Earlier this month, Bitcoin price drastically dropped to $78,000, but in the past few days, it has shown significant growth. Investors are now anticipating further growth, especially with a strong bullish signal reappearing. The recent emotional shift of investors from bearish to bullish led to Bitcoin’s price fall. However, Bitcoin is currently on the rise due to the Federal Reserve’s decision to maintain interest rates and other positive factors. Last week, Bitcoin’s price increased by 5% to $88,600, but it is currently trading at $86,900 after a slight decrease. This price increase coincided with the introduction of Bitcoin ETP by BlackRock for European customers, significantly impacting the market with trading volume reaching $32.75 billion. Additionally, a $584 million Bitcoin purchase by Strategy, the approval of the Bitcoin reserve bill by Oklahoma, and other events contributed to this price hike. However, the reemergence of a bullish Bitcoin signal indicates a larger rally. Bitcoin has experienced significant growth throughout its history and may now be on the verge of one of its biggest surges. The Hash Ribbon indicator, which evaluates miner activities, has recently signaled a buy. This signal typically leads to significant price increases. In 2023, this signal resulted in a 200% growth, and in 2024, after miner conditions improved, it experienced a 120% growth. If a similar trend repeats, Bitcoin’s price could increase by 200%. Some predictions suggest that Bitcoin’s price could exceed $200,000 by the end of the year. However, investors should conduct further research to confirm the accuracy of these forecasts. You can track the live prices of all tokens and cryptocurrencies on the momentary price page.
