Bitcoin, along with the broader Ethereum, XRP and crypto markets, has soared in the last year (with some predicting “an even bigger Wall Street wave to come”).
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While the price of Bitcoin has exceeded $60,000 per Bitcoin, making it a $1 trillion asset once again, the combined size of Ethereum, XRP, and the crypto market is well over $2 trillion, making it a “large This raises serious warnings about “collateral damage.”
Now, as new emails reveal “startling” clues about the identity of mysterious Bitcoin creator Satoshi Nakamoto, Bank of America BAC analysts say the U.S. debt burden will reach 100 days. He warned that the Bitcoin price is about to increase by $1 trillion per year and fuel the soaring price of Bitcoin.
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“The U.S. national debt is increasing by $1 trillion every 100 days,” Bank of America chief strategist Michael Hartnett wrote in a note to clients. CNBCadded, “No wonder we're seeing a 'debt write-off' trade, meaning gold is nearing all-time highs.” [at] $2077/oz [and] Bitcoin [at] $67,734. ”
Hartnett predicted that the newly minted Spot Bitcoin exchange-traded fund (ETF), which took Wall Street by storm last month, is headed for a “blowout year,” thanks in part to the collapse of the U.S. dollar.
BlackRock's BLKBLK IBIT, the largest new spot Bitcoin ETF, surpassed $10 billion in assets under management this week, while Fidelity's FBTC has raised $6 billion since its debut in early January, marking Bitcoin's so-called “IPO moment.” pushed up the price of Bitcoin. ”
Flows into new spot Bitcoin ETFs have suddenly accelerated over the past two weeks, fueling wild predictions that Bitcoin could “take the gold crown” as the world’s “primary store of value.”
U.S. government debt has surged in recent years in the wake of the coronavirus and lockdown stimulus measures, surpassing the $34 trillion level in early 2024, but this is the same as last year's Bitcoin price per Bitcoin. It sparked wild predictions that it could soar to $1 million.
“This is not a good way to end,” said Genevieve Roche Decter, a former asset manager and author of the newsletter Grit Capital. Posted To X.
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JPMorgan CEO Jamie Dimon predicts soaring U.S. debt could spark a global “rebellion”, Bank of America CEO Brian Mr. Monyhan described the mounting national debt as “the most predictable crisis ever.”
In February, legendary investor Jim Rogers warned that the massive $34 trillion US debt mountain means the impending recession “will be the worst this year.” [his] “For Life” after Federal Reserve Chairman Jerome Powell sparked a $3.3 trillion price boom in the crypto market.
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