow of funds into the cryptocurrency market.
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How long will the 'roller coaster' ride last?
Currently,Traders are increasing their bets on call options.According to data, the exercise prices of call options expiring on November 8th are concentrated around $75,000, and the exercise prices of call options expiring on November 29th are concentrated around $80,000.
According to a new report by the founder of the cryptocurrency trading platform 'Derive.xyz', based on Bitcoin options data, the price of Bitcoin, which is traded as the world's largest cryptocurrency,There is a one-third chance of experiencing a fluctuation of more than 10% on the day of the US presidential election on November 5th.There.
On the other hand, according to the latest data compiled by the institution, due to a global fund purchasing a large amount of Bitcoin ETF in the US market on Tuesday, the net inflow to the 12 Bitcoin ETFs this year exceeded $23 billion. Noteworthy issuers of Bitcoin ETF include global custody giants like BlackRock Inc and Fidelity Investments.
Bitcoin could potentially reach $101,694 by the end of January 2025, as pointed out in a market analysis by 10x Research, as demand for the ETF is growing parabolically. Positioning DeFi as the future and an external alternative to traditional financial systems, the current market scenario is shifting towards 'digital gold,' with Bitcoin being viewed as a permanent long-term asset in the portfolios of institutional investors.
Currently, many institutions are presenting extraordinary price targets.Investment bank Bernstein predicts that the price of Bitcoin will reach $0.2 million by the end of 2025.and it is expected.
The Bernstein Report points out that by the end of this year, institutional investors on Wall Street are expected to become the top wallets of Bitcoin, replacing founder Satoshi Nakamoto. This is related to the great success of Bitcoin ETFs in the US stock market, consistently attracting inflows of funds from overseas since the beginning of the year, making it the hottest trading category within US stock ETFs this year.
Additionally, Bernstein Analytics' team predicts that if Mr. Trump wins the US presidential election on November 5th, there is a possibility that cryptocurrencies will reach a record high of approximately $80,000 to $90,000.
Matrixport has released a new report stating that Bitcoin has surpassed the $70,000 mark and achieved the year-end target set in early 2024. According to the latest Matrix on Target report, the Bitcoin priceis expected to continue rising by the end of the year.
The US presidential election could serve as a positive market catalyst, further boosting the Bitcoin price alongside strong demand from investors for the Bitcoin spot ETF. Going forward, there is a possibility that the Bitcoin price will gain further momentum towards the end of the year when more long investors disclose their positions in the Bitcoin spot ETF in the 13F filings.
The Co-founder and CEO of Unocoin mentioned that Bitcoin is somewhat cyclical, with historically strong growth seen towards the end of the year, suggesting a similar trend may repeat in 2024. Bitcoin has averaged 29.5% increase in October, 37.9% in November, and 12.3% in December, supporting optimistic predictions of Bitcoin surpassing $0.1 million.
With just one week left until the US presidential election on November 5th, whoever wins the next US presidency will likely be positive for cryptocurrencies. The sharp rise in Bitcoin is widely recognized to be closely related to the US presidential election.
Since Mr. Trump clearly supports cryptocurrency, Bitcoin is considered a target for 'Trump trades', while Ms. Harris has publicly stated her support for a regulatory framework for the cryptocurrency industry, in contrast to the Biden administration cracking down on the cryptocurrency sector.
In the short term, recentTrump trades and the Federal Reserve Board's monetary policies are two main 'catalysts'.is turning out to be.
James Butterfill, Research Director at CoinShares, stated in the report that the current price and flow of Bitcoin are heavily influenced by U.S. politics, with the recent surge in capital inflows potentially tied to changes in the Republican elections.
Bailey Group's Executive Managing Director, Mr. Eric Bailey, sees this week's Bitcoin price movement as evidence of the market's preference for Mr. Trump to win the election this year.
Jeff Kendrick, Global Head of Digital Asset Research at Standard Chartered, predicts that if Mr. Trump wins, Bitcoin could surpass $75,000 on election day, and if the Republican party gains control of Congress, it could reach a high of $125,000 by the end of the year.
Furthermore, the increasing risk sentiment due to policy shifts and liquidity easing by major central banks worldwide has been a tailwind for cryptocurrencies. However, despite the Fed's attention-grabbing rate cut in September, there are still quite a few people in the market who believe that concerns about inflation have not been completely dispelled. Of note, investors generally anticipate the risk of rising inflation in the USA post-election.
