Bitcoin Price Prediction: BTC Surges to $67,000 on Marathon Digital’s $100M Purchase
Bitcoin (BTC), the leading cryptocurrency, has halted its recent bearish trend, regaining bullish traction and trading above the $67,000 level. This positive momentum has driven Bitcoin to an intraday high of $67,340.
The strong price movement reflects growing market interest and bullish sentiment, further supported by a 5% increase in the last 24 hours.
Marathon Digital Holdings (MARA) recently bought $100 million worth of Bitcoin and decided to keep it all without selling.
This shows that they are confident about Bitcoin’s future, even though they are facing a $139 million legal fine related to a former executive’s confidential growth plan.
CEO Fred Thiel believes Bitcoin is a great long-term investment.
Bull signal
Marathon Digital $MARA one of the largest Bitcoin miners, has purchased $100 million worth of Bitcoin and plans to hold all mined Bitcoin on its balance sheet.
They now hold over 20,000 BTC, worth nearly $1.3 billion, and plan to buy more. This move reflects their… pic.twitter.com/utC9RWN1tj
— Sam O'Leary (@samjoleary) July 25, 2024
The company’s announcement comes just before a major Bitcoin conference, emphasizing their strong commitment to Bitcoin’s potential and their belief in its value over time.
Hence, Marathon Digital’s $100 million Bitcoin purchase and HODL strategy bolster BTC price by signaling strong institutional confidence and increased demand, while the legal fine highlights potential risks in corporate dealings.
On the other side, a crypto analyst named Trader Tardigrade has predicted that Bitcoin could surge to $263,000 if it meets specific conditions.
He points out that Bitcoin’s price chart is forming a “Cup with Handle” pattern, which historically signals a buying opportunity. For this prediction
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