Bitcoin, Ethereum, Dogecoin Drop As Longs Worth $155M Face Liquidations: Analyst Says 'Long Way To Go' Before King Crypto Reaches Cyclical Top

Major cryptocurrencies experienced a decline on Wednesday evening, with crypto longs facing liquidations totaling $155 million in the past 24 hours. Cryptocurrency Gains +/- Price (Recorded 9:30 p.m.

Timeline of Bitcoin, Dogecoin, Ethereum

Fundstrat's head of research, Tom Lee, has doubled down on his $150,000 bitcoin price prediction, stating that the crypto could reach that price level this year. He cited three key reasons driving his bullish price forecast.

Kiyosaki has reiterated his view that BTC is a safer investment than trust placed in the Fed. The author has been advocating Bitcoin, gold and silver adoption for quite some time now.

The chief executive of Sound Planning Group has predicted a major bitcoin price surge, stating that the crypto is priced for “a serious rally.” He identified the upcoming Bitcoin halving and the adoption of spot bitcoin exchange-traded funds (ETFs) as key factors driving his bullish prediction for the cryptocurrency's price.

Rich Dad Poor Dad author Robert Kiyosaki has predicted that bitcoin and silver will take off while gold will crash below $1,200. He urges investors to prepare for the “biggest crash in history” which he forecasted in his book years ago. Emphasizing that the Federal Reserve is “destroying” the U.S.

Barstool Sports kingpin Dave Portnoy is experiencing a serious case of crypto regret, wishing that he hadn't sold his bitcoin. He also wishes that his company, Barstool, had invested $10 million in the crypto. “I'm so mad at myself about bitcoin. I should be up like 75% in bitcoin,” he stressed.

As the Bitcoin price is targeting 2022 highs in the wake of the 2024 halving, the crypto market seems to be as bullish as one can get. One major factor was the SEC's approval of spot Bitcoin ETFs in January.

Cryptocurrency analyst and trader Kevin Svenson is offering his forecast for Bitcoin (BTC) over the coming weeks and months. In a new video, Svenson tells his 72,200 YouTube subscribers that he is maintaining a “bullish bias” on Bitcoin going forward.

Coinbase Global Inc (NASDAQ:COIN) CEO Brian Armstrong spoke about new ventures in Ethereum (CRYPTO: ETH) based products during a Thursday earnings call. What Happened: He said, “We've been named as the custodian in 5 of the 8 ETH ETF applications.

Major banking institutions in the United States are lobbying the Securities and Exchange Commission (SEC) to reevaluate its crypto asset definition, aiming to secure a more prominent role in the burgeoning cryptocurrency market. This push comes after the recent approval of spot Bitcoin exchange-traded funds (ETFs), which notably excluded American banks as asset custodians.

According to recent data, Bitcoin has surged past the $52,000 mark, buoyed by sustained buying pressure from institutional traders. The influx of institutional interest has been notably observed on Coinbase, a popular exchange platform among American investors.