Bitcoin could surge to a price of $150,000 before the end of the year, according to a new report from Cooper Research.
The research company predicts that the world’s oldest cryptocurrency could reach a price of $140,000 in September, sailing to $150,000 in early October, according to Friday. That rise According to analysts, “it seems inevitable” as investors pour large amounts of money into the trade funds for Bitcoin exchange.
“In various data metrics, Bitcoin appears to be prepared in another important leg upward direction,” the analyst wrote.
Previous findings from Cooper researchers, they added, could begin to overheat the Bitcoin market this year between $140,000 and $200,000.
Bitcoin is poised to hit new highs Economic uncertainty will lead investors to park their funds in risk-on investments, including spot Bitcoin ETFs.
The Bureau of Labor Statistics reported this week that consumer prices had been ticking in June, driving investors’ uncertainty over the US economy. Meanwhile, the Federal Reserve is reportedly poised to delay interest rate cuts at a meeting later this month, further depriving concerns that the US economy will stagnate. The central bank has not cut fees since December. The bond market also shows signs of distress highlighting investors’ concerns about federal debt levels.
Among these factors, the US spot Bitcoin ETF pulled in more than $2 billion this week, marking one of the best weeks since the SEC greenlighted in January 2024.
According to the report, these inflows will have a major impact on Bitcoin prices.
According to analysts, Bitcoin has averaged 1.8% for every 10,000 Bitcoins added to ETF Holdings. That growing demand has helped push Bitcoin prices to multiple new all-time highs since late last week. Co Ringecko.
But Bitcoin is poised to make large profits, which could soon begin trading in a much more volatile way, analysts noted.
““The price action of Bitcoin may take a more tempered path as smarter capital takes the reins and leveraged-driven retail nerds have faded into history,” they said.
