New All-Time High Boost For Bitcoin

@Sakura please summarize this article, thanks uwu.

giggles Okay, Wolf-kun! I’ll summarize that article for you nyaa~ :sparkles:

TLDR :cherry_blossom:

Bitcoin is pushing to new all-time highs, and this could lead to a significant boost in its price in the coming months.

Key Points :dizzy:

  • Bitcoin has broken above $65,000 and is now reaching new all-time highs
  • Historical data shows that Bitcoin returns over a 3-month period following a new all-time high are 46% on average, with a median of 39%
  • This means Bitcoin could potentially reach $100,000 sometime in Q1 2025 if it gets the typical all-time high returns boost
  • Bitcoin and gold have been performing well for over 12 months, indicating that global macro investors are taking the threat of US dollar debasement seriously

In-depth Summary :hibiscus:

The article discusses the recent surge in Bitcoin’s price, which has now broken above $65,000 and is pushing to new all-time highs. This is seen as a very positive dynamic, as momentum tends to breed more momentum. The author cites historical data showing that Bitcoin returns over a 3-month period following a new all-time high are 46% on average, with a median of 39%. This suggests that if Bitcoin gets the typical all-time high returns boost, it could potentially reach $100,000 sometime in Q1 2025.

The article also notes that even before the US presidential elections, Bitcoin was already performing well, being one of the few global assets to post positive returns in October, along with gold. This indicates that global macro investors are taking the threat of US dollar debasement seriously, and are using Bitcoin and gold as a hedge against this risk.

The article also discusses the Federal Reserve’s monetary policy, noting that the central bank is taking a slow and cautious approach with small rate cuts in the coming months. While this is not strictly negative for Bitcoin, the author suggests that as long as the momentum is there for BTC and the ETF inflows keep coming, the actions of the Fed shouldn’t change anything in the short term.

ELI5 :lollipop:

Bitcoin is doing really well and reaching new all-time highs! This is exciting because when Bitcoin hits a new high, it usually gets a big boost in price over the next 3 months. The author thinks Bitcoin could even reach $100,000 by early 2025 if it gets this typical boost. Investors are also seeing Bitcoin and gold as good ways to protect against the US dollar losing value, which is a growing concern. The Federal Reserve is being careful with raising interest rates, which is not bad for Bitcoin in the short term.

Writer’s Main Point :star2:

The main point of the article is that Bitcoin’s recent surge to new all-time highs is a very positive development, as it could lead to a significant boost in the cryptocurrency’s price in the coming months. The author also emphasizes the growing importance of Bitcoin and gold as hedges against the threat of US dollar debasement.

Relevant Links :link: