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Grayscale XRP Trust Now Open for Eligible Accredited Investors

Abdulkarim Abdulwahab
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Grayscale XRP Trust Now Open for Eligible Accredited Investors

Leading digital asset manager Grayscale has announced the reopening of its private placement offerings for several cryptocurrency trusts, including XRP.

The announcement stated that the private placement is now open to accredited investors. As of September 15, eligible participants can subscribe to shares of 18 key crypto trusts. They include the Grayscale Avalanche Trust, Grayscale Bitcoin Cash Trust, Grayscale Solana Trust, and the newly reintroduced Grayscale XRP Trust.

These private placements allow accredited investors to purchase shares of these trusts at the net asset value (NAV). This provides direct exposure to the underlying digital assets without the complexities of managing the tokens themselves.

Notably, Grayscale products, including the Grayscale XRP Trust, initially go live as private placements. They offer accredited investors a traditional investment structure to gain exposure to cryptocurrencies.

During this phase, shares purchased are subject to a one-year holding period, restricting their transfer or sale. Currently, the Grayscale XRP Trust and eight other products, such as the Grayscale Sui Trust, remain in the private placement stage.

Grayscale XRP Trust Performance

This announcement from Grayscale comes just days after the asset manager reintroduced the XRP Trust into the financial market.

The move has triggered bullish sentiment around XRP, contributing to the asset’s consistent uptrend over the past week. Many XRP proponents believe this could be a precursor to an XRP ETF.

The Grayscale XRP Trust offers a secure and convenient way for investors to gain exposure to XRP without the challenges of directly purchasing, storing, and safeguarding it. By investing in the trust, shareholders can benefit from the value of XRP minus fees and expenses. The shares mirror the market price of XRP.

As of September 17, the performance of Grayscale’s XRP Trust has been notable. It boasts a NAV per share of $11.77, up from $10.31 on September 6. The NAV per share saw a 1-day increase of 0.34%.

Grayscale Xrp
Grayscale XRP Trust Perfomance

The trust manages $622,376.55 in assets, with an XRP per share of 19.98. Grayscale charges a 2.50% management fee with no performance fee.

Expert Says XRP to $1.1 In No Time As XRP Nears Completion of H&S Pattern

Sam Wisdom Raphael
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Expert Says XRP to $1.1 In No Time As XRP Nears Completion of H&S Pattern

XRP is on the verge of completing a bullish head and shoulders (H&S) pattern, which could set the stage for an impressive price movement. 

A recent analysis from market commentator Steph confirms that an inverted head and shoulders (H&S) formation has nearly taken shape on the daily chart. This pattern is a strong bullish reversal indicator, and if confirmed, XRP could aim for a rally above $1 in the short term.

Head and Shoulders Formation

Notably, market data reveals that the left shoulder in this pattern began forming in late 2023. Specifically, XRP experienced a significant decline from its $0.70 peak in December 2023, collapsing to a low of $0.4855 in January 2024. 

Following this drop, XRP recorded a sharp recovery campaign that pushed it to $0.7449 by March 2024. This recovery came on the back of the broader market uptrend, as Bitcoin (BTC) crossed $73K to reach a new ATH. XRP’s surge to $0.7449 completed the formation of the left shoulder.

XRP Head and Shoulders Steph is Crypto
XRP Head and Shoulders | Steph is Crypto

However, the broader market corrected, with XRP witnessing a sharp drop. The retracement pushed XRP back down, reaching a low of $0.3824 in July 2024, setting the stage for the head. As XRP recovered from this low to hit $0.6580 on July 31, it completely formed the head.

Interestingly, since then, the right shoulder has been in progress amid the drop from the $0.6580 high. XRP recently fell $0.5026 on Sept. 6, forming the base of the right shoulder. 

Currently, XRP is trading at $0.5787. Steph stressed that the right shoulder will be confirmed if XRP manages to continue its upward trajectory and breaches the neckline of the H&S pattern, which stands at $0.6580. 

