ADVERTISEMENT
TechEconomy
Wednesday, June 4, 2025
No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Podcast

Home » Bitcoin Price Forecast to Reach $100,000 by November

Bitcoin Price Forecast to Reach $100,000 by November

Adetunji Tobi by Adetunji Tobi
July 4, 2024
in Finance
0
Bitcoin Price Forecast
Bitcoin

Bitcoin

RelatedPosts

Naira vs Dollar | Asset management

Naira Appreciates to N1,579/$1 as Market Confidence Grows

June 4, 2025

Tony Elumelu Buys N43.9bn Worth of UBA Shares to Boost Stake

June 3, 2025

 

A Standard Chartered’s forecast has projected that Bitcoin may reach $100,000 by the time of the U.S. presidential election in November and set a record in August.

The bank maintains year-end and 2025 predictions of $150,000 and $200,000, respectively. But predicts a Trump victory will drive up the price of Bitcoin.

The market believes that President Joe Biden’s continued participation in the presidential race will increase the likelihood that former President Donald Trump will be elected to a second term, which is the basis for the analyst’s forecast.

It’s conceivable that Bitcoin will reach a new peak in August and reach $100,000 by the day of the US election.

This is good news for Bitcoin since a Trump victory could result in legislation that benefits the cryptocurrency industry.

The British bank thinks that a Trump victory would result in a regulatory framework that encourages the expansion of digital assets.

Additionally, Standard Chartered released forecasts for other outcomes, such as different presidential elections.

According to the bank, the “least likely” possibility is for Biden to withdraw from the race before the end of July, in which case Bitcoin might fall to $50,000–$55,000.

Meanwhile, the early morning trading session saw a 3% loss in Bitcoin price before it partially recovered to trade at $58.8K during the Asian trading session.

Other altcoins that plummeted included Solana and Dogecoin, the meme-crowd favorite.

Selling pressure intensified as Mt. Gox gradually returned more than 137,000 Bitcoin to creditors. Investors are unsure how much of the $8 billion haul will be sold, and they are also assessing the possibility that the US and other authorities may dispose of Bitcoin that has been seized.

In the last 24 hours, 100,565 traders were liquidated, with a total liquidation value of $261.98 million. The largest liquidation order, valued at $4 million, was placed on OKX – ETH-USD-SWAP. The value of the worldwide cryptocurrency market has dropped by 3.62% over the past day to $2.17 trillion.

Global investors also speculate about potential outcomes if 81-year-old President Joe Biden gives in to pressure to withdraw his candidacy for US reelection

The Bitcoin miners show symptoms of capitulation following a poor week for the largest cryptocurrency in the world, typically indicative of a market bottom.

Bitcoin is trying to maintain its current $58.8K price. It has been climbing gradually since it hit this level and is now back above the $60,000 mark.

Data provider CryptoQuant believes that given the numerous signs suggesting capitulation following a period of intense sell pressure, this will likely occur again shortly.

Both hash rate and mining revenue by hash (hash price) have significantly decreased this month; the hash rate has decreased by 7.7% since the halving, at a time when the hash price was practically at an all-time low. These decreases are a sign of miner capitulation.

Consequently, the so-called halving that occurred in April, which reduced the number of new tokens that operators receive in exchange for their labor, is still having a negative financial impact on the owners of the power-hungry computers that support the Bitcoin blockchain. Selling some of their token stock is one way that these Bitcoin miners are responding.

 

 

 

 

 

Loading

Advertisements
MTN ADS

Author

  • Adetunji Tobi
    Adetunji Tobi

    Tobi Adetunji is a Business Reporter with Techeconomy. Contact: adetunji.tobi@techeconomy.ng

    View all posts
0Shares
Previous Post

Jeff Bezos to Sell $5 Billion Worth of Amazon Shares Following Stock Surge

Next Post

NOVA Bank Begins Commercial Banking Operations, Launches “PHYGITAL

Adetunji Tobi

Adetunji Tobi

Tobi Adetunji is a Business Reporter with Techeconomy. Contact: adetunji.tobi@techeconomy.ng

Related Posts

Naira vs Dollar | Asset management
Finance

Naira Appreciates to N1,579/$1 as Market Confidence Grows

by Latifat Fashina
June 4, 2025
0

The naira appreciated in the official market on Tuesday, closing at N1,579/$1, up from the last close of N1,582/$1. The...

Read more
Tony Elumelu, chairman of UBA

Tony Elumelu Buys N43.9bn Worth of UBA Shares to Boost Stake

June 3, 2025
NairaWatch, Naira and dollar

Naira Appreciates, Closes at N1,582/$1 in Official Market

June 3, 2025
Agentforce for financial services by Salesforce

Salesforce Introduces Agentforce for Financial Services to Address Shrinking Workforces

June 2, 2025
Segun Alebiosu, CEO, FirstBank China-Africa Interbank Association | FirstBank Agent Credit

FirstBank Disburses N1billion in One Day via Agent Credit Scheme

June 2, 2025
America Debt - IMF

Can AI Save America from its Debt Spiral

May 31, 2025
Next Post
NOVA Bank Begins Commercial Banking

NOVA Bank Begins Commercial Banking Operations, Launches “PHYGITAL

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Techeconomy Podcast

Techeconomy Podcast
Techeconomy Podcast

Infowave is brought to you by TechEconomy. Every week we will bring new stories from startups and influencers who are shaping and changing the world we live in. We’ll also bring you reports on topics you should know.

Follow us @techeconomyng for more.

TECH TALK EPISODE 2
byTecheconomy

PRODUCTIVITY AND WORK-Life Balance

TECH TALK EPISODE 2
TECH TALK EPISODE 2
May 22, 2025
Techeconomy
CYBERSECURITY ESSENTIALS
April 24, 2025
Techeconomy
Digital Marketing Trends and strategies for 2025 and beyond
February 27, 2025
Techeconomy
Major Lesson for Techies in 2024 and Projections for 2025
December 6, 2024
Techeconomy
Major Lessons for Techies in an AI-Driven World | Techeconomy Business Series Highlights
November 26, 2024
Techeconomy
Maximizing Profitability Through Seasonal Sales: Strategies For Success
November 8, 2024
Techeconomy
Techeconomy Business Series
October 15, 2024
Techeconomy
PRIVACY IN THE ERA OF AI: GETTING YOUR BUSINESS READY
May 30, 2024
Techeconomy
Unravel the Secrets of Marketing Everywhere All At Once with Isaac Akanni from Infobip | Infowave Podcast Episode 1
February 9, 2024
Techeconomy
The Role of Ed-tech in Life Long Learning and Continuous Education
October 19, 2023
Techeconomy
Search Results placeholder

WHAT IS TRENDING

https://www.youtube.com/watch?v=g_MCUwS2woc&list=PL6bbK-xx1KbIgX-IzYdqISXq1pUsuA4dz

Follow Us

  • About Us
  • Contact Us
  • Careers
  • Privacy Policy

© 2025 Techeconomy - Designed by Opimedia.

No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS

© 2025 Techeconomy - Designed by Opimedia.

Translate »
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.