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Bitcoin’s market capitalization has experienced substantial growth in 2023, rising from $320 billion to $827 billion, an increase of $500 billion for BTC holders , Matrixport says. In a recent report by Matrixport, the Singapore-headquartered crypto investment firm argues that significant attention should be given to the pivotal role of U.S. inflation as a critical variable in the accumulation of Bitcoin wealth . Over the last year, official inflation in the US has decreased from 8% to 3.1%, with analysts expecting a further decline to 2% in 2024. Despite the Federal Reserve indicating a reduction in interest rates in 2024, analysts project that the gap between Fed Funds rates and the Consumer Price Index (CPI) will likely remain constant, leading to the accumulation of further Bitcoin wealth . “While the Fed has guided the market in cutting interest rates by 75 basis points in 2024, the gap between Fed Funds rates and CPI is significantly wider, notably 220 basis poin...

In a recent series of X posts, the head of Blockstream Adam Back said the largest by market cap cryptocurrency might surge to $100k before the 2024 halving . According to the Blockstream CEO, Bitcoin (BTC) “will surely flip physical gold sooner or later” as the probability of this scenario is high enough for “this halving cycle.” In an X post on Sunday, Dec. 3, 2023 Back said he expects the top cryptocurrency to set a new all-time high at $100,000 even before the 2024 halving. That's what I've been saying, my bet is $100k befofe the halving. — Adam Back (@adam3us) December 2, 2023 You might also like: Bitcoin to hit $45k in 2023 as funding rates signal FOMO, Matrixport says As per Back, Bitcoin will benefit most from an intergenerational transfer of wealth as Gen X and millennials are likely to liquidate their portfolios in stocks, bonds and pension pots. He also noted that some people have already started “selling gold to buy B...

Bitcoin is still down 60% from its November 2021 all-time high so many traders are wondering if BTC price could crash further in the coming months. Bitcoin (BTC) is still in a bullish reversal when looking at this year's price chart. BTC price has gained 70% after bottoming out at around $16,800 in November 2022, defying rate hike fears while riding on growing ETF approval optimism.  However, in recent months, Bitcoin bulls have failed to sustain BTC price above $30,000. Therefore, with the "bullish" halving is still over 200 days away, many traders are wondering: is Bitcoin price going to cash again in the coming months?  Let's take a closer look at the possible scenarios as Q3 draws to a close. Fibonacci fractal hints at Bitcoin crash to $21,500 From a technical standpoint, Bitcoin price has stabilized around the 0.236 Fib line of its Fibonacci retracement graph drawn from the $69,000-swing high (the market top) to the $15,900-swing low (the local market bottom)...