'Incredibly Bullish:' Bitcoin To Reach $100K By Year-End Against Backdrop 'Unlike Anything Seen Before,' Says Expert
Portfolio Pulse from Khyathi Dalal
Crypto expert Scott Melker predicts Bitcoin (BTC) will reach $100,000 by year-end, citing an unprecedented bullish market setup. Factors include traditional finance inflows via ETFs, the launch of Spot Ethereum ETFs, and potential major announcements at the upcoming Bitcoin Conference. Melker also highlights the role of stablecoins like Tether (USDT) and Circle (USDC) in the market's growth.
July 19, 2024 | 5:51 pm
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Scott Melker predicts Bitcoin will reach $100,000 by year-end, driven by traditional finance inflows via ETFs and major announcements at the Bitcoin Conference.
Melker's prediction is based on several bullish factors, including traditional finance inflows via ETFs and potential major announcements at the Bitcoin Conference. These factors are likely to drive Bitcoin's price up in the short term.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Melker highlights the ongoing battle for market dominance between Circle (USDC) and Tether (USDT), with the stablecoin market potentially accelerating toward $1 trillion by 2030.
The growing importance of stablecoins in the crypto market, as highlighted by Melker, suggests a positive outlook for USDC. Increased adoption and market dominance could drive its value up.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Melker highlights the ongoing battle for market dominance between Tether (USDT) and Circle (USDC), with the stablecoin market potentially accelerating toward $1 trillion by 2030.
The growing importance of stablecoins in the crypto market, as highlighted by Melker, suggests a positive outlook for USDT. Increased adoption and market dominance could drive its value up.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50