2024

Bitcoin

Higher

<ul> 
 <li aria-level="1">After a slight dip, Bitcoin’s price recovered to near $99,000, indicating ongoing volatility and investor interest.</li> 
 <li aria-level="1">Robert Kiyosaki predicts Bitcoin could reach $500,000 by 2025, based on artificial intelligence-generated forecasts.</li> 
</ul> 
Peter Brandt, a seasoned commodities trader active since the 1970s, recently challenged the widespread belief on X social media that Bitcoin’s price will cap at $100,000. 
Brandt, known for his contrarian approaches, suggests that Bitcoin could exceed this price, critiquing the common market sentiment which he refers to as “conventional wisdom.” 
Brandt’s <a href="https://www.ethnews.com/gold-or-bitcoin-peter-brandt-and-peter-schiff-clash-over-which-is-the-better-investment/">perspective comes</a> at a time when Bitcoin’s price fluctuations continue to captivate the market. After a minor retreat to $95,860 from the $95,500 range, Bitcoin witnessed a 3.2% recovery, pushing it close to $99,000 again.&nbsp; 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Conventional Wisdom This is a condition in which there is a widely held belief by the market participants (example: Bitcoin will stop at $100,000). When conventional wisdom really becomes entrenched, I do the opposite. Conventional wisdom is usually wrong. 
 — Peter Brandt (@PeterLBrandt) <a href="https://twitter.com/PeterLBrandt/status/1861023026533552428?ref_src=twsrc%5Etfw">November 25, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Despite these swings, Bitcoin’s price has slightly declined by 1.65%, currently valued around $97,215. This pattern underscores the volatile nature of cryptocurrency markets and the challenge in forecasting precise movements. 
Adding to the discourse, Robert Kiyosaki, predicts a meteoric rise in Bitcoin’s value. Kiyosaki suggests that by 2025, Bitcoin could reach as high as $500,000, citing predictions made by artificial intelligence technologies, though he does not specify which AI was used for these forecasts. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Q: what is price of Bitcoin in 2025? 
 A: $500,000 according to AI 
 My apologies for no date in previous (X) 
 — Robert Kiyosaki (@theRealKiyosaki) <a href="https://twitter.com/theRealKiyosaki/status/1860875958409904376?ref_src=twsrc%5Etfw">November 25, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Kiyosaki’s bullish outlook isn’t just for the short term. He aligns with Michael Saylor’s <a href="https://www.ethnews.com/how-michael-saylors-bitcoin-bet-is-making-microstrategy-a-wall-street-phenomenon/https://www.ethnews.com/how-michael-saylors-bitcoin-bet-is-making-microstrategy-a-wall-street-phenomenon/">vision</a> of Bitcoin’s long-term potential, suggesting that Bitcoin could be valued at $13 million per coin within a decade. 
<figure id="attachment_107895" aria-describedby="caption-attachment-107895" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-full wp-image-107895" src="https://www.ethnews.com/wp-content/uploads/2024/11/BTCUSD_2024-11-25_17-44-24.png" alt="BTCUSD_2024-11-25_17-44-24" width="1675" height="929">
 <figcaption id="caption-attachment-107895" class="wp-caption-text">
 Source: Tradingview
 </figcaption>
</figure> 
This optimistic projection aligns with Kiyosaki’s strategy of heavily investing in Bitcoin, though he notes he will cease purchasing once it hits the $100,000 mark. 
These insights from high-profile financial personalities highlight a significant sentiment in the investment community, where enthusiasm for Bitcoin’s potential continues to grow despite its inherent market risks.&nbsp; 
Both Brandt and <a href="https://www.ethnews.com/robert-kiyosaki-shares-his-bitcoin-holdings-and-market-predictions/">Kiyosaki’s views</a> reflect a broader trend of leveraging cryptocurrency as a fundamental component of modern investment portfolios, suggesting a shift towards more mainstream acceptance of cryptocurrencies as viable investment assets. 

<div class="cryptoboxes" id="mcw-12344" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-chartcoin="BTC" data-chartcurrency="USD" data-chartrate="1.000268" data-charttype="chart" data-chartview="day" data-charttheme="light" data-chartsmooth="true" data-chartareacolor="" data-chartbgcolor=""></div>
</div> 
Bitcoin (BTC) is currently priced at $93,837 USD, reflecting a daily decline of 4.25%. Over the past week, Bitcoin has still managed to gain 4.67%, and on a monthly basis, it has increased by 41.28%, continuing its strong upward momentum despite short-term pullbacks. Year-to-date, BTC has surged by 122.58%, demonstrating robust investor confidence and adoption. 
RSI (Relative Strength Index): 
<figure id="attachment_107915" aria-describedby="caption-attachment-107915" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-full wp-image-107915" src="https://www.ethnews.com/wp-content/uploads/2024/11/BTCUSDT_2024-11-25_18-03-42.png" alt="BTCUSDT_2024-11-25_18-03-42" width="1736" height="744">
 <figcaption id="caption-attachment-107915" class="wp-caption-text">
 Source: Tradingview
 </figcaption>
</figure> 
The current RSI for Bitcoin indicates a neutral to slightly overbought level, signaling that while the bullish trend remains intact, the recent decline reflects a cooling period. This pullback could pave the way for healthier growth, or further corrections if sellers dominate. 
Key Technical Levels: 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Resistance: The psychological milestone of $100,000 USD remains a critical barrier, as BTC recently peaked near this level.</li> 
 <li style="font-weight: 400;" aria-level="1">Support: Immediate support lies around $90,000 USD, which could act as a stabilizing zone in case of further downward pressure.</li> 
</ul> 
The post <a href="https://www.ethnews.com/peter-brandt-challenges-the-common-belief-that-bitcoin-will-cap-at-100000-suggesting-potential-for-higher-values/">Peter Brandt Challenges The Common Belief That Bitcoin Will Cap At $100,000, Suggesting Potential For Higher Values</a> appeared first on <a href="https://www.ethnews.com">ETHNews</a>.

Peter Brandt Challenges The Common Belief That Bitcoin Will Cap At $100,000, Suggesting Potential For Higher Values

ETHNews

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