If Bitcoin Price Manages To Surpass This Level, BTC Could Surge By 50%, Per Analyst

Bullish start to the day! The crypto market has opened the day on a bullish note as major cryptocurrencies like Bitcoin, Ethereum, Cardano, Solana and others are back on green signal. Bitcoin price has reclaimed the $24,000 price levels and is currently trading at $24,573 after a surge of 2.50% over the last 24hrs.

Timeline of Bitcoin

Popular Japanese bank Shinsei Bank is set to start offering customers rewards in $XRP or $BTC as part of a new campaign that is running from August 10 until October 31. Rewards in the campaign can go up to 8,000 Japanese Yen worth around $60 at the time of writing.

Recently, Bitcoin's [BTC] fight to reach $24,000 has been met with defeat. This was the case when it reached $24,800 on 11 August after an almost 10% uptick from Wednesday (10 August).

Bitcoin (CRYPTO: BTC) bulls regain optimism as the world's largest Investment manager BlackRock announced yesterday that they are launched a private trust offering US-based institutional clients exposure to spot Bitcoin. BlackRock said, "despite the steep downturn in the digital asset market, we are still seeing substantial interest from some institutional clients in how to efficiently and cost-effectively access these assets using our technology and product capabilities.

A top crypto trader and analyst is revealing how Bitcoin (BTC) could soar by nearly 50%. Crypto analyst Justin Bennett tells his 11,100 YouTube subscribers that if the price of Bitcoin closes above $24,200, the next target is $26,500.

Bitcoin (CRYPTO: BTC) was trading mostly flat during Friday's trading session. The crypto has been unusually quiet over the month of