$69,000 For Bitcoin: The Ultimate Signal Of The Imminent Explosion?

In recent months, Bitcoin has been on a roller coaster ride. One day at $64,000, the next at $68,000, then a sudden drop: a real financial merry-go-round. Recently, the leading crypto once again crossed the $69,000 mark, leaving speculators and investors with a sense of déjà vu. But this time, BTC seems to have found some stability above $68,000, raising the question: will the euphoria last?

Bitcoin at $69K: Towards new heights or another plunge?

Last Sunday, the Bitcoin price reached an intraday peak of $69,363, recording a 9.3% rise over a week and 63% since the beginning of the year. However, the situation was not free from turbulence. 

The derivatives market saw $117.7 million liquidated, primarily on other cryptos like apecoin and ethereum, which suffered heavier losses. 

While BTC crossed $69,000 on most exchanges, it stagnated at $68,809 in South Korea, an intriguing discrepancy.

• Annual growth: +132% over 12 months;
• Market capitalization: 1.35 trillion dollars;
• Global trading volume: 71.30 billion dollars.

Despite these impressive figures, some analysts remain skeptical about the sustainability of this rise. “This might not be the time for the major correction, but caution is the mother of safety,” warns an expert.

The crypto market remains tense

As BTC continues to eclipse ethereum with a $1 trillion lead in market cap, speculation on a new “alt season” is rife. The market remains uncertain, but Bitcoin advocates see unlimited potential. 

#Bitcoin now has a $1 Trillion market cap lead over Ethereum, a new ATH for the spread. pic.twitter.com/PmcKvtQbfQ

— _Checkmate 🟠🔑⚡☢️🛢️ (@_Checkmatey_) October 19, 2024

According to an analyst, BTC has not yet shown signs of overheating, a statement that reassures the most fervent “hodlers.” 

Other influential figures, such as Fred Krueger, envision a stratospheric future for BTC, predicting a market cap of $100 trillion by 2040. Meanwhile, Bitcoin ranks tenth in the world’s largest market capitalizations, just behind Meta, with gold far ahead at 18.38 trillion.

Thus, between hope and caution, the crypto market remains captivating.

Bitcoin never fails to remind us of its true nature: an infernal roller coaster. However, in Michael Saylor’s latest prophecy, the leading crypto would be worth $13 million in 2045.