Bitcoin Price Prediction as Total Crypto Market Cap Reaches $1.5 Trillion – Is $40,000 the Next Target for BTC?
In the ever-evolving landscape of digital currencies, Bitcoin showcases a bullish stride, currently trading at $38,765 with a commendable increase of nearly 2% on Saturday. As December unfolds, the cryptocurrency market radiates optimism, with Bitcoin edging towards a 19-month peak, reflecting a robust commencement for crypto stocks.
In a significant geopolitical shift, President Petro of Colombia receives Bitcoin amidst the nation’s exploratory moves to embrace the cryptocurrency. Adding to the fervor, Mike Novogratz’s bullish stance on Bitcoin amplifies the sentiment, as the total crypto market cap touches a staggering $1.5 trillion.
Investors are now keenly eyeing the $40,000 mark, speculating whether it’s the next milestone for Bitcoin’s upward journey.
As the world’s largest cryptocurrency hits a nearly 19-month high at $38,765, shares of cryptocurrency miners and related companies have surged, reflecting a buoyant market sentiment.
The current uptick, boasting a 1.6% increase for the day, is fueled by the anticipation of a potential approval for a spot exchange-traded fund (ETF), a move seen as a catalyst for further capital inflows into the digital asset sector.
Notably, Bitcoin miners Riot Platforms, Marathon Digital, and TeraWulf have enjoyed gains between 1.7% and 4%. J.P. Morgan has raised price targets for several mining firms, acknowledging the boost from Bitcoin’s surge.
Crypto stocks set to start December on a high note as bitcoin hits near 19-month high https://t.co/bQcE7qphGU pic.twitter.com/otx2O4bZtT
— CNA (@ChannelNewsAsia) December 1, 2023
The rise in cryptocurrency prices, expected to drive transaction volumes and revenue, has propelled Coinbase shares up by 2.5%. Caution remains prudent amidst potential
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