I just saw someone say that the price of Bitcoin can reach $350,000 before January next year. This is what the guy below said. It has been more than half a year. Now the price of Bitcoin is only 60,000. Let's see if this guy can predict it accurately.
Analysis: Bitcoin's current bull market may end in January next year, and the price can reach up to $350,000
Cryptocurrency trader and analyst Rekt Capital said that Bitcoin perfectly repeated the historical trend in 2016. Within three weeks after the halving, Bitcoin showed a downward trend below the bottom of the current re-accumulation (e-accumulation) range. Rekt said that the re-accumulation range at this time in the cycle is below the price of $61,081.
However, Timothy Peterson, founder and investment manager of Cane Island Alternative Advisors, pointed out that based on the chart of Bitcoin's price decline from the historical high (ATH) (measuring the decline of Bitcoin from the peak to the bottom in a specific time frame), it is expected that the price may rise to nearly six times the current price by early 2025.
Peterson said: "Based on adoption and previous price retracements, we can guess that the peak of this cycle will be between $175,000 and $350,000 in the next 9 months. Based on history, we can say that this bull run will end in January 2025." (Cointelegraph)
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Huaxia and Harvest are promoting the construction of mortgage financial products based on crypto spot ETFs
Executives of Hong Kong virtual asset ETF issuers Harvest International and Huaxia Fund Hong Kong confirmed at the recent Bitcoin Asia conference that they are working hard to promote the construction of mortgage financial products based on cryptocurrency spot ETFs.
David Bailey, co-founder and CEO of BTC Inc., said: "ETFs are, to some extent, an acknowledgement that Bitcoin will continue to exist. Hong Kong cannot just accidentally launch an ETF... This is not random. The Hong Kong government is very supportive of hosting a Bitcoin conference and believes that Bitcoin is a huge opportunity for Hong Kong."
It is reported that BTC Inc. is responsible for hosting the Bitcoin Conference and is the parent company of the crypto media Bitcoin Magazine. (South China Morning Post)
Earlier, Harvest Global CEO Han Tongli revealed that the company is preparing to issue a mortgage financial product based on a cryptocurrency spot ETF. The current goal is to strive to make the trading volume of its cryptocurrency spot ETF reach the first place in Hong Kong by the end of this year. According to data, the first-day trading volume of Harvest Global's cryptocurrency spot ETF ranked second among the three fund companies, and China Asset Management Co., Ltd. (ChinaAMC) ranked first. Han Tongli said that due to the outside world's doubts about Hong Kong's virtual asset commitment, many investors are still standing on the sidelines, which has put pressure on the trading volume of cryptocurrency spot ETFs. However, Han Tongli added that he is confident that Hong Kong's cryptocurrency ETF can grow to twice the size of the US product, but he did not mention when this milestone will be achieved.
