‘Santa Rally’ Could Propel Bitcoin to $56K by Year-End, Matrixport Says
“Bitcoin continues to offer upside potential, and a +65% year-end rally would lift prices back to $56,000,” Thielen added.
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“Bitcoin continues to offer upside potential, and a +65% year-end rally would lift prices back to $56,000,” Thielen added.
Market participants will now turn to Fed Chair Jerome Powell’s post-meeting press conference to glean insight into the future path of U.S. central bank policy.
The boredom ended in October as cryptocurrency prices zoomed higher, with the biggest of them all, bitcoin [BTC], posting the strongest monthly rally since January as investors were abuzz with optimism that bitcoin ETFs will soon get approved in the U.S.
Satoshi Nakamoto published the Bitcoin white paper on Halloween Day in 2008. (Jonathan Borba/Unsplash, modified by CoinDesk)
The titans of finance are increasingly driving a space that, to many, was designed to put them out of business.
Ether-based funds continue to fall out of favor, with outflows for the year now totaling $125 million.
The latest in blockchain tech upgrades, funding announcements and deals. For the week of Oct. 16-22, with live updates throughout.
Bitcoin’s advance this week coupled with gains across all digital asset sectors, highlighting the breadth of the crypto rally.
When crypto mining is discussed in the U.S. Congress, it’s often tied to claims that mining operations are environmental parasites, sapping finite energy resources. But representatives of that sector flooded offices on Capitol Hill this week to argue their businesses can help stabilize the power grid, tie into renewable resources and foster domestic technology.
The Fed is widely expected to hold rates steady next week, but traders will be watching for signals about future policy moves.