Riding The Wave News Summary 221

Peter Brandt Drops Epic Bitcoin Price Prediction, Shiba Inu Erases Zero, Dogecoin Scores New Listing on Major Japanese Exchange: Crypto News Digest by U.Today, & more.

Feb 29, 2024

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Peter Brandt Drops Epic Bitcoin Price Prediction, Shiba Inu Erases Zero, Dogecoin Scores New Listing on Major Japanese Exchange: Crypto News Digest by U.Today

Following Bitcoin's recent remarkable surge, veteran trader Peter Brandt took to X platform to offer his view on the future trajectory of Bitcoin's value. Per Brandt's analysis, there is a possibility that by the end of the current bull market cycle, which is expected around August or September 2025, the BTC price could hit the $200,000 level. However, the trader warns that a closure below the $50,521 threshold could nullify this optimistic projection, highlighting the significance of sustained momentum to achieve such ambitious goals.

Full Article

JPMorgan Says Bitcoin Halving and Ethereum Upgrade 'Are Largely Priced In'

Global investment bank JPMorgan Chase has provided its insights into three key catalysts it believes will drive cryptocurrency prices in the coming months. The firm also pointed to a resurgence of retail investor interest in crypto as the driver behind the recent surge in popular cryptocurrencies like bitcoin (BTC) and ether (ETH).
The JPMorgan team, led by global market strategist Nikolaos Panigirtzoglou, explained that on-chain data, adjusted for new spot bitcoin exchange-traded funds (ETFs), shows retail investor activity (small wallets) significantly outpacing institutional flows.
“The revival of the retail impulse in February perhaps reflects the anticipation of three main crypto catalysts over the coming months: the Bitcoin halving event, the next major upgrade of the Ethereum network, and the prospect of approval of spot ethereum ETFs by the SEC in May,” the JPMorgan strategists wrote, adding:

The JPMorgan analysts further pointed to recent reports from Block Inc., Paypal Inc., and Robinhood Markets Inc. showing net positive bitcoin purchases by their customers in Q4 2023, a significant turnaround from Q3’s sales. This surge in retail activity coincides with Coinbase, a major U.S. crypto exchange, reporting record quarterly bitcoin trading volume in two years. Additionally, the analysts observed a rise in investment activity in AI and meme tokens, which are popular choices among retail crypto traders.

Full Article

Bitcoin surges to top $60,000, putting it within striking distance of all-time high

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