Should this breakout occur, the market analyst believes XRP could quickly rise to breach $1 in a short time frame. Steph sets an initial target of $1.10. For context, the last time XRP saw the $1 level was in December 2021.

XRP Bollinger Bands and RSI Indications

In addition to the inverted H&S pattern, the Bollinger Bands and Relative Strength Index (RSI) provide supporting data for a potential bullish scenario. 

On the daily chart, XRP is trading slightly above the middle Bollinger Band (20-day moving average) at $0.5574. This setup suggests that despite the ongoing market uncertainty, buyers remain in control. 

XRP 1D Chart
XRP 1D Chart

Meanwhile, the lower Bollinger Band, which stands at $0.5156, has provided solid support in recent declines. However, the upper band at $0.5993 is acting as a near-term resistance.

If XRP can breach this upper Bollinger Band level, the bulls are likely to gather enough momentum to test the neckline resistance of $0.65. The breakout of the neckline would then trigger a potential run towards $1.10, as indicated by the H&S formation.

Meanwhile, the RSI reading is currently at 54.01, with the signal line at 48.03. An RSI above 50 generally signals positive momentum, indicating that XRP still has room to rise in the near term.

Top Analyst Says Love XRP or Hate it, It Will Rise With or Without You As XRP Volume Signals Imminent Explosion

Abdulkarim Abdulwahab
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Top Analyst Says Love XRP or Hate it, It Will Rise With or Without You As XRP Volume Signals Imminent Explosion

A widely followed crypto analyst, “360 Trader,” argues that the XRP price is about to “explode” based on key observations of chart patterns on the weekly timeframe.

The XRP chart highlights an uptick in weekly trading volume and a symmetrical triangle pattern formed by converging trendlines.

Notably, XRP has been consolidating within this triangle for several months. Now, the price is approaching the apex of the triangle, where a breakout—either upward or downward—becomes increasingly likely.

While symmetrical triangles can signal movements in either direction, “360 Trader” suggests that XRP’s next move will be upward.

The chart identified the critical resistance level of $0.65, which remains the key price point to watch. If XRP successfully breaks above this resistance, it could trigger a more substantial price rally.

XRP 1W by 360 Trader

XRP is currently hovering around $0.5784, having seen consistent increases over the last seven days.

Volume Surge Confirms Bullish Sentiment

Alongside the symmetrical triangle approaching a breaking point, another strong indicator fueling the trader’s bullish sentiment on XRP is a rise in trading volume.

Over the past weeks, XRP’s trading volume spiked, confirming growing interest in the asset amid recent developments. Market data indicates that over 12.73 billion XRP were traded in the last seven days.

In the last 24 hours alone, XRP’s trading volume exceeded 2 billion, and in the last 30 days, a staggering 50.57 billion tokens have been traded.

XRP Volume
XRP Volume | CoinMarketCap

Notably, market analysts believe that high volume during consolidation phases often precedes major price movements.

Additionally, 360 Trader’s chart highlighted an ascending trendline, which suggests that while XRP has struggled to break through resistance, it has maintained a steady upward trajectory since early 2023.

Charts Don’t Care About Emotion, XRP Set to Explode Soon

Based on these observations, with a particular emphasis on XRP’s weekly volume, the trader asserted that the price could skyrocket anytime soon.

He noted that market participants may choose to hate XRP—referring to skeptics—or love it, as enthusiasts do, but the chart does not care. “It will go with you or without you,” he said, emphasizing his confidence in an explosive price move for XRP regardless of popular sentiment.

Market commentators widely hold this bullish sentiment surrounding XRP. In an earlier update, Bitcoin analyst Max Schwartzman revealed his unexpected decision to accumulate XRP, citing insights from its historical charts.

He admitted he “never in a million years” thought he’d invest heavily in XRP but emphasized that “the chart never lies.” The analyst is targeting an eightfold return from XRP by next year.

