Bitcoin Price Prediction: Expert Sees $100,000 In Just 3 Months, Citing Key Indicator

Quick Summary:

The Bitcoin price had struggled to regain its bullish momentum after a sharp decline earlier this month, when it plunged to $49,000.  On Wednesday, the largest cryptocurrency by market capitalization reached a trading price of $58,700, but concerns about another potential crash, reminiscent of the drop on August 5, continue to loom over investors.

Additionally, speculation among traders regarding potential price increases has fostered a fragile trading environment.

Since August 5, open interest in Bitcoin futures surged from $13.5 billion to $17.9 billion—a 31% increase—while funding rates remained positive, indicating a premium on perpetual contracts.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Ronaldo Marquez

Category: Crypto

Markets: Hungary

Topics: Crypto Crypto news Btc Btcusd Bitcoin Digital currency Bitcoin price Bitcoin news BTCUSDT Cryptocurrency Bitcoin News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-29 @ 03:00:31 (4 days ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 424 words

Reading Time: 3 minutes read

Sentences: 33 lines

Sentence Length: 13 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 22291883

View Article Analysis

About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 10 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 9 hours ago

Coverage Areas: Hungary

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #105

Publisher Details

Frequently Asked Questions