Price analysis

MicroStrategy stock set to gain 30% if BTC hits $150K in 2025 — Analyst

August 2, 2024 Coin Telegraph

MicroStrategy stock set to gain 30% if BTC hits 0K in 2025 — Analyst

The valuation assumes continued aggressive Bitcoin buying by MicroStrategy.

Shares of MicroStrategy are set for 30% gains if Bitcoin (BTC) climbs to $150,000 by the end of 2025, according to an Aug. 2 analyst report shared with Cointelegraph.

The stock could reach $2,150 per share if MicroStrategy sustains the BTC buying spree started by founder Michael Saylor in 2020, according to Benchmark fintech analyst Mark Palmer. It currently trades at around $1,450.

“Our valuation assumes that [MicroStrategy] will continue to aggressively accumulate Bitcoin during the next 1.5 years and that Bitcoin’s price will reach $150,000” by the end of 2025, Palmer told Cointelegraph in an email.

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$95K or $120K? Bitcoin traders diverge on next BTC price top

August 1, 2024 Coin Telegraph

K or 0K? Bitcoin traders diverge on next BTC price top

Analysis

Bitcoin could reach a macro price top of above $100,000, but can BTC stage a weekly close above $71,500 to confirm a breakout?

Traders and market analysts are divided over Bitcoin’s next potential macro top, which could reach $120,000 according to more bullish estimates. Can Bitcoin get a weekly close above the $71,500 mark?

Bitcoin’s (BTC) price could be on track to the next leg up in the bull cycle, which could see the world’s first cryptocurrency hit the $120,000 mark, according to technical analysis by crypto trader Mikybull.

The popular trader wrote in a July 31 X post to his 71,000 followers:

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Ethereum Technical Analysis: ETH Shows Signs of Recovery as Bulls Eye $3,400 Breakout

July 29, 2024 Bitcoin.com

Ethereum Technical Analysis: ETH Shows Signs of Recovery as Bulls Eye ,400 Breakout

bitcoin.com

Ethereum is currently priced at $3,374, with intraday fluctuations ranging from $3,253 to $3,395. Boasting a market capitalization of $407 billion and a 24-hour trade volume of $11.49 billion, ETH demonstrates significant market activity. Ethereum The hourly chart for ethereum (ETH) depicts a sharp decline followed by a steady recovery. After hitting a low of […]

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Bitcoin’s price rally to $70K could lure buyers to XRP, KAS, STX and JASMY

July 28, 2024 Coin Telegraph

Bitcoin

Bitcoin remains on target to reach $70,000, and if that happens, XRP, KAS, STX and JASMY could find buyers.

Bitcoin (BTC) has recovered sharply from the intra-week lows, indicating a positive sentiment where dips are being purchased. Market analytics firm Santiment said in a X post that the ratio of positive comments to negative comments toward Bitcoin has reached its highest level since March 2023.

While the short-term traders are focusing on a new all-time high for Bitcoin, the long-term investors are projecting uber-bullish targets for Bitcoin. SkyBridge Capital founder Anthony Scaramucci said during the Bitcoin 2024 conference in Nashville, Tennessee, that Bitcoin’s market capitalization will probably overtake the total market capitalization of gold. Bitcoin’s market capitalization is roughly $1.3 trillion, while gold is between $15 trillion-$16 trillion.

Bitcoin’s bullishness did not rub off on Ether (ETH), which is down more than 7% this week. The negative sentiment in Ether is largely due to the net outflows of about $342 million from the Ether exchange-traded funds, per data from SoSo Value.

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Key altcoin season metric in accumulation mode as Bitcoin dominance peaks

July 26, 2024 Coin Telegraph

Altcoin Watch

Altcoins are in accumulation territory after experiencing a drawdown over the last 3 months.

The altcoin market is currently at the “reaccumulation stage,” which, after reclaiming a key support area, could move on to the “second leg of the cycle,” according to crypto traders.

“Altcoins are only up 58% since they broke out after 525 days of accumulation,” independent crypto trader Mags said in part of their July 25 post on X.

The accumulation stage occurs when the market has bottomed out, and prices hit local bottoms, as reflected by a 33% drop of TOTAL2 (total market capitalization of all cryptocurrencies, excluding Bitcoin) since March 11. It is marked by a period of relative stability, where investors buy on the dips in anticipation of future price increases.

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Michael Saylor ups Bitcoin price forecast to $13 million in mega-bullish keynote — Bitcoin 2024

July 26, 2024 Coin Telegraph

Bitcoin Price

"Triple maxi" Bitcoin bulls could earn a net worth of $214 million by 2045, Saylor said.

