In the past 24 hours, Bitcoin has decreased by approximately 2 percent. While stock markets are trading much stronger and overall confidence is returning to the financial sector, the situation for Bitcoin and similar cryptocurrencies is less positive, with moderate weekly losses observed. The anticipated significant price surge and breakout has yet to happen, with Bitcoin currently trading around 58,000 US dollars. However, macroeconomic developments could potentially propel Bitcoin above 100,000 US dollars. Are central banks poised to ignite the largest Bitcoin bull market ever?
Crypto Forecast: Money Printers are Active – BTC to $100,000 Thanks to Central Banks?
The following expert analysis reveals a fundamentally optimistic view of the global financial situation, particularly concerning Bitcoin. The primary argument is that central banks worldwide will need to ease their monetary policies. This shift could lead to increased market liquidity and initiate a bull market.
According to the expert, his model of global liquidity dynamics has generated a bullish signal for Bitcoin for the first time since November 2023. Last time such a signal was issued, Bitcoin’s value surged by 75 percent within a few months. The expert highlights that the Bank of Japan (BoJ) and the People’s Bank of China (PBoC) have recently injected substantial amounts of money into the economy.
The expert also draws comparisons to previous Bitcoin cycles: in 2017, Bitcoin experienced a 19-fold increase, and in 2020, it surged sixfold. He believes a 2 to 3-fold increase is possible for 2024, contingent upon a continued weakening of the US dollar, potentially supported by ongoing central bank injections. This decline in the DXY could elevate the global M2 money supply above 120 trillion dollars during this cycle. A 2 to 3 times performance could lead to a Bitcoin price target ranging from 118,000 to 174,000 dollars.
The expert elucidates his bullish forecast: in a credit-oriented fractional reserve system, the money supply must continually expand to support the prevailing debt levels. If not, the entire system risks collapse. This suggests that the current expansionary policies of central banks are essential for maintaining financial system stability. This theory supports Bitcoin’s long-term outlook, as there is simply no alternative to the expansive monetary policies adopted by central banks.
Historically, Bitcoin has benefited from loose monetary policies, which lead to increased money supply and lower interest rates. In such scenarios, investors seek alternative investments for returns. Risky asset classes, including Bitcoin, generally benefit from this pursuit of returns. Moreover, Bitcoin serves as a hedge against inflation, which can worsen under expansive monetary policies. As the dollar depreciates (losing purchasing power), Bitcoin typically appreciates.
Crypto Tip: Innovative Crypto Game & Meme Coin – Introducing PlayDoge
While the long-term outlook for Bitcoin is bullish, investors may also consider smaller projects that could provide higher returns at greater risks. With over 6 million dollars raised, interest in PlayDoge (PLAY) is noticeably increasing.
PlayDoge cleverly merges the nostalgic elements of 90s Tamagotchis with the modern Play-to-Earn concept. This innovative combination has already garnered attention in the crypto community through a successful presale phase, raising over 6 million US dollars.
The PlayDoge team intentionally taps into the nostalgic appeal of Tamagotchis to attract a new audience while broadening the crypto market. The project is characterized as a mobile play-to-earn (P2E) game inspired by the popular Doge meme, reincarnated in the form of a Tamagotchi-style virtual pet. Players can pre-purchase $PLAY tokens to earn cryptocurrencies while engaging with 2D retro games. During the 90s, virtual pets saw tremendous success with Tamagotchis, which allowed users to nurture and care for a digital pet. Their success stemmed from the emotional connections players formed with their virtual companions.
Today, PlayDoge reimagines this concept by merging the nostalgic essence of Tamagotchis with cryptocurrencies. Users can care for digital pets and earn cryptocurrencies while playing mini-games.
The PLAY token serves as the core of the PlayDoge ecosystem, functioning as the in-game currency. Players earn PLAY by nurturing their virtual pets and achieving in-game milestones.
With 6 million dollars already raised, PlayDoge demonstrates significant potential in the presale stage. The price of PLAY is set to rise again within the next 48 hours. Purchases can be made directly from the official website by connecting a wallet and exchanging ETH/BNB/USDT for PLAY.
Note: Investing is speculative. Your capital is at risk when investing. This website is not intended for use in jurisdictions where the trading or investments described are prohibited and should only be utilized by individuals and in manners permitted by law. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence. This website is provided to you free of charge; however, we may receive commissions from the companies featured on this site.
