2024

Bitcoin

Optimism

Spot

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-price-soars-as-investors-usher-in-2024-with-optimism" rel="noopener noreferrer nofollow">Bitcoin Price Soars as Investors Usher in 2024 with Optimism</a><br></p>
<p style="text-align: justify">The year 2024 has kicked off with a remarkable upswing in <a href="https://en.bitcoinhaber.net/bitcoins-price-plunge-and-crypto-market-turbulence" rel="noopener noreferrer nofollow">Bitcoin</a>‘s value, reaching record highs prior to its anticipated halving event, which historically tends to push <a href="https://en.bitcoinhaber.net/crypto-hedge-funds-rally-a-resilient-recovery-in-the-making" rel="noopener noreferrer nofollow">cryptocurrency</a> prices upward. This increase has set the stage for higher peaks and has incited considerable rallies across various altcoin markets as well. The big question now is what lies ahead for the cryptocurrency prices according to the latest data.</p>
<h2 id="is-bitcoin-a-hedge-against-inflation">Is Bitcoin a Hedge Against Inflation?</h2>
<p style="text-align: justify">Recent claims suggest Bitcoin is emerging as a protective asset against US inflation, which touched a rate of 3.2%. Despite these suggestions, it’s difficult to draw a solid conclusion as both US stock markets and other assets like gold, which also recorded an all-time high, made gains during the same timeframe.</p>
<p style="text-align: justify">With the ongoing fight against inflation likely to prolong the Federal Reserve’s stringent monetary policies, there is a possibility of increased pressure on risk-prone markets. Interestingly, the once 80% predicted interest rate decrease in March has now plummeted close to zero, diminishing hopes for future Federal Reserve meetings.</p>
<h2 id="what-could-propel-bitcoin-to-80-000">What Could Propel Bitcoin to $80,000?</h2>
<p style="text-align: justify">From a macroeconomic standpoint, the adoption of Spot Bitcoin ETFs by investment funds and asset managers, previously hindered by access issues, could be key to a sustained increase in Bitcoin’s value. Now, with the adoption of ETFs, Bitcoin’s role as a store of value is strengthened.</p>
<p style="text-align: justify">Furthermore, regulatory confusion around Bitcoin’s classification has settled, creating a more favorable environment. In the recent two weeks, Spot Bitcoin ETFs drew in an astounding $5 billion in capital, signaling a growing institutional interest. Nonetheless, concerns arise from the high leverage in futures trading.</p>
<p style="text-align: justify">Record-breaking interest in Bitcoin futures, with open interest peaking at $35 billion on March 13th, suggests market optimism. Whale and market maker activities on <a href="https://en.bitcoinhaber.net/binance-resumes-trading-for-the-euro-based-stablecoin-aeur-after-unusual-price-movements" rel="noopener noreferrer nofollow">Binance</a> and OKX show increased long positions. While risks of sharp downturns due to large liquidations loom, the potential for Bitcoin to momentarily hit the $80,000 mark is within sight, though achieving lasting growth will require more than short-term demand.</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-soars-as-investors-usher-in-2024-with-optimism" rel="noopener noreferrer nofollow">Bitcoin Price Soars as Investors Usher in 2024 with Optimism</a></h5>

Bitcoin Price Soars as Investors Usher in 2024 with Optimism

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