Bitcoin To Bounce Back? Analyst Predicts $90,000 After $58K Drop

Quick Summary:

He points to Standard Chartered Bank’s projection of Bitcoin reaching a staggering $100,000 by August as a sign of growing institutional confidence. While he offers a slightly more conservative prediction of $90,000, his focus lies on the long-term impact of this institutional influx.

Institutional Investors Set To Supercharge The Market Davis believes a surge of institutional money is poised to enter the crypto market, acting as a major catalyst for the predicted rally.

If Bitcoin can overcome the $72,000 resistance level, a Q4 bull run could be triggered, potentially sending shockwaves through the entire crypto market.

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Article Details

Author / Journalist: Christian Encila

Category: Crypto

Markets: United KingdomCanadaSouth KoreaPhilippines

Topics: Cryptocurrency Market News Bitcoin Etf Crypto Altcoins Btcusd Btc

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-04 @ 12:30:47 (3 days ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 454 words

Reading Time: 3 minutes read

Sentences: 70 lines

Sentence Length: 7 words per sentence (average)

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

Copyright Owner: © NewsBTC

News ID: 21481635

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About NewsBTC

Main Topics: Crypto

Official Website: newsbtc.com

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Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 17 hours ago

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