BTC prices hit a new high of $ 57.4 in February

Bitcoin (BTC) forecast open markets on Wall Street on October 11th.

BTC / USD 1 hour candlestick chart (bitstamp). Source: Tradingview

BTC prices hit a February high of $ 58,000

Data from Cointelegraph Markets Pro and TradingView showed বি 57,000 tracking after the BTC / USD bitstamp reached 57 57,450 – the best since May 10.

In doing so, Bitcoin effectively eliminates the impact of China’s mining defeat and the impact of redistribution of global hash rates altogether.

In a celebratory mood among analysts, the predictions broadly began after an early start centered on a six-peak race.

“All the data science models suggest that BTC will be much more than $ 100,000 in this cycle,” businessman and analyst Rect Capital added to the day.

Even at current prices, BTC / USD has been just over 38 days in its lifetime, said Anthony Pompliano, co-founder of Morgan Creek Digital Note.

The Bitcoin supply crisis became mainstream

This can be aided by a unique macro-environment that adds to Bitcoin’s greed Limited supply investment, Bloomberg says.

Related: BTC price hits পাঁচ 57, five-month high – 5 things to watch on BTC this week

In his latest Bitcoin tweet, Mike McGlon, a senior commodity strategist at Bloomberg Intelligence, highlighted the impending instability in U.S. monetary policy.

“With rising U.S. debt and tensions over potential defaults, Bitcoin 4Q could enter a unique phase for price increases as markets gain confidence in the coding that defines the supply of crypto,” he said. Tweeted.

“Debt-ceiling can work against drama directors who avoid allocations to Bitcoin”

Bitcoin supply vs. US debt o-to-GDP chart. Source: Mike McGlon / Twitter

Concerns failed to dampen the dollar earlier in the week, but the US Dollar Currency Index (DXY) rose once again above 94 support.