Skeptics Weigh in

Meanwhile, skepticism persists about XRP’s prospects. Responding to the update, a community member asked 360 Trader to highlight a definite timeline for when “soon” might translate into action regarding XRP’s surge.

The commenter noted that similar calls have been made consistently for several years, yet XRP’s price has not significantly changed.

Cardano Price Eyes $0.555 as Symmetrical Triangle Pattern Takes Shape

Albert Brown
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Cardano Price Eyes $0.555 as Symmetrical Triangle Pattern Takes Shape

Cardano price action forms a symmetrical triangle pattern, signaling potential price movement amid mixed network activity.

Over the past four months, Cardano has faced a significant price drop, falling by more than 30%. This has drawn attention from market observers, especially as the broader crypto market waits for upcoming decisions from the Federal Reserve.

Amid this decline, recent analysis suggests potential scenarios for Cardano’s price movements, considering the possible effects of Federal Reserve rate cuts.

Symmetrical Triangle Signals Shift in Cardano Price

Dan Gambardello, founder of Crypto Capital Venture, has analyzed Cardano’s chart, identifying a symmetrical triangle pattern that indicates consolidation. 

The chart highlights two possible outcomes: a bearish breakdown or a bullish breakout. While a breakdown might send Cardano’s price toward $0.275, the chart notes that this could be a “fake breakout” and that the move could reverse to the upside. The potential bullish breakout may push the price toward $0.555, driven by broader market conditions.

Drop in Address Activity 

Furthermore, data on Cardano’s address activity presents mixed signals about the network’s future. While new addresses have increased by 2.99% in the past seven days, active addresses have dropped by 3.06%, indicating lower transaction volume and participation. 

ADA Address Activity / IntoTheBlock
ADA Address Activity | IntoTheBlock

At the same time, zero-balance addresses have risen by 3.57%, which suggests that more users may be withdrawing their holdings, possibly due to market uncertainty.

Despite the decline in active users, the increase in new addresses points to continued interest in the network, although it has not yet translated into higher activity. Notably, this combination of falling activity and rising withdrawals is consistent with the overall market downturn.

Cardano Network Development

Amid the price fluctuations, Cardano’s development efforts remain a focal point for the community. In a recent poll conducted by Rick McCracken, a figure in the Cardano community, members voted on two network improvement proposals. 

The majority favored the Leios protocol, receiving 56% of the vote, while only 7% supported the alternative Rust-based node proposal. These improvements aim to enhance the network’s speed, positioning Cardano to better compete with rivals like Solana.

Binance Announces Support for Terra Classic Tax2Gas Network Upgrade

Mark Brennan
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Binance Announces Support for Terra Classic Tax2Gas Network Upgrade

Binance, the world’s largest exchange by trading volume, announces it will support the Terra Classic ecosystem in its planned Tax2Gas upgrade.

Per the announcement, Binance will suspend all deposits and withdrawals pertaining to the Terra Luna Classic (LUNC) token amid the update. The exchange would temporarily halt these transactions by September 18 at 10.15 AM (UTC) to support the upgrade.

The leading exchange also pledged to provide all technical support for its users during the upgrade to enhance a smooth transition. Binance noted it would reopen withdrawals and deposits of the LUNC token on its platform when the Terra network is deemed stable after the upgrade.

Notably, Binance has upheld a culture of supporting tokens listed on its platform during upgrades and hard forks. Its latest effort was evident in the Cardano hard fork on September 1. The Chang upgrade saw the Cardano ecosystem enter the community-governed Voltaire era.

Terra to Debut Automated Tax Calculation

The Wednesday upgrade to v3.1.5 will see the Terra Classic ecosystem switch to an automated tax calculation method. Per Terra’s StakeBin platform, the upgrade will go live at block height 19850000 by 11:27 AM (UTC).

The Tax2Gas upgrade aims to boost the LUNC ecosystem’s tax-handling process. Before now, decentralized application developers manually calculated taxes on the network, leading to several complications.

