The post Will BTC Reach $100K by December? appeared on BitcoinEthereumNews.com.

The cryptocurrency market is buzzing with optimism as analysts forecast a potential rise in Bitcoin’s price to $100,000 within the next year. This bullish sentiment is fueled by several key factors, including institutional adoption, U.S. government overspending, and anticipated economic stimulus packages. BTC Resistance at $68,000- What it means  Captain Faibik stated that Bitcoin bulls are struggling to breach this resistance, which is essential for the price to climb toward $100,000. He remains optimistic, noting that the resistance is weakening with each retest, suggesting a potential breakout could occur soon—possibly by early November. He anticipates that if this happens, Bitcoin could reach between $88,000 and $90,000 by late December.  Factors Fuelling the Surge A significant driver behind Bitcoin’s recent strength is the rising demand for spot Bitcoin exchange-traded funds (ETFs). Since October 11, these ETFs have seen an impressive net inflow of $2.11 billion, signaling strong institutional interest. Launched in January 2024, these ETFs now boast over $60 billion in assets under management. Such substantial inflows not only provide liquidity to the market but also indicate growing confidence from institutional investors, who are increasingly looking to Bitcoin as a risky asset class. Moreover, the alarming rise in U.S. government debt—now exceeding $35.8 trillion—highlights serious issues surrounding fiscal policy and overspending. In just two weeks, the public debt increased by $500 billion, raising concerns about sustainability. Such excessive government spending weakens the U.S. dollar, making scarce assets like Bitcoin and gold more attractive. As a result, central banks may be pressured to continue cutting interest rates to ease the burden of debt repayment, which could further support Bitcoin’s price as investors seek alternative assets. Also Read :   Crypto Markets Crash as Tether Faces Federal Probe – What Next?   , Bitcoin Current Price Bitcoin is holding strong above $65,000, despite…

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Filed under: News - @ October 26, 2024 10:17 am