Bitcoin’s price is nearing $100,000 again, with analysts anticipating a breakout. Current trends show dwindling supply on exchanges, significant ETF inflows, and emerging markets pushing demand upward. Remittix’s role in facilitating Bitcoin transactions is also posited to create additional demand. Investors are advised on strategies to take advantage of these developments as potential new highs approach.
Bitcoin Price Nears $100,000: What’s Next?
The price of Bitcoin seems to be on the brink of breaking into six figures again, currently hovering around $97,729.13, according to CoinMarketCap. With the market cap sitting pretty at $1.94 trillion and a 24-hour trading volume hitting $28.55 billion, excitement is palpable. However, traders are left wondering how BTC can finally cross that elusive $100,000 threshold and what might derail the party once it starts.
Recent trade data suggests a bullish outlook as the available supply of Bitcoin on exchanges has consistently dropped to all-time lows since 2021. This means long-term investors are hoarding their coins in cold storage. Historically, when there’s a decrease in the liquid supply, Bitcoin’s price tends to rise quickly due to a lack of available coins to meet sudden demand. Moreover, the “realised cap”—essentially the total value of all mined coins at their last move price—has also reached a new high, indicating a robust market.
On the macroeconomic front, things are looking up. Traders expect the U.S. Federal Reserve might ease interest rates twice by the end of the year. With potential lower returns on cash, institutional money is likely to flow into Bitcoin, the top contender among alternative assets. BlackRock’s iShares Bitcoin Trust (IBIT) has already reported over $15 billion in net inflows, suggesting high demand that could lead to a significant supply shock in the near future.
Geopolitical factors are amplifying these bullish sentiments. Sovereign wealth funds from Asia and the Middle East are making pilot investments in Bitcoin, acknowledging its status as “digital gold” during unpredictable currency fluctuations. Should one of these funds move beyond preliminary testing, expect a pronounced squeeze on Bitcoin’s spot markets, further driving up the price.
Meanwhile, a newcomer, Remittix (RTX), is quietly making waves in the crypto scene. They’ve raised an impressive $14.69 million by selling over 530 million tokens at $0.0757 each. Remittix allows users to convert Bitcoin, Ethereum, and XRP into local bank accounts almost instantly. Each transaction burns a portion of RTX tokens, rewarding stakers in the process.
But here’s why this matters for Bitcoin: Remittix mainly facilitates swaps in Bitcoin, providing deep liquidity. As traders, especially in Nigeria and the Philippines, convert their sales, they’re first buying Bitcoin, which inevitably increases demand. This growing activity could exert unsuspected buying pressure on the Bitcoin price, potentially pushing it past that psychological barrier of $100,000.
For those looking to capitalise on this possible spike, seasoned investors recommend a straightforward plan. Firstly, keep at least half of your Bitcoin in cold storage to benefit if prices climb to $120,000 or even $150,000. Secondly, hold some cash for swing trades around critical price points like $95,000 and $105,000 to realise gains. Finally, consider staking in RTX, where you can earn daily rewards. A modest increase from $0.08 to $0.40 can significantly boost your overall returns, even if Bitcoin’s price stabilises for a moment.
Timing is key. If you wait until Bitcoin hits the $100,000 mark before investing, the best opportunities might vanish. Position yourself now, while the price hovers just below major resistance levels. Let the ETF flows, long-term holder dynamics, and spontaneous demand from innovations like Remittix do the work for you.
Crypto markets tend to reward those who are patient and well-prepared, rather than those who panic buy in a FOMO frenzy. Establish your strategy, secure your RTX stake, and prepare for what could be a riveting new chapter in crypto history. Join the Remittix presale for updates, insider information, and opportunities that could come your way.