However, developer Genuine Labs proposed averting this complication by embedding tax calculation with gas fees. This aims to remove the rigorous process of labor-intensive tax calculations for Dapp developers and improve the efficiency and security of the Terra Luna Classic network.

The Genuine Labs proposal was put to voting, and the community fancied the automated tax process. Per Validator Info, the #12120-taged Tax2Gas initiative garnered support from validators and delegates in the network, with almost all participants voting for the idea. Eventually, the proposal passed, and its implementation is set for today.

Terra Classic Ramps up Effort to Boost Ecosystem

The Terra Classic ecosystem has ramped up efforts to revive its ecosystem through initiative implementations. The community is eager to draw positive sentiments and traction to the network.

Following the Tax2Gas proposal, a new initiative has been put up for vote to further bolster the network’s security and efficiency. The community is voting to restore the maximum number of validators in the LUNC ecosystem to 110. A recent SDK update saw developers use an outdated module, which reduced the number of validators.

LUNC remained almost flat hours to the Tax2Gas upgrade. At the time of writing, it was trading at $0.00008213, up less than 1% in the past 24 hours.

Midnight To Launch NIGHT as Cardano Native Token

Sam Wisdom Raphael
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Midnight To Launch NIGHT as Cardano Native Token

Cardano is gearing up for an influx of users following the release of the Midnight Nightpaper, which introduces a new privacy-focused chain.

Notably, the Midnight team released the much-awaited Midnight whitepaper, dubbed the “Nightpaper” yesterday. One of the most notable revelations in the Nightpaper is the upcoming launch of the NIGHT token, which will serve as a Cardano native asset (CNA).

NIGHT Token Utility

As detailed in the Nightpaper, the NIGHT token plays a central role in Midnight’s ecosystem, launching initially as a native asset on Cardano. Unlike most networks where a single token is used for both transactions and rewards, Midnight employs a dual-token system. 

NIGHT serves as the governance token and is unshielded, providing transparency for network participants. It also provides rewards for block producers and supports consensus participation on the network. In addition to its fixed supply, the token will be deflationary.

Paired with NIGHT is a second token, DUST, which acts as the transaction resource on the network. Unlike traditional gas tokens, DUST is shielded, which means that while it enables transaction processing, it conceals user data. 

This is essential for Midnight’s privacy-focused applications, especially in regulated industries like finance, where both transparency and privacy are needed. DUST also decays over time, as its utility focuses more as an energy-like resource rather than a store of value.

Cardano Community Reactions

The release of the Nightpaper has triggered bullish reactions within the Cardano ecosystem, with certain community experts predicting a surge in network activity. 

Philip DiSarro, the CEO of Anastasia Labs, stated that the launch of NIGHT could potentially bring in more users than any dApp previously deployed on Cardano. 

He emphasized that this token, along with Midnight’s privacy-focused infrastructure, could drive more volume to Cardano than all the projects introduced since the network welcomed the Alonzo hard fork.

More from the Nightpaper

Beyond the token utility, the Nightpaper also reveals several important aspects of the Midnight blockchain’s design. Midnight introduces a next-generation architecture focused on safeguarding both user and business metadata. 

It employs zero-knowledge proofs (ZK proofs) to allow organizations to protect sensitive information while still participating in decentralized ecosystems. This ensures that users and businesses can verify transactions without revealing confidential data.

For developers, Midnight simplifies blockchain development by utilizing TypeScript, one of the most popular programming languages. This will help to reduce the complexity of creating smart contracts and integrating blockchain systems. 

Additionally, Midnight supports both layer 1 and layer 2 chains, making it versatile enough to work with existing systems and other blockchain platforms, such as Ethereum and Cardano. 

This interoperability is important for Midnight’s appeal, as it enables businesses to leverage their existing infrastructure while gaining the benefits of data protection and scalability.

