Bitcoin
Is a $500K Bitcoin Rally Possible? Cryptocurrency ETFs to Consider
Since gaining approval for spot ETFs in early January, Bitcoin has been somewhat volatile, a trend that may concern some investors. The cryptocurrency surged 70% following approval, initially experiencing dramatic gains but then lost steam in mid-March, falling 14% since then.
However, despite recent volatility, Bitcoin’s outlook remains encouraging in both the short and long term.
Encouraging signs from historical patterns
According to Motley Fool, the digital asset is mirroring a historical pattern spanning four years, where it goes through a downtrend initially, followed by an uptrend in the final year. After witnessing a bear market, followed by a recovery in the second year and continued progress in the third, the cryptocurrency goes through the halving process, after which a cyclical peak is reached.
If we follow the pattern, Bitcoin has experienced a bear market in 2022, currently putting us in the third year with the halving taking place in April. While past performance is no guarantee of future outcome, we can speculate and leverage Bitcoin’s historical performance to gain insights into what 2025, the fourth year, may bring.
Using Past Patterns to Predict Bitcoin Price
In the third year, when the halving occurs, according to the Motley Fool, Bitcoin rises 125% on average, which puts the digital asset at a price point of $100,000 by the end of 2024, up from a starting price of $44,000 in 2024.
According to past trends, the digital asset increases dramatically by 400% on average in the year following a halving. If the trend repeats and Bitcoin ends this year in line with historical averages, its price could potentially reach around $500,000 by 2025.
Favorable changes in the supply and demand dynamics of digital currency increase the likelihood of price projections coming true.
Incoming avalanche
According to Coindesk, July has historically been a bullish month for the digital asset, with ETFs witnessing around $130 million in inflows on the first day of July. Over the past decade, Bitcoin has averaged over 11% gains in July, with 7 out of 10 months showing positive returns, according to the data.
With the cryptocurrency’s supply having reduced by 50% since its halving in April, we could see an increase in inflows into spot Bitcoin ETFs in the coming months.
Fed cuts rates to boost prices
If the Fed cuts rates in late 2024, investors may see Bitcoin as an alternative to the depreciating dollar, which moves inversely with the Fed’s interest rate adjustments. The increasing likelihood of the Fed cutting interest rates later this year, coupled with de-dollarization, tends to create opportunities in digital currencies.
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Furthermore, any Fed rate cut would boost risk sentiments, which in turn would help Bitcoin prices.
ETFs to consider
Below, we have mentioned a few ETFs for investors to increase their portfolio exposure to Bitcoin and capitalize on its long-term uptrend.
Registered iShares Bitcoin Trust IBIT increased 12.56% in the last month and 8.67% in the last three months.
Grayscale Bitcoin Background GBTC has gained 14.03% in the past month and 8.41% in the past three months.
Fidelity Wise Origin Bitcoin Fund FBTC has gained 12.98% in the last month and 8.64% in the last three months.
ARK 21Shares Bitcoin ETF ARKB has gained 12.55% in the last month and 8.67% in the last three months.
Bitwise Bitcoin ETF Investment Fund BITB has gained 12.56% in the last month and 8.70% in the last three months.
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Grayscale Bitcoin Trust ETF (GBTC): ETF Research Reports
iShares Bitcoin Trust (IBIT): ETF Research Reports
Fidelity Wise Origin Bitcoin Fund (FBTC): ETF Research Reports
ARK 21Shares Bitcoin ETF (ARKB): ETF Research Reports
Bitwise Bitcoin ETF (BITB): ETF Research Reports
Bitcoin
Big Tech Outperforms Bitcoin (BTC) as Trump Deal Weakens Token
Bitcoin has lost out on an asset rally fueled by positive comments from the Federal Reserve, while a tight US election race casts doubt on whether Donald Trump will get the chance to implement his pro-crypto agenda.
The digital asset fell 2.4% on Wednesday, following a Fed-fueled surge in an index of megacap tech stocks Magnificent Seven by one of the largest margins in 2024. The token retreated further on Thursday, changing hands at $63,750 as of 6:10 a.m. in London.
Bitcoin
‘This is huge’ — Billionaire Mark Cuban issues ‘incredible’ Bitcoin and crypto prediction amid price slump
Bitcoin
Bitcoin
came back with a vengeance this year when former President Donald Trump Cryptocurrency boosts US presidential election in November with ‘revolutionary’ plan.
The price of bitcoin has surged to more than its all-time high in recent months, surpassing $70,000 per bitcoin and triggering a wave of mega-optimistic predictions about the price of bitcointhough it fell again this week, falling below $65,000 after the Federal Reserve kept interest rates steady.
Now, as Elon Musk suddenly breaks his silence on bitcoin and cryptocurrenciesBillionaire investor Mark Cuban called a California plan to digitize 42 million car titles using blockchain an “incredible step forward” and “huge” for cryptocurrencies.
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Mark Cuban, famous Shark Tank investor and billionaire owner of the NBA team Dallas Mavericks, has… [+] called a cryptocurrency update “amazing” amid bitcoin’s price slump.
Getty Images
The California Department of Motor Vehicles (DMV) has digitized 42 million car titles using blockchain, it was reported by Reuters, through technology company Oxhead Alpha on the Avalanche blockchain and designed to detect fraud and facilitate the securities transfer process.
“This is an incredible development for crypto,” Cuban, best known as an investor on TV’s Shark Tank and owner of the Dallas Mavericks NBA team, posted on X, joking that U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler could sue the state as part of his hostility toward cryptocurrencies and blockchain technology.
“The reason this is huge for crypto is because people who hold the tokens will have an app with an Avalanche wallet,” Cuban said. “Tens of millions of Californians having and using a crypto wallet in the next five years, or however long it takes, normalizes the use of wallets and crypto.”
John Wu, president of Avalanche developer Ava Labs, told Reuters that California’s DMV is “creating a wallet that you can download on your phone.”
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Bitcoin’s price has rallied this year, triggering a wave of bullish bitcoin price predictions from… [+] people like billionaire Mark Cuban.
Forbes Digital Assets
Last month, Cuban predicted that if the US dollar falls as the global reserve currency, bitcoin could become “a global ‘safe haven’” and a “global currency.” potentially sending the price of bitcoin to a much higher level.
According to Cuban, bitcoin could become what its most ardent supporters “envision” — a means “of protecting our economies… This is already happening in countries facing hyperinflation.”
The price of bitcoin has skyrocketed over the past year, largely due to the world’s largest asset manager, BlackRock, leading a bitcoin attack on Wall Street.
Bitcoin
Bitcoin (BTC) miner Riot Platforms (RIOT)’s second-quarter loss widens to $84.4 million as costs rise
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Bitcoin
Why Trump Wants the US Government to Have a “National Stockpile” of Bitcoin
At a national bitcoin conference in Nashville, Donald Trump finally laid out some of his crypto policy proposals, including a long-awaited part of his plan — building a strategic bitcoin reserve. CNN’s Jon Sarlin explains what it is and why the crypto industry wants it.
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