Bitcoin Price Prediction Today, 2023-2030
Latest Bitcoin Price
|Metric||Last 24 Hours||Trend|
|Net Social Media Sentiment||44.7%||Steady|
Article Coverage: Macro Summary, Latest Bitcoin News, Bitcoin Price Prediction Today, Bitcoin Price Prediction 2023-2030, Is Bitcoin a Good Investment, Bitcoin Risks, FAQs
Bitcoin Price Forecast: Latest Macro Data
- Dollar Index – DXY has been trending higher for 2 months in a row. [Negative for BTC]
- Crude Oil Price – Crude Oil Price has been trending higher for a month now [Negative for BTC]
Macro Summary: Negative for BTC.
Bitcoin vs. Ethereum, Performance Comparison
- Last 3 Months:-14.2%, Outperformer
- Last 1 Year: BTC +39.1%, Outperformer
- Last 5 Years: BTC +296.0%, Underperformer
Latest Bitcoin News and Market Analysis
- The North Korean hacking group known as Lazarus has amassed approximately $47 million in cryptocurrencies, with Bitcoin accounting for approximately $42.5 million of this total. This information has been disclosed by 21.co, the parent company of 21 shares.
- Bitcoin analyst Willy Woo has raised concerns about the increasing dominance of “paper” Bitcoin (BTC derivatives) over actual liquid Bitcoin. Woo revealed that there’s now a 20-30% higher trade of these derivatives, which impacts Bitcoin’s bullish trends. He believes this surge in Bitcoin derivatives is siphoning liquidity from Bitcoin, allowing for price manipulation. Woo highlights that since the introduction of futures markets, Bitcoin’s significant bull runs have dwindled.
- Analyst Credible Crypto highlighted a sustained accumulation trend, suggesting that the market isn’t primed for a significant move just yet. The analyst commented on the ongoing accumulation and projected a possible momentum shift in the upcoming days, hinting at potential market movements to watch out for.
Bitcoin ETF Approval News
- Mark Yusko, CEO and Chief Investment Officer of Morgan Creek Capital Management believes a spot Bitcoin ETF approval by the SEC could pave the way for an influx of $300 billion into the Bitcoin market.
- Arca Chief Investment Officer Jeff Dorman called BlackRock’s filing ‘much more important’ than the other prospective offerings. Dorman added, ‘If BlackRock has an ETF, you know that they are going to win. They have the marketing and distribution to put new people into Bitcoin.’
Bitcoin Buy or Sell? Crowd Poll
Net Buy Rating = Buy% – Sell%
- July 1st: -2.4%
- August 1st: +30.8%
- September 1st: 0.0%