Bitcoin Price Prediction as Bears Push BTC Below $63,000 Level – Where is the Next Support
Bitcoin (BTC) maintained its upward trend and experienced a strong upward rally, hitting the intra-day high of $65,100 before dropping near the $63,000 mark. Despite minor dips in other altcoins like Ethereum (ETH) and Dogecoin (DOGE), BTC held its ground.
Fidelity’s sizeable investment in a Bitcoin ETF, which reflects strong institutional confidence, was one of many factors that contributed to the recent bullish performance of Bitcoin.
Meanwhile, slower economic growth and high inflation in the US could weaken investor sentiment and put downward pressure on the US dollar, boosting the appeal of Bitcoin as a hedge.
Robert Kiyosaki, a noted financial expert, supports Ark Invest’s prediction that Bitcoin could soar to between $120,000 and $2.3 million due to potential institutional investments.
He emphasizes the value of taking risks and investing in Bitcoin, suggesting that such steps offer both financial growth and valuable lessons.
Kiyosaki’s backing might boost investor confidence, potentially increasing demand and driving up Bitcoin prices.
Key Takeaways:
Mark Yusko, CEO of Morgan Creek Capital, anticipates a significant $300 billion transfer from American baby boomers’ retirement accounts into cryptocurrency, particularly through Bitcoin ETFs.
Despite the current $53 billion value of Bitcoin ETFs, Yusko sees this as merely the beginning, suggesting that only 10% of the potential market impact has been realized. This influx could propel Bitcoin’s total market value close to $6 trillion, marking a substantial market upswing.
Key Takeaways:
In the first quarter of 2024, U.S. economic growth underperformed, expanding only by 1.6% compared to the expected 2.5%. Persistently high inflation is evident, with the Personal
