Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Analysis: The rise in U.S. stocks may indirectly prevent Bitcoin from reaching a historic high before the "halving"

Analysis: The rise in U.S. stocks may indirectly prevent Bitcoin from reaching a historic high before the "halving"

2024/02/18 01:28
BTC-0.05%

Cryptocurrency analyst Marcel Pechman wrote in an analysis that data shows investors expect earnings growth of SP 500 companies to reach 10.9%, higher than the 3.8% in 2023. Assuming the risk brought by current inflation is equivalent to the risk when Bitcoin reached its historical high, investors are likely not motivated to seek alternative assets. For Bitcoin to rise from its current level of $52,000 to a new high of $70,000, it needs an additional increase of 34.5%, which means that the market value of Bitcoin will increase by $350 billion. However, as long as the dollar continues to depreciate, there is still hope for Bitcoin to rise above $70,000 but this is unlikely before April's block reward "halving".

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: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Trending news

More
1
Data: 5.34 million LINK have been withdrawn from exchanges in the past 24 hours
2
Derive co-founder proposes to increase DRV token supply by 50%

Crypto prices

More
Bitcoin
Bitcoin
BTC
$116,010.13
-0.01%
Ethereum
Ethereum
ETH
$4,661.04
-0.15%
XRP
XRP
XRP
$3.12
+0.38%
Tether USDt
Tether USDt
USDT
$1
-0.05%
Solana
Solana
SOL
$240.52
+0.68%
BNB
BNB
BNB
$930.24
+0.71%
USDC
USDC
USDC
$0.9997
-0.01%
Dogecoin
Dogecoin
DOGE
$0.2895
+6.75%
Cardano
Cardano
ADA
$0.9311
+2.94%
TRON
TRON
TRX
$0.3496
-0.41%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter