How Bitcoin Price, Altcoins Will Gain from $278 Billion Likely Inflow
The post How Bitcoin Price, Altcoins Will Gain from $278 Billion Likely Inflow appeared on BitcoinEthereumNews.com.
Liquidity is projected to surge into the crypto market in the fourth quarter of the year, creating a favorable environment for a potential parabolic rally in both Bitcoin (BTC) and altcoins. This influx of capital could drive prices higher as investors look to capitalize on the anticipated momentum. Today, Bitcoin’s price surged past $65,000, marking a significant milestone. However, according to a recent report, this rise is just the beginning of a potentially massive price boom. The anticipated surge is likely fueled by the return of retail investors and an influx of billions of dollars from the Chinese market. More Capital Means More Upside for Bitcoin, Alts Bitcoin’s recent jump could be attributed to the 50 basis point Fed rate Cut earlier this month. However, the number one cryptocurrency is not the only asset benefiting from the decision. Since the rate cut, altcoins, which endured a prolonged downtrend for the last two quarters, have now enjoyed significant rallies. Despite the improved market condition, 10x Research, led by analyst Markus Thielen, believes the recent gains are nothing compared to what’s coming in Q4. “Altcoins are exploding. Further upside appears likely as stablecoin minting accelerates and Chinese OTC brokers report billions in inflows. With Bitcoin breaking above $65,000, we anticipate a swift move toward $70,000, followed by new all-time highs in the near term,” Thielen said in the September 26 report. While Bitcoin’s dominance has fallen, the total market cap of altcoins has increased by 15% since September 17. Altcoins Market Cap. Source: TradingView However, the recent decline in BTC’s dominance does not mean that the coin price will continue to decrease. In 10x Research’s report, Theieln mentioned that Bitcoin could gain from a fresh $278 billion capital injection from the Chinese market in Q4. “The $278 billion Chinese stimulus plan could…
Filed under: News - @ September 27, 2024 9:22 pm