Altcoin News Official TheBitTimes.com

Bitcoin (BTC) has once again failed to breach the $70,000 resistance zone, exhibiting volatility in the last 24 hours, with the crypto dropping to below $67,000 at some point. Indeed, Bitcoin failed to capitalize on Republican presidential nominee Donald Trump’s bullish sentiments about incorporating the crypto into the United States Treasury. Despite Bitcoin’s short-term price volatility, analysts maintain that the maiden crypto is destined for a new all-time high. Particularly, in an X post on July 27, analyst apsk32 indicated that Bitcoin’s historical price movement models have a target of about $200,000. Picks for you ChatGPT-4o weighs in on BlackRock’s ‘only 2 cryptocurrencies worth buying’ 1 hour ago Opportunity: Ana...

Currently, a 74% increase takes Bitcoin to over $59,000 and that doesn’t factor in “second-order effects,” says Galaxy Digital. Bitcoin’s (BTC) price will increase 74.1% in the first year after spot Bitcoin exchange-traded funds (ETFs) are launch ed in the United States, according to estimates from crypto investment firm Galaxy Digital. In an Oct. 24 blog post, Galaxy Digital research associate Charles Yu estimated the total addressable market size for Bitcoin ETFs would be $14.4 trillion in the first year after launch . He obtained the 74% figure by assessing the potential price impact of fund inflows to Bitcoin ETF products using gold ETFs as a baseline. According to Yu’s estimates, Bitcoin’s price would increase 6.2% in the first month after an ETF launch before steadily trending downward to a 3.7% monthly increase by month 12. Spot Bitcoin ETF estimated one-year inflows by month and Bitcoin price impact. Source: Galaxy Digital Research Yu used Bitcoin price data from Sept. 30, ...