Also,Bitcoin is becoming mainstream as an asset allocation.Therefore,It is considered an inflation hedge asset alongside gold.Therefore, under this skeptical view, the price of Bitcoin, considered a safe asset, has risen, and it is not surprising that the price of gold, another major safe asset, hit an all-time high this month.
On the other hand,Bitcoin is supported by strong long-term demand.With the introduction of Bitcoin futures and spot ETFs, Bitcoin has become a mainstream allocation asset for custodians, and the allocation and holding of Bitcoin by financial institutions have been driving up the demand for Bitcoin.
According to documents submitted to the U.S. Securities and Exchange Commission (SEC), the tech giant $Microsoft (MSFT.US)$is also considering entering Bitcoin. The tech giant with a market capitalization of over 3 trillion dollars is planning to vote on the 'investment evaluation in Bitcoin' at the shareholder meeting on December 10th. If this proposal is approved, Microsoft will not only invest directly in Bitcoin but also lead other companies to follow suit, purchasing Bitcoin, leading to a substantial inflow of funds into the cryptocurrency market.
Currently,Traders are increasing their bets on call options.According to data, the exercise prices of call options expiring on November 8th are concentrated around $75,000, and the exercise prices of call options expiring on November 29th are concentrated around $80,000.
According to a new report by the founder of the cryptocurrency trading platform 'Derive.xyz', based on Bitcoin options data, the price of Bitcoin, which is traded as the world's largest cryptocurrency,There is a one-third chance of experiencing a fluctuation of more than 10% on the day of the US presidential election on November 5th.There.
On the other hand, according to the latest data compiled by the institution, due to a global fund purchasing a large amount of Bitcoin ETF in the US market on Tuesday, the net inflow to the 12 Bitcoin ETFs this year exceeded $23 billion. Noteworthy issuers of Bitcoin ETF include global custody giants like BlackRock Inc and Fidelity Investments.
Bitcoin could potentially reach $101,694 by the end of January 2025, as pointed out in a market analysis by 10x Research, as demand for the ETF is growing parabolically. Positioning DeFi as the future and an external alternative to traditional financial systems, the current market scenario is shifting towards 'digital gold,' with Bitcoin being viewed as a permanent long-term asset in the portfolios of institutional investors.
Currently, many institutions are presenting extraordinary price targets.Investment bank Bernstein predicts that the price of Bitcoin will reach $0.2 million by the end of 2025.and it is expected.
The Bernstein Report points out that by the end of this year, institutional investors on Wall Street are expected to become the top wallets of Bitcoin, replacing founder Satoshi Nakamoto. This is related to the great success of Bitcoin ETFs in the US stock market, consistently attracting inflows of funds from overseas since the beginning of the year, making it the hottest trading category within US stock ETFs this year.
Additionally, Bernstein Analytics' team predicts that if Mr. Trump wins the US presidential election on November 5th, there is a possibility that cryptocurrencies will reach a record high of approximately $80,000 to $90,000.
Matrixport has released a new report stating that Bitcoin has surpassed the $70,000 mark and achieved the year-end target set in early 2024. According to the latest Matrix on Target report, the Bitcoin priceis expected to continue rising by the end of the year.
The US presidential election could serve as a positive market catalyst, further boosting the Bitcoin price alongside strong demand from investors for the Bitcoin spot ETF. Going forward, there is a possibility that the Bitcoin price will gain further momentum towards the end of the year when more long investors disclose their positions in the Bitcoin spot ETF in the 13F filings.
The Co-founder and CEO of Unocoin mentioned that Bitcoin is somewhat cyclical, with historically strong growth seen towards the end of the year, suggesting a similar trend may repeat in 2024. Bitcoin has averaged 29.5% increase in October, 37.9% in November, and 12.3% in December, supporting optimistic predictions of Bitcoin surpassing $0.1 million.
However, there are potential obstacles in the future of bitcoin. Matt Hogan, Chief Investment Officer (CIO) of Bitwise Asset Management, stated that the worst outcome for cryptocurrencies would be if the direction of laws and regulations regarding crypto remains unclear, leading to potential confusion depending on election results.
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Source: Bloomberg, moomoo
This article uses automatic translation in part.
Source: Bloomberg, moomoo
This article uses automatic translation in part.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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ヘカトンケイル : When I checked it just now, it's dropping at an amazing speed. 🫨