Bitcoin has fallen by around 2 percent in the last 24 hours. Although the stock markets are trading significantly stronger and there is general confidence returning to the financial market, things are different for Bitcoin & Co. Here, there are moderate losses again on a weekly basis. The significant price jump and breakout have not yet occurred – Bitcoin is trading at around 58,000 US dollars. But a macroeconomic development could now drive Bitcoin above 100,000 US dollars. Are the central banks now responsible for the biggest Bitcoin bull market in history?
Crypto forecast: Money printers are running – BTC to $100,000 thanks to central banks?
In the following analysis by the expert, a fundamentally positive assessment of the global financial situation with a focus on Bitcoin becomes apparent. The main thesis is that central banks around the world will be forced to loosen their monetary policy. This would lead to increased liquidity in the market, and the bull market should begin.
According to him, the expert’s model of global liquidity dynamics has provided a bullish signal for Bitcoin for the first time since November 2023. The last time such a signal was given, the value of Bitcoin rose by 75 percent within a few months. The expert now points out that the Bank of Japan (BoJ) and the People’s Bank of China (PBoC) recently pumped massive amounts of money into the market.
The expert also draws parallels to previous Bitcoin cycles: In 2017, Bitcoin rose 19-fold and in 2020 6-fold. For 2024, he believes a 2- to 3-fold increase is possible. However, this is dependent on the US dollar continuing to weaken, which could be supported by continued central bank injections. This decline in the DXY would push the global M2 money supply above $120 trillion in this cycle. A 2-3x performance would then result in a Bitcoin price target between $118,000 and $174,000 for the new cycle.
The expert explains his bullish forecast as follows: In a credit-oriented fractional reserve system, the money supply must be constantly expanded to support the existing level of debt. Otherwise, the entire system would collapse. This implies that the current expansionary policy of the central banks is a necessary reaction to ensure the stability of the financial system. This thesis speaks in favor of Bitcoin in the long term – because there is simply no alternative to the expansive monetary policy of the central banks.
Bitcoin has historically benefited from loose monetary policy, as this leads to an increased money supply and lower interest rates. In such an environment, investors look for alternative investments to generate returns. Risky asset classes, which include Bitcoin, generally benefit from this search for returns. In addition, Bitcoin serves as a hedge against inflation, which can tend to be exacerbated by an expansive monetary policy. The dollar loses value (purchasing power), Bitcoin tends to strengthen.
The Role of Central Banks in Bitcoin’s Future
The ongoing monetary policy adjustments by central banks have historically correlated with Bitcoin’s price movements. Here’s how central banks influence the cryptocurrency market:
- Quantitative Easing (QE): More liquidity or money supply in circulation generally leads to higher asset prices, including cryptocurrencies.
- Interest Rates: Lower interest rates drive investors toward riskier assets like Bitcoin, which offer the potential for higher returns.
- Inflation Concerns: As traditional currencies lose value, investors often seek the security of Bitcoin as digital gold.
- Market Sentiment: Central banks’ actions can shift market sentiment, impacting overall investment strategies.
Case Studies of Past Bitcoin Trends
| Year | Price Increase | Central Bank Action |
|---|---|---|
| 2017 | 19-fold | Global QE Programs |
| 2020 | 6-fold | COVID-19 Stimulus Packages |
| 2024 (Projected) | 2-3 fold | Expanded Global Monetary Policy |
Crypto Tip: Innovative Crypto Game & Meme Coin – Behind PlayDoge
While the long-term outlook for Bitcoin is bullish, investors could also explore smaller projects that might offer potentially higher returns. One interesting project is PlayDoge (PLAY), which has raised over 6 million dollars in capital through its presale.
PlayDoge cleverly combines the nostalgic appeal of 90s Tamagotchis with the modern Play-to-Earn model to attract a new audience while expanding the crypto market. This project allows users to care for digital pets while earning cryptocurrencies by participating in various mini-games.
The PLAY token is integral to the PlayDoge ecosystem, acting as the in-game currency. Users can earn PLAY tokens by taking care of their virtual pets and successfully completing in-game achievements. With its innovative concept, PlayDoge is already showing great potential in the presale stage, and the price is expected to rise in the coming days.
How to Invest in PlayDoge
- Visit the official PlayDoge website.
- Connect your wallet.
- Exchange ETH/BNB/USDT for PLAY tokens.
Note: Investing is speculative. Your capital is at risk. This website is not intended for use in jurisdictions where trading or investments described are prohibited. Conduct your own due diligence before investing.
By analyzing the trends and projections for Bitcoin’s future, as well as exploring innovative projects like PlayDoge, investors can make informed decisions in the rapidly evolving crypto market.