Quotes of the first cryptocurrency will exceed the $1 million level in the coming years. This opinion was expressed by JAN3 CEO Samson Moe on Peter McCormack’s What Bitcoin Did podcast.
“I think we will reach $1 million this year. If not this year, then next year, but it will happen very soon,” he said.
The expert explained such an optimistic forecast by a combination of high demand in anticipation of a reduction in the supply of digital gold during the halving. Moe cited this event as a key factor.
He also pointed to large capital inflows into spot Bitcoin ETFs. According to CEO JAN3, higher prices for the first cryptocurrency will lead to an increase in demand for it due to Veblen effect.
On Wednesday, March 13, digital gold exceeded $73,000, after which a correction began. On the night of March 17, Bitcoin fell below $65,000. At the time of writing, the first cryptocurrency is trading at $65,350.
BTC/USDT hourly chart of the Binance exchange. Data: TradingView.
Total digital asset market capitalization falls below $2.6 trillion, according to CoinGecko.
According to Coinglassover the last 24 hours the volume of liquidations reached $620 million. Of this, $532 million were long positions.
Liquidation map. Data: Coinglass.
Let us recall that in December 2023, Mou predicted that the price of the first cryptocurrency would rise to $1 million after the SEC approved the first spot Bitcoin ETF in the United States.
In January 2024, ARK Invest CEO Cathie Wood predicted Bitcoin at $1.5 million by 2030. She cited the flow of institutional funds into exchange-traded funds as the reason for the possible growth of the asset.
Subscribe to ForkLog on social networks
Found an error in the text? Select it and press CTRL+ENTER
ForkLog newsletters: keep your finger on the pulse of the Bitcoin industry!
2024-03-17 08:30:58
#Bitcoin #reach #million #ForkLog
