According to Sean Farrell, the head of Digital Asset Strategy at Fundstrat, BTC has the possibility of hitting $115k by the end of 2024. Among the factors that Farrell holds are reasons for why this will be the case include historical analysis of BTC, existing market dynamics, and influx of stable coins in the market. The influx of stable coins, especially, is perceived as an indicator of incoming flow of capital into the wider crypto market. Those in cryptos, what are your thoughts on Farrell's analysis and optimism? (Article source).
That would be lovely.
Who knows eh!
Today, BTC is valued at over $58,000. It seems like a giant leap to me to hit $115k by the end of the year. Of course, this is impossible to predict for us mortals 🤣 I understand how the increased interest in stable coins would drive more people to the crypto markets but I can't see how people looking for stable coins are suddenly going to change their mind and buy volatile BTC.
Surely, they want to invest in stable coins to avoid the volatility of coins like BTC?
Farrell’s prediction is interesting, especially with the influx of stablecoins hinting at more capital coming in. But BTC predictions can be so unpredictable, right? Historical trends and market dynamics are solid points, but crypto can flip the script overnight.
@graham Yeah, it does feel like a huge jump from $58k to $115k! I get what you’re saying...
Bold claim, $115k isn’t impossible, but it’s a gamble on market sentiment, whale moves, and some luck. Remember, BTC predictions are often more hype than reality.
@graham Same I can't believe in such a huge jump considering our economy and market stability right now. This seems like a huge bluff right now to be fair
@graham hehe. I thought it was an overly confident prediction by Farell but who knows. Also the idea of investing in stable coins to influence BTC? That's I don't know how to put it but I don't see how that would cause BTC to go up?!
@abaes I remember in March it shot up to $70k. Maybe it could reach $100k but who knows.
@adtya true true. A lot other factors are at play. And especially whale moves like you mentioned. Those cause the biggest ripples in the market.
@kayden48 hehe. A huge bluff. Honestly like you said, taking into account the current economic situation, reaching $115k is a wild prediction.
@Graham Bowall I totally get what you are saying. I mean to say that its going to touch 115k is definitely a big strech and i am quite specktical about it But with BTC, YOu never know man its always a rollercoaster.
@Arnie B Exactly. I mean we have already saw how many times BTC predictions have fliped on its head fully flat. However I am curious though if we are actually gonna se a influx of capital via stablecoins , do you think eventually all the capital will flow into BTC?
@Adtya Couldnt agree more. It is all about the public sentiments & hype and the whale manipulation. Its feel like all a retail trader can do is to just ride along. There is also a good chance of whale driven rally .
@Kayden48 yeah man, its actually very far fetched and hard to imagine such a big pump,especially in our current economic situation. Hey but if its happens its not going to be the first time BTC has defied the expectations and the norms. What do you think will be actual closing price for it ?
