- The End of Major Suppressive Sell Pressures
- Bitcoin’s Newly Minted Standing as a Legitimate Financial Asset
- Bitcoin Price Forecast for 2024 and Beyond
Over the years, October has become known as a month for Bitcoin price rallies. We explore current market factors and future predictions.
The End of Major Suppressive Sell Pressures
In recent months, approximately 959k BTC transitioned into long-term holder positions, strengthening the market. Currently, 94.1% of the Bitcoin supply is available. Moreover, Bitcoin's inflation rate is 0.84% after the fourth halving of miner rewards, lower than the Federal Reserve's inflation target of 2%.
Bitcoin’s Newly Minted Standing as a Legitimate Financial Asset
The year 2024 marks a significant milestone for Bitcoin's legitimacy. BlackRock CEO Larry Fink, who previously labeled Bitcoin as an index of money laundering, now views it as an asset class that offers protection. Bitcoin-focused funds accumulated nearly $60 billion in capital in 2024.
Bitcoin Price Forecast for 2024 and Beyond
Historically, Bitcoin reaches new all-time highs within 12-18 months after a halving event. Expert forecasts suggest a price range of $90,000 to $100,000 by the end of the year. Long-term projections up to 2050 even suggest a price of $2.9 million per BTC.
Based on current analysis and long-term trends, the Bitcoin price outlook for the coming years appears very promising.
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