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Dec
22, 2023 12:23
Cryptorally is gaining momentum, and analysts are predicting Bitcoin to reach $160,000 after the launch of the ETF.
The current bull cycle has already propelled the total market capitalization of digital assets beyond the $1.7 trillion mark. Most major coins are appreciating in value.
Over the past 24 hours, Avalanche (+7.8%) and Solana (+15%) have seen the most significant increases. The latter has managed to surpass XRP and claim the fifth spot in the rankings, reaching its two-year high.
Bitcoin quotes have reached $44,200 at the moment. Over the last 24 hours, the asset has appreciated by 3.2%. The dominance index of the first cryptocurrency is 53.8%, with a market capitalization of $862 billion.
Several experts are already forecasting a rise in Bitcoin to $54,000 in early 2024 and $160,000 after the halving. The spot ETF based on the first cryptocurrency is expected to launch in January, further fueling positive expectations.
The key driving factors behind the current market growth, according to Henbbo analysts, include:
Increase in on-chain activity;
Reduction in the reward for mined Bitcoin blocks;
Macroeconomic outlook;
Expectations for a spot Bitcoin ETF;
Increase in liquidity of stablecoins.
Henbbo encourages all its investors to increase activity, engage in more staking, and gain even more profit. Currently, this not only allows you to earn additional income but also personally supports the positive market trend.
Henbbo – Smart investments will change your life!
