Bitcoin (BTC) and altcoin have experienced significant volatility. Now, Bitcoin has hit a new record, reaching over $124,400.
While BTC is hit with a new ATH, Ethereum (ETH) is on the crisis of a new ATH. ETH reached $4,780, the highest level since the end of 2021.
Analysts say the rise in Bitcoin is due to increased demand for businesses and increased expectations that the Fed will cut interest rates in September.
Bitcoin could reach $150,000!
While general market gains are expected to continue, IG market analyst Tony Sycamore said the rise is supported by institutional demand and the Fed, and the Trump administration’s move will encourage cryptocurrency investments.
“Technically, a sustained gathering of over $125,000 could push BTC to $150,000.”
The rise could last until the end of the year!
Rachael Lucas, a BTC Markets Crypto analyst, spoke to the block and said that Rachael Lucas was also fueled by the same catalyst. She added that she hopes Bitcoin will remain upwardly strong until the end of the year.
Bitcoin prices are rising due to growing demand for facilities and spot ETFs. We expect a sustained upward trend for the remainder of the year.
The combination of supply shortages and strong structural demand will support further growth by the end of the year. ”
Lucas added that Bitcoin will remain upwardly momentum for the rest of the year, but will experience a consolidation period in the $120,000 to $125,000 range.
*This is not investment advice.