Midnight Roadmap

The Midnight Nightpaper also sets out the project’s roadmap. Per the roadmap, the Midnight project is expected to move from the Devnet phase to the Testnet phase. After the successful Testnet, the team will launch the Mainnet.

Cardano Midnight Roadmap
Cardano Midnight Roadmap

Notably, Midnight entered its Devnet phase in November 2023, an essential step in its development. This early testing stage allows developers to explore the platform’s capabilities, particularly its privacy features. 

The project selected over 100 developers, referred to as “Midnight Pioneers,” to participate in the Devnet and build privacy-oriented applications. These applications will be crucial in proving Midnight’s ability to handle sensitive data while maintaining compliance with regulatory frameworks.

The Devnet launch also highlighted Midnight’s role as a sidechain to Cardano, which means it benefits from Cardano’s security and infrastructure while offering a distinct privacy framework.

Here are Returns on $1,000 Invested in Shiba Inu if SHIB Rallies 1,000%, 10,000% or 100,000%

Sam Wisdom Raphael
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Here are Returns on $1,000 Invested in Shiba Inu if SHIB Rallies 1,000%, 10,000% or 100,000%

Shiba Inu investors could see massive returns on a $1,000 investment if SHIB manages to rally 1,000%, 10,000% or 100,000%. 

For context, Shiba Inu rallied by a massive 45,131% in January 2021 alone. A CoinGecko report from last May put some useful context to this rally. According to the report, a $12 investment in SHIB yielded $1 million in 2021, representing an 8,333,233% increase.

Despite Shiba Inu’s drop from its all-time high of $0.00008845 in October 2021, data from market tracker CoinMarketCap suggests that the dog-themed token is currently up 1,028,241% from its opening price in August 2020.

However, over the past few months, Shiba Inu has been in bearish territory with the rest of the crypto market. Nonetheless, this has not impacted investor sentiments. Data indicates that 80% of Shiba Inu community members on CoinMarketCap are bullish on SHIB. 

Shiba Inu Community Sentiments
Shiba Inu Community Sentiments

Notably, multiple analysts have predicted an imminent breakout for SHIB, with one recently pointing to its Bollinger Bands contraction. Meanwhile, trader Dexter suggested that Shiba Inu could be well on its way to reaching the $0.00015 price peak.

Yield on $1,000 if SHIB Rises 1,000%, 10,000%, or 100,000%

Despite the positive sentiments, some have argued that SHIB is not capable of repeating its 2021 rally. However, if Shiba Inu captures only a fraction of this previous uptrend, it could yield significant gains for investors. We recently analyzed how much a $1,000 would yield at varying rates of increase.

Notably, SHIB currently trades for $0.0000138 at the reporting time. At this value, $1,000 invested in Shiba Inu would procure 72,463,768 tokens. Interestingly, a 1,000% increase in price would put Shiba Inu’s price at $0.0001518. This 1,000% rise would bring the $1,000 investment to $11,000.

Meanwhile, if Shiba Inu spikes by a more massive 10,000% rate, its price would rise to $0.001393. Notably, such a rally would take the $1,000 initial investment to $100,999, bringing in a yield of nearly $100,000.

For those looking out for higher gains, a 100,000% rally could yield something much more substantial. For context, if Shiba Inu increases by this 100,000% rate, its price would skyrocket to $0.01381, effectively erasing three leading zeros. At this price, the $1,000 investment would rise to $1,000,999 ($1M), taking it to the millionaire club.

XRP Forms One of the Most Bullish Macro Setups as Williams %R Nears Historic Levels

Sam Wisdom Raphael
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XRP Forms One of the Most Bullish Macro Setups as Williams %R Nears Historic Levels

Market analyst Mikybull suggests XRP is currently displaying one of its most promising technical setups in years.

The chartist disclosed this in a recent analysis on X. According to him, a long-term symmetrical triangle pattern has been forming on the 2-month chart, suggesting a potential breakout. 

