Bitcoin began its attack this morning, officially standing at 69K, only 6.7% away from the historical high of $73,798 in March. Bitwise founder Matt Hougan is optimistic, pointing out that Bitcoin is heading towards $100,000.
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ToggleBitwise: Bitcoin is heading towards $100,000
Bitwise founder Matt Hougan points out that Bitcoin is heading towards a six-figure price (over $100,000) due to the following factors:
- ETF inflows reaccelerating
- Approaching US election
- Infinite deficits (bipartisan agreement!)
- Economic stimulus in China
- Global rate cuts (Fed, ECB)
- Halving supply shock starting to bite
- Whales accumulating
We're heading to six-figure bitcoin.
— Matt Hougan (@Matt_Hougan) October 18, 2024
* ETF flows reaccelerating
* Election approaching
* Infinite deficits (bipartisan agreement!)
* Economic stimulus in China
* Global rate cuts (Fed, ECB)
* Halving supply shock starting to bite
* Whales accumulating
Top 10 Cryptocurrency Price Movements
Except for TRX, the top 10 cryptocurrencies by market cap are all in an upward trend, with Ethereum reaching $2,700, a 4% 24-hour gain. SOL is up 6.8%, trading at $169. The original meme coin Doge has even surged 31% in a week, thanks to its strongest supporter Elon Musk's recent frequent appearances.
