Key facts:
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“Bitcoin is going to $180,000, it’s inevitable,” says David Battaglia.
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Bitcoin ETFs are driving the price towards $60,000
This week, the price of Bitcoin (BTC) has been slowly recovering, after touching the $52,000 mark last week. So far, most scenarios point to the digital currency’s value breaking the $60,000 mark again, although there are a few considerations to keep in mind.
The market capitalization of stablecoins and the growth in stablecoin deposits on exchanges could positively impact the price of bitcoin. This, coupled with the fact that the digital currency’s reserves on exchanges are at an all-time low, looks like a favorable element.
The fact that inflation in the United States was lower than expected is another point in favor, especially if it finally Interest rate cut to be implemented next weekETFs have also had an impact on the price, breaking the longest streak of capital outflows so far. However, there is a lot of fear in the market, which can induce volatility, while fears are also growing that September will repeat as a negative month.
In regional news, there continues to be news related to thefts and seizures of miners in Paraguay, while El Salvador celebrated three years since the enactment of the Bitcoin Law.
If you missed some of the most relevant news of the week, don’t worry, we have compiled them here with our multimedia information menu.
Below we condense all the news events of the last week with our compilation video.
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