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Can hope float Bitcoin to $65,000? 🛟

Can hope float Bitcoin to $65,000? 🛟

Analysts have said it'll bode well for Bitcoin if it can surpass its August high

Stacy Elliott
September 25, 2024

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📝 What you need to know

It certainly looks like traders are feeling hesitant. Bitcoin approached $65,000 very early this morning and has been slowly receding since then. But Standard Chartered’s Geoffrey Kendrick said there’s still lots of optimism in markets.

Ten-year U.S. treasury bonds are currently paying yields 0.21% more than their 2-year counterparts, he wrote in a note today—a sign investors are feeling optimistic about economic growth.

“This rapid pace of accumulation suggests more than just higher prices—there’s a belief that broader market conditions are favoring Bitcoin, especially after VP Harris’ comments encouraging the crypto industry,” Kendrick wrote.

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💬 Quote of the Day

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“Investors are optimistic for market growth targeting $65,000 for Bitcoin, $2,700 for Ethereum, and $650 for Binance Coin. This bullish trend and growth can attract new investors or traders.”

Avinash Shekhar, Co-founder and CEO of Pi42

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