Bitcoin (BTC) leaves the Wall Street market guessing.
BTC price soars to highs of $ 58,000 in February
Data from Cointelegraph Markets Pro and TradingView show BTC / USD is down $ 57,000 after hitting $ 57,450 on Bitstamp – its best level since May 10.
With this, Bitcoin completely eliminated the effects of the Chinese mining crash and the subsequent redistribution of hash rates around the world.
– Rekt Capital (@rektcapital) October 11, 2021
In the midst of the analysts’ celebratory mood, predictions often focus on reaching the six-figure top sooner rather than later.
“All data science models suggest that BTC will peak well over $ 100,000 this cycle,” added trader and analyst Rekt Capital on the day.
Even at current prices, the lifespan of BTC / USD is just over 38 days, said Morgan Creek Digital co-founder Anthony Pompliano Note.
The Bitcoin supply crisis is becoming mainstream
This could be helped by a unique macro environment that further adds to the appeal of Bitcoin as an investment with a limited supply, Bloomberg said.
Related: BTC Price Hits $ 57,000 In 5 Months – 5 Things To See In BTC This Week
In his frequent tweets about bullish Bitcoin, Mike McGlone, chief commodities strategist at Bloomberg Intelligence, highlighted the impending uncertainty for US fiscal policy.
“In terms of soaring US debt and potential default stress, Bitcoin could enter a unique uptrend in the fourth quarter as the market believes in crypto determination of money supply tweeted.
“The debt ceiling drama could prevent regulators from avoiding allocation to Bitcoin.”
However, worries did not annoy the dollar at the start of the week as the US dollar currency index (DXY) climbed above the 94 support level again.