Bitcoin, Ethereum, Dogecoin Rise Amid Uptick In BTC Wallets To All-Time High: Analyst Says This Is How Long It Will Take For King Crypto's 'Big Move'
Portfolio Pulse from Mehab Qureshi
Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin saw gains as the number of wallets holding at least one Bitcoin reached a record-breaking 1,008,737 million. Analysts suggest that this surge in decentralization within the network could lead to a 'big move' for Bitcoin. Standard Chartered has given Bitcoin a strong vote of confidence with a price target of $50,000 this year and $120,000 for 2024. However, the timeline for the next Bitcoin bull run is estimated to be about eight months.
July 11, 2023 | 2:53 am
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POSITIVE IMPACT
Bitcoin saw a gain and the number of wallets holding at least one Bitcoin reached a record high. Standard Chartered predicts Bitcoin to hit $50,000 this year and $120,000 for 2024.
The increase in the number of Bitcoin wallets indicates a surge in decentralization within the network, which is a positive sign. The strong vote of confidence from Standard Chartered also adds to the positive sentiment around Bitcoin.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Dogecoin saw a gain amid the overall positive sentiment in the cryptocurrency market.
Dogecoin's gain is likely due to the overall positive sentiment in the cryptocurrency market, driven by the increase in the number of Bitcoin wallets and the positive outlook for Bitcoin.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Ethereum saw a gain amid the overall positive sentiment in the cryptocurrency market.
Ethereum's gain is likely due to the overall positive sentiment in the cryptocurrency market, driven by the increase in the number of Bitcoin wallets and the positive outlook for Bitcoin.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50