Analysts say that Bitcoin could continue to break new all-time high prices over the past few days, and that a new accumulation phase has started which could push the price up to $150,000 by the end of this year.။

New ATH

Just this month, the Bitcoin price reached above $126,000, and its market capitalization also surpassed $2.5 trillion for the first time in crypto history.
The first time a US government shutdown happened since 2018 has also been viewed as increasing renewed interest in Bitcoin as a store-of-value asset.
.
Sygnum Bank’s chief investment officer, Fabian Dori, said that the political turmoil in the US is creating fresh interest in assets not controlled by central authorities, which is making the role of a US government shutdown in highlighting Bitcoin’s function as a store of value stand out.

Government Shutdown

He also said that the impact of a US government shutdown on the crypto market depends mainly on how it will influence the decisions on interest rates by the US Federal Reserve. Kennis estimates that if the shutdown issue gets resolved, uncertainty will decrease, and if it can push the Fed toward cutting interest rates, crypto markets could see additional benefits.
.
On-chain data right now shows that whale selling pressure is declining, and Bitcoin’s price rise is also being recorded as a period when major firms are accumulating.
Now big institutions can buy Bitcoin officially and easily through Spot Bitcoin ETFs (Exchange-Traded Funds), so billions of dollars are flowing into the market, and Bitcoin’s market value has even surpassed Amazon, which is a large technology company.
.
So this time, the price increase is mainly being driven by large corporations, and it seems that sentimental value is stronger than actual use cases. As for what happens next amid these ups and downs, on the bullish side, Bitcoin could continue rising in the $134,000 to $140,000 range. The probability is still low, but if it can keep climbing beyond that, it may be estimated to reach $160,000 to $181,000.
.
However, if bad news from a US government shutdown keeps coming out, the price could fall back from under $110,000 all the way to $83,000.
So in the meantime, buyers should consider taking some profit, and for those waiting to buy, it may be best to accumulate gradually using a DCA approach.
.
For a trader, what’s essential is only the Binance account link that gives a 10% discount. If you’re not opening an account with that link, then you should open a new account using this link first, and then do the trading.
https://accounts.binance.com/en/register?ref=SBKZZWWJ
Referral Code for Futures Trading: myancrypto
Referral Code for Mining Account: E381THBL