Bitcoin News, Cryptocurrency Forecast

Bitcoin Price On The Track To $100k But When? – Things To Watch This Week.

Support for $60,000 Bitcoin (BTC) price encourages cautious investors and confirms demands for much higher highs – the only issue is when.

Bitcoin (BTC) begins a new week desperate to maintain support at $60,000, despite new all-time highs failing to hold. Bulls seized control after a traditional Sunday slump and have managed to hold BTC/USD over $60,000 lows.

Investors are curious to see where Bitcoin may go because neither the April nor the October all-time highs have been retested so far.

Expectations are still sky-high – as much as $300,000 in the following months, with the bull market continuing well into 2022.

When projecting BTC price behavior in the future days, there are some elements to consider.

Bitcoin Adoption & Inflation

Global markets are calm, with US stock futures remaining unchanged ahead of the open. Inflation continues to sting, and even the Federal Reserve of the United States acknowledges that it may stay higher for longer. A second issue involving the taxation of unrealized profits is causing a lot of discussion in the crypto community.

Beyond surging commodities, however, the picture is bleaker when it comes to Bitcoin price triggers since BTC/USD has long been decoupled from macro movements.

More attention is being devoted to gold — and traditional ETFs — and the danger that Bitcoin poses to them ahead of the debut of the third Bitcoin futures exchange-traded fund (ETF) on Monday.

“I don’t know what is a barometer for tremendous institutional interest if CME open interest leaping many places to number one internationally in a couple of days this week,” Charles Edwards, CEO of investment company Capriole, said last week.

Bitcoin Price On The Track To $100k But When? - Things To Watch This Week.

Edwards previously stated that futures-based ETFs will offer a “relentless spot bid” for Bitcoin, putting to rest worries about the instrument’s overall potency.

According to Ki Young Ju, CEO of on-chain analytics firm CryptoQuant, each challenge of $60,000 was followed by massive buy-ins.

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