Michael Saylor, the outspoken co-founder of business intelligence company MicroStrategy, predicted Bitcoin (BTC) will reach $13 million per coin by 2045 during a mega-bullish keynote speech on July 26 at the Bitcoin 2024 conference.

Saylor's forecast — which upgrades his $10 million estimate in June — is only a base case. “It could be a $3 million bear case, it could be a $49 million bull case,” according to Saylor, who urged listeners at the Nashville, Tennessee event to become “triple maxi” Bitcoin bulls.

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VanEck says Bitcoin could hit $2.9 million per coin by 2050

July 25, 2024 Coin Telegraph

VanEck says Bitcoin could hit .9 million per coin by 2050

Analysis

Bitcoin Layer-2s could be collectively worth around $7.6 trillion, the report added.

Investment manager VanEck foresees Bitcoin (BTC) potentially hitting $61 trillion in total market capitalization — or some $2.9 million per coin — in 2050 as a result of massive demand for the decentralized currency as collateral for trade settlement and a reserve for central banks, according to a July 24 report.

“It is conceivable that by 2050 Bitcoin could be used to settle 10% of the globe’s international trade and 5% of the world’s domestic trade,” VanEck said in the report. “This scenario would result in central banks holding 2.5% of their assets in BTC.”

VanEck adds that scaling solutions for Bitcoin’s blockchain network — Bitcoin Layer-2s — could collectively be worth approximately $7.6 trillion, or around 12% of BTC’s total value.

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Price analysis 7/24: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB

July 24, 2024 Coin Telegraph

Avalanche

Bitcoin bulls are trying to protect the $65,500 level, but if they fail, a drop to $62,000 is possible.

Crypto exchange Kraken said in a July 24 X post that it had distributed all the funds to the Mt. Gox creditors. However, that has not boosted Bitcoin’s (BTC) volatility, suggesting that the recipients of the repayments are not rushing to book profits as anticipated by a few analysts.

Similarly, the launch of spot Ether (ETH) exchange-traded funds (ETFs) failed to start any fireworks in Ether, suggesting that the markets are in a wait-and-watch mode. A minor positive is that the Ether ETFs witnessed net inflows of $106.6 million on the first day, even after $485 million in outflows from Grayscale’s freshly converted Ethereum Trust.

Bitcoin and select major altcoins have been consolidating for some time, indicating indecision between the bulls and the bears about the next directional move. The longer the range, the stronger the trigger needed for the price to break out from it.

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Price analysis 7/22: SPX, DXY, BTC, ETH, BNB, SOL, XRP, TON, DOGE, ADA

July 22, 2024 Coin Telegraph

Bitcoin

Digital investment products are witnessing solid buying, but it may take a stronger trigger to propel Bitcoin to a new all-time high.

The S&P 500 Index (SPX) plunged about 2% last week, but the weakness in the equity markets could not dampen the enthusiasm of the cryptocurrency traders. Bitcoin (BTC) made a strong comeback, rising roughly 12% for the week.

According to CoinShares da, digital asset investment products witnessed strong inflows of $1.35 billion last week, taking the total inflows in the past three weeks to $3.2 billion. Bitcoin’s strength also resulted in outflows of $1.9 million from short-Bitcoin exchange-traded products.

Even after the recent rally, Bitcoin remains stuck inside a sideways price action. As the price nears the resistance, the bears are likely to pose a strong challenge. However, analysts are optimistic about Bitcoin hitting a new all-time high.

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Bitcoin price advance toward $68K sets a bullish path for SOL, ICP, GRT and BONK

July 21, 2024 Coin Telegraph

and Bonk

Solid inflows into spot Bitcoin ETFs reflect investors' bullish sentiment, and this could push SOL, ICP, GRT and BONK.

Bitcoin (BTC) has been gradually inching higher toward the $70,000 mark, indicating that the sentiment remains positive. United States-based spot Bitcoin exchange-traded funds witnessed inflows of $383 million on July 19, per Farside Investors data. That pushed the cumulative net inflows into the ETFs to more than $17 billion since their launch.

As Bitcoin’s price maintains above $65,000, Bitcoin whales seem to have reduced their selling. CryptoQuant head of research Julio Moreno said in a post on X that selling by large Bitcoin investors has exhausted and “valuation metrics suggest positive momentum.”

Bitcoin’s strength has resulted in a recovery in several altcoins. The cryptocurrency markets may receive a further boost from the launch of Ethereum ETFs, which are expected to start trading on July 23.

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