Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Bitcoin Set for Major Surge, Analysts Forecast 40% Price Increase

Bitcoin Set for Major Surge, Analysts Forecast 40% Price Increase

CryptodnesCryptodnes2024/11/08 18:11
By:Cryptodnes

Following the recent election of Donald Trump, Bitcoin and cryptocurrency markets are buzzing with optimism, as the new administration is expected to bring a friendlier stance toward digital assets than the previous one.

With Kamala Harris conceding, Trump’s win has already sent Bitcoin soaring by 8%, reaching $75,000—its highest since March. Many analysts see this rally as only the beginning of a potential price surge for Bitcoin.

Ki Young Ju, CEO of CryptoQuant, believes there is still room for Bitcoin to climb, possibly up to 40% in the short term.

New investors often hold $BTC through bear markets, enduring losses.

After about two years, it changes hands when pain eases. That time is now.

It could go up +30-40% from here, but not like the +368% we saw from $16K. Time to consider gradual selling, not all-in buying, imo. pic.twitter.com/hXRT6YBsxS

— Ki Young Ju (@ki_young_ju) November 6, 2024

As Bitcoin enters the ranks of the top 10 financial assets by market cap, Ju encourages investors to remain level-headed. He advises a gradual selling strategy to ease pressure as the market stabilizes.

READ MORE:
Avalanche Buys Back $52M in AVAX, Ends Ties with Terra

Ju further noted that Bitcoin’s cyclical patterns influence holder behavior, as new investors often endure bear markets before assets eventually change hands.

In a recent post, he highlighted that this period of “easing pain” could lead to a 30-40% increase but warned against expecting the same gains seen in previous bull runs.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Bitcoin is about to break 100,000 dollars, while altcoins are underwhelming

Market liquidity shows a trend of centralization, and the sentiment for crypto compliance still needs to be realized.

Chaincatcher2024/11/21 12:00

TikTok Meme is here: After spending a night watching videos, my account lost 50%

Can TikTok serve as a traffic hub to attract a large number of Web2 users into Web3?

Chaincatcher2024/11/21 12:00

The popular TikTok meme has a value of 600 million dollars in the cryptocurrency world, reviewing Chillguy's rapid rise to fame

"That year I had my hands in my pockets, not knowing what a rival was."

Chaincatcher2024/11/21 12:00

What the US election outcome spurred in crypto land

Senator Cynthia Lummis hopes a US strategic bitcoin reserve can be teed up for “adoption in 2025”

Blockworks2024/11/21 11:11