This is especially relevant as the prominent momentum indicator Williams Percentage Range (Williams %R) approaches historic levels of overbought conditions. This setup is currently setting the groundwork for a price rally from XRP.

XRP Symmetrical Triangle Patterns

The XRP chart currently features a large symmetrical triangle that has been consolidating since April 2021, when XRP dropped from the $1.96 high. This pattern typically represents market indecision. Notably, breakouts often result in massive price movements.

Data from the chart shows a similar symmetrical triangle that formed from December 2013 to February 2017. When XRP broke out from that triangle, it surged over 60,000%, reaching an all-time high above $3.30. 

XRP Symmetrical Triangle and Williams %R
XRP Symmetrical Triangle and Williams %R

Currently, XRP is trading around the $0.58 region. The pattern suggests a strong upward move is possible from this level. A breakout from the top of the triangle could push XRP back towards its previous all-time highs or beyond, depending on the momentum. 

Williams %R Signals Strengthening Momentum

Meanwhile, the Williams %R indicator is also sending bullish signals. Williams %R tracks a crypto asset’s momentum by measuring how close recent prices of the asset are to their highest point over a period of time.

Notably, with XRP, the Williams %R has peaked only two times since 2014. Interestingly, each peak coincided with massive price rallies, especially the one in 2017 when XRP spiked to $3.3. The indicator is again approaching similar levels. This suggests that XRP could be building momentum for a strong move.

XRP Price Outlook Suggests Potential Breakout?

Given the bullish macro setup, the price outlook for XRP is positive in the long term. Mikybull believes this combination of patterns represents one of the most macro setups in years. If the symmetrical triangle breaks to the upside, XRP could enter another long-term bull run. 

Specifically, a breakout could push XRP towards key resistance levels, such as the $1 mark or even higher. Some technical projections suggest that XRP could see targets as high as $10, depending on broader market conditions.

However, it’s essential to remember that symmetrical triangles can break either way. A downside break could send XRP back towards $0.25 or lower, although such a move seems less likely given the current bullish sentiment in the market and the XRP ecosystem.

USDT Stays Steady, Raboo Bulls Dominate As Matic Falls, POLs Migration Appears To Go Unnoticed

Andrew MacGill
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USDT Stays Steady, Raboo Bulls Dominate As Matic Falls, POLs Migration Appears To Go Unnoticed

Tether (USDT) stays rock-solid, while MATIC’s price struggles as it shifts to Polygon (POL). But all eyes are now on Raboo ($RABT), the newcomer everyone’s buzzing about, with predictions of 100x growth this year. Many are wondering if Raboo will spark the next big bull run.

Investors are jumping in thanks to Raboo’s unique SocialFi system, where you can earn passive income, and its smart, AI-powered platform. With so much excitement building, Raboo is quickly becoming the hot new crypto – read on to find out why!

USDT steady as Tether dives into new ventures

Tether is holding strong, with USDT still dominating the market and a whopping $118 billion market cap. Tether just made a bold move, investing $100 million to grab a 9.8% stake in agricultural company Adecoagro.

Plus, they teamed up with TRON and TRM Labs to create the T3 Financial Crime Unit, which has already frozen over $12 million in USDT tied to fraud. This boosts security and trust in USDT. And to top it off, USDT is now live on the Aptos blockchain, bringing super-low fees and better accessibility.

MATIC slips while POL migration quietly gains momentum: What’s next for Polygon?

Polygon’s big shift from MATIC to POL kicked off on September 4th as part of the Polygon 2.0 roadmap. So far, they’ve swapped 6.5 billion MATIC tokens to POL, hitting almost 65% conversion rate—a major step forward.

POL is taking over as the go-to token for gas fees and staking, offering perks like multi-chain staking to boost security. As MATIC phases out, users have time to adjust, but the price dip has some traders feeling uneasy.

