Bitcoin Price Prediction as BTC Blasts Up Above $62,000 – New Rally Starting?
Bitcoin (BTC), the world’s most valuable cryptocurrency, began the new week with significant bullish momentum, surging past the $62,000 mark. This recent uptick in BTC’s price has reignited interest in Bitcoin price predictions.
The market’s optimism is fueled by several factors, including speculation around an alleged assassination attempt on pro-crypto US presidential candidate Donald Trump, which has seemingly boosted his election odds to 70%.
Additionally, Germany’s completion of its Bitcoin sale and rising expectations of a Federal Reserve interest rate cut in September have further bolstered BTC’s value.
As investor sentiment improves, the global cryptocurrency market cap has risen to $2.29 trillion, reflecting a 3.80% increase in the past 24 hours.
Global cryptocurrency trading volume is projected to exceed $108 trillion by the end of 2024, a 90% increase from 2022, according to a study by CoinWire. Europe is expected to lead this growth, accounting for 37% of the market with transactions anticipated to reach $40.5 trillion. This increase is driven by advancing regulatory frameworks such as the Markets in Crypto-Assets (MiCA) regulation.
In addition, Asia is set to capture 36% of the market share, with a projected volume exceeding $39.3 trillion, bolstered by significant contributions from China and Japan. Other regions like Africa, South America, and North America also show robust growth, highlighting the rising global interest in digital assets.
Key Points:
This anticipated surge in global cryptocurrency trading volume reflects a positive market sentiment, likely supporting upward movements in Bitcoin and Ethereum prices.
Spot Bitcoin ETFs in the US have sparked significant interest since their launch, with total net
