TL;DR
- Prediction of a possible rise of Bitcoin to $140,000 in 18 days by analyst CryptosRUs.
- MicroStrategy, led by Michael Saylor, acquires 12,600 BTC worth $842 million, increasing its total Bitcoin portfolio to 193,000 BTC.
- VanEck temporarily reduces management fees for its BTC ETF to zero until March 2025.
Against a backdrop of growing optimism in the cryptocurrency market, an analyst known as CryptosRUs has fanned the flames of speculation by predicting a possible rise in the price of Bitcoin (BTC) to $140,000 within 18 days.
This bold prediction is based on several key factors that are influencing the market currently.
#Bitcoin To $140,000 in 18 Days? Why There is a Chance… https://t.co/ghH8XGxLqC
— CryptosRus (@CryptosR_Us) March 12, 2024
One of these factors is the recent massive acquisition of BTC by MicroStrategy, a company run by well-known Bitcoin advocate Michael Saylor.
MicroStrategy has purchased 12,600 BTC worth an impressive $842 million, bringing its total BTC portfolio to a staggering 193,000 BTC.
This massive purchase has not only generated headlines, but has also reinforced confidence in the future of Bitcoin among investors and market analysts.
Another bullish push comes from VanEck, a major investment management firm, which has decided to temporarily reduce management fees for its BTC ETF to zero until March 2025.
This decision reflects the growing acceptance of BTC among institutional investors and suggests increased interest in the cryptocurrency as a legitimate and attractive asset class.
Bitcoin has been demonstrating solid performance since the launch of Bitcoin ETFs on the spot market
Despite significant fluctuations, Bitcoin has reached new all-time highs, surpassing the previous mark of $69,044 and is currently trading at $71,634.
This bullish trend has resulted in an increase of 6.55% in the last one-week period, with a further increase of 4% in the last 24 hours.
However, although the outlook is optimistic, it is important to take into account the inherent volatility of the cryptocurrency market.
Predictions are speculative and subject to a number of unpredictable factors that could influence the price of BTC in either direction.
Investors should exercise due diligence and consider the risks before making investment decisions based on these predictions.