Raboo bulls are taking over: The next big thing in SocialFi

Backed by cutting-edge AI, Raboo combines finance and social media, giving users the chance to cash in on their content through its Post-to-Earn model. Plus, with no buy/sell taxes and a smart contract fully audited by SOLIDProof, investors love what Raboo brings to the table.

What makes Raboo the hot new crypto to rally this bull run?

Its SocialFi ecosystem is where you can stake $RABT tokens and earn passive income just by being part of the community. Meanwhile, the team is hard at work on Rabooscan, an AI tool that’s hitting new milestones.

Raboo’s roadmap is packed with exciting plans, including NFTs, hosting token burn events, and securing listings on top exchanges. These moves are all about driving long-term growth and keeping investors happy.

The ongoing presale, now in Stage 5, has already raked in over $2.4 million and the token price is currently at $0.0057, with a 90% price jump already under its belt. Experts are predicting a jaw-dropping 10,000% surge on launch day. With AI, SocialFi, and a killer roadmap, Raboo could be the winner of the next bull run.

Conclusion

Tether remains stable, while MATIC faces challenges with its transition to POL. However investors are shifting their focus to Raboo, with a price jump of 90%, and two key reasons for this shift are Raboo’s unique SocialFi ecosystem, allowing users to earn passive income, and its strong AI-powered platform.

$RABT has all it takes to be the hot new crypto to 100x!

You can participate in the Raboo presale here.

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September’s Hottest Bitcoin Topics: ETF Growth, Bullish Forecasts, and Fed Impact

Albert Brown
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0
September’s Hottest Bitcoin Topics: ETF Growth, Bullish Forecasts, and Fed Impact

Although the performance of Bitcoin has not been particularly notable this month, there have been some significant discussions about the asset in September.

Pseudonymous X user Rugga recently highlighted a few of this month’s trendy discussions around Bitcoin. Topping his list was the global trend of inflows to Bitcoin ETFs.

He highlighted that over $17 billion has entered the Bitcoin ETF market over the last nine months. According to Rugga, the increasing investments are expected to stabilize Bitcoin’s price, even as volatility persists.

The ETF inflow points to growing confidence in Bitcoin’s future as a digital asset and could act as a buffer against short-term price fluctuations. While the trend of inflows has waned, the overall performance is positive.

As of September 16, the U.S. market saw a daily net inflow of over $12 million despite the $20.8 million drain from Grayscale’s product. This latest inflow for Monday continues the streak of positive flows recorded last week.

Bullish Predictions and Halving Event

Alongside the ETF trend, Bitcoin’s price predictions have become a topic of widespread interest. Rugga pointed out that several analysts now forecast that Bitcoin could reach $130,000 by the end of the year, driven by the halving event in April.

This event traditionally impacts Bitcoin’s price by reducing the supply of new coins. It is seen as a significant catalyst for the projected increase, although there are still less fluctuations months later. 

Industry pundit Mike Alfred recently suggested that when Bitcoin reaches $315,000, the initial purchase price between $56,500 and $58,150 will be insignificant.

He advised investors to focus on accumulating at least 1 Bitcoin, as current prices under $60K will become irrelevant once Bitcoin stabilizes above $300K, offering a potential 5x return.

Influence of U.S. Federal Reserve

Furthermore, economic factors are also expected to play a role in Bitcoin’s trajectory. Per Rugga, the U.S. Federal Reserve’s monetary policy, particularly the potential for interest rate cuts, may push more investors toward high-risk assets like Bitcoin. 

This possible policy shift could align with Bitcoin’s cyclical trends, which have historically mirrored changes in the global money supply. Analysts, including Dennis Liu, have drawn parallels between today’s market conditions and previous bull cycles in 2017 and 2021, which coincided with global money supply expansions.

Ultimately, if economic stabilization occurs following rate cuts, experts forecast Bitcoin reaching $100,000 by 2024 or 2025, with some projections suggesting a high of $200,000 by 2025. Additionally, longer-term predictions indicate that Bitcoin could become a reserve currency within the next decade.

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