Bitcoin Expected to Reach $75,000
Skip to content
AZC.News
en EN
BTC Coin BTC
-1.32%
ETH Coin ETH
-0.66%
USDT Coin USDT
0.00%
BNB Coin BNB
0.91%
SOL Coin SOL
-10.11%
XRP Coin XRP
-6.69%
USDC Coin USDC
0.03%
ADA Coin ADA
-5.50%
DOGE Coin DOGE
-9.10%
SHIB Coin SHIB
-6.73%
BTC Coin BTC
-1.32%
ETH Coin ETH
-0.66%
USDT Coin USDT
0.00%
BNB Coin BNB
0.91%
SOL Coin SOL
-10.11%
XRP Coin XRP
-6.69%
USDC Coin USDC
0.03%
ADA Coin ADA
-5.50%
DOGE Coin DOGE
-9.10%
SHIB Coin SHIB
-6.73%
Search...
Home > News > Editor Choice
Published: 06/03/2024
-
Author: Raymond
Bitcoin Expected to Reach $75,000
Bitcoin soared by as much as 6.8% to reach a session high of $67,645, bouncing back from a 6% decline on Tuesday
Btc 75k$
Bitcoin experienced another rally on Wednesday in volatile trading, while ether surged nearly 10%, continuing the ongoing crypto frenzy within the investment community.
Bitcoin soared by as much as 6.8% to reach a session high of $67,645, bouncing back from a 6% decline on Tuesday after hitting a previous record high above $69,000. It was last trading up 5.7% at $66,896.
Screenshot_1
Meanwhile, ether surged by 9.8% to its highest level since January 2022, reaching $3,827 and marking an 8.6% increase.
Bitcoin has already seen a 55% surge since the beginning of the year, driven by investors pouring funds into U.S. spot exchange-traded crypto products and the anticipation of potential global interest rate decreases.
Lennix Lai, global chief commercial officer at OKX crypto exchange, noted that the market is receiving additional support from the outlook, which includes an upcoming ethereum upgrade and the bitcoin “halving” that slows the minting of new bitcoins.
The approval of 11 spot bitcoin ETFs by the U.S. Securities and Exchange Commission in late January marked a significant turning point for the industry, following an 18-month-long crypto winter marked by several high-profile corporate bankruptcies and scandals.
Even institutional investors, who previously avoided crypto due to its volatility, have started committing long-term investments, potentially bolstering the current rally, according to experts.
The optimism surrounding bitcoin has spilled over to other digital tokens, notably ether, which has surged by over 60% since the beginning of the year.
However, some analysts caution about the speculative nature of these assets. After reaching a record high on Tuesday, bitcoin sharply reversed course, dropping more than 10% below the $60,000 level.
Matt Simpson, senior market analyst at City Index, described this as “classic bitcoin behavior,” suggesting that the market might be entering a volatile and erratic phase typically seen after reaching record highs.
Deutsche Bank strategist Jim Reid pointed out that bitcoin is still some distance away from its all-time high in real terms adjusted for inflation.
“Consumer prices have risen by over 10% since the previous peak in November 2021, so in real terms, that would be above $75,000 in today’s prices,” Reid said.
Read Less
#Bitcoin
0.0/5
Love
Leave a Reply
Your email address will not be published. Required fields are marked *
Comment *
Twitter
Telegram
Name
Save my name, email, and website in this browser for the next time I comment.
LATEST
Azcnews Breaking
Airdrops | Altcoin | News 06/03/2024
Guide to Join SYNTHR Testnet
The cross-chain platform, SYNTHR, is currently launching a testnet participation program to earn points. You can join to experience and earn points for a chance to receive an Airdrop later. Read more details here!
Azcnews Breaking
News | Altcoin | Editor Choice 06/03/2024
Frax Finance (FXS) Launches Mainnet Layer-2 Fraxtal
After one month of deploying layer-2 for certain specific partners, Frax Finance has opened the mainnet layer-2 Fraxtal to ordinary users.
Azcnews (2)
News | Editor Choice | NFT 06/03/2024
Coachella Partners with Opensea to Launch Exclusive NFTs
Coachella partners with OpenSea to introduce NFT collections for the 2024 festival, offering exclusive access and merchandise.
Azcnews (1)
News | Altcoin | Editor Choice | Policy & Regulations 06/03/2024
Arbitrum DEX Fell Victim to Hacks
The WOOFi exchange running on Arbitrum faced an increase in malicious activities following a recent flash loan exploit.
Azcnews
News | Bitcoin | Editor Choice 06/03/2024
Capital Inflows into Bitcoin ETF Skyrocketed
Bitcoin ETF: BlackRock and Fidelity recorded a staggering $900 million in inflows on March 5, amid market volatility.
Top views
1
Memecoins Have Been Leading The Market For Several Days
2
Blast Releases Mainnet, Expected Airdrop Redemption Schedule
3
OKX to List QnA3.AI’s GPT Token on its Spot Market
4
What is Axelar Network? Information about Token AXL?
5
Bitcoin Market Shows Over 20% Gap in Supply and Demand Dynamics
6
SynFutures Launches V3 on Layer-2 Blast
7
Bitcoin Surges to $65,000 as Tether Unleashes 1 Billion USDT
8
Cryptocurrency Exchanges in Korea Surge Amidst Bitcoin Rally
9
What is Portal? Information about PORTAL Token?
10
Taiko Raises an Additional $15 Million in Series A Round
About AZC.NewsSkip to content
AZC.News
en EN
BTC Coin BTC
-1.32%
ETH Coin ETH
-0.66%
USDT Coin USDT
0.00%
BNB Coin BNB
0.91%
SOL Coin SOL
-10.11%
XRP Coin XRP
-6.69%
USDC Coin USDC
0.03%
ADA Coin ADA
-5.50%
DOGE Coin DOGE
-9.10%
SHIB Coin SHIB
-6.73%
BTC Coin BTC
-1.32%
ETH Coin ETH
-0.66%
USDT Coin USDT
0.00%
BNB Coin BNB
0.91%
SOL Coin SOL
-10.11%
XRP Coin XRP
-6.69%
USDC Coin USDC
0.03%
ADA Coin ADA
-5.50%
DOGE Coin DOGE
-9.10%
SHIB Coin SHIB
-6.73%
Search...
Home > News > Editor Choice
Published: 06/03/2024
-
Author: Raymond
Bitcoin Expected to Reach $75,000
Bitcoin soared by as much as 6.8% to reach a session high of $67,645, bouncing back from a 6% decline on Tuesday
Btc 75k$
Bitcoin experienced another rally on Wednesday in volatile trading, while ether surged nearly 10%, continuing the ongoing crypto frenzy within the investment community.
Bitcoin soared by as much as 6.8% to reach a session high of $67,645, bouncing back from a 6% decline on Tuesday after hitting a previous record high above $69,000. It was last trading up 5.7% at $66,896.
Screenshot_1
Meanwhile, ether surged by 9.8% to its highest level since January 2022, reaching $3,827 and marking an 8.6% increase.
Bitcoin has already seen a 55% surge since the beginning of the year, driven by investors pouring funds into U.S. spot exchange-traded crypto products and the anticipation of potential global interest rate decreases.
Lennix Lai, global chief commercial officer at OKX crypto exchange, noted that the market is receiving additional support from the outlook, which includes an upcoming ethereum upgrade and the bitcoin “halving” that slows the minting of new bitcoins.
The approval of 11 spot bitcoin ETFs by the U.S. Securities and Exchange Commission in late January marked a significant turning point for the industry, following an 18-month-long crypto winter marked by several high-profile corporate bankruptcies and scandals.
Even institutional investors, who previously avoided crypto due to its volatility, have started committing long-term investments, potentially bolstering the current rally, according to experts.
The optimism surrounding bitcoin has spilled over to other digital tokens, notably ether, which has surged by over 60% since the beginning of the year.
However, some analysts caution about the speculative nature of these assets. After reaching a record high on Tuesday, bitcoin sharply reversed course, dropping more than 10% below the $60,000 level.
Matt Simpson, senior market analyst at City Index, described this as “classic bitcoin behavior,” suggesting that the market might be entering a volatile and erratic phase typically seen after reaching record highs.
Deutsche Bank strategist Jim Reid pointed out that bitcoin is still some distance away from its all-time high in real terms adjusted for inflation.
“Consumer prices have risen by over 10% since the previous peak in November 2021, so in real terms, that would be above $75,000 in today’s prices,” Reid said.
Read Less
#Bitcoin
0.0/5
Love
Leave a Reply
Your email address will not be published. Required fields are marked *
Comment *
Twitter
Telegram
Name
Save my name, email, and website in this browser for the next time I comment.
LATEST
Azcnews Breaking
Airdrops | Altcoin | News 06/03/2024
Guide to Join SYNTHR Testnet
The cross-chain platform, SYNTHR, is currently launching a testnet participation program to earn points. You can join to experience and earn points for a chance to receive an Airdrop later. Read more details here!
Azcnews Breaking
News | Altcoin | Editor Choice 06/03/2024
Frax Finance (FXS) Launches Mainnet Layer-2 Fraxtal
After one month of deploying layer-2 for certain specific partners, Frax Finance has opened the mainnet layer-2 Fraxtal to ordinary users.
Azcnews (2)
News | Editor Choice | NFT 06/03/2024
Coachella Partners with Opensea to Launch Exclusive NFTs
Coachella partners with OpenSea to introduce NFT collections for the 2024 festival, offering exclusive access and merchandise.
Azcnews (1)
News | Altcoin | Editor Choice | Policy & Regulations 06/03/2024
Arbitrum DEX Fell Victim to Hacks
The WOOFi exchange running on Arbitrum faced an increase in malicious activities following a recent flash loan exploit.
Azcnews
News | Bitcoin | Editor Choice 06/03/2024
Capital Inflows into Bitcoin ETF Skyrocketed
Bitcoin ETF: BlackRock and Fidelity recorded a staggering $900 million in inflows on March 5, amid market volatility.
Top views
1
Memecoins Have Been Leading The Market For Several Days
2
Blast Releases Mainnet, Expected Airdrop Redemption Schedule
3
OKX to List QnA3.AI’s GPT Token on its Spot Market
4
What is Axelar Network? Information about Token AXL?
5
Bitcoin Market Shows Over 20% Gap in Supply and Demand Dynamics
6
SynFutures Launches V3 on Layer-2 Blast
7
Bitcoin Surges to $65,000 as Tether Unleashes 1 Billion USDT
8
Cryptocurrency Exchanges in Korea Surge Amidst Bitcoin Rally
9
What is Portal? Information about PORTAL Token?
10
Taiko Raises an Additional $15 Million in Series A Round
About AZC.News
About Us
Contact Us
Privacy Policy
Terms of Services
Market
Analytics
Top Crypto Exchange
Top Cryptocurrency
Knowledge
Research
Glossary
Earn
Airdrop
Social Community
Copyright 2024 © AZ Coiner
About Us
Contact Us
Privacy Policy
Terms of Services
Market
Analytics
Top Crypto Exchange
Top Cryptocurrency
Knowledge
Research
Glossary
Earn
Airdrop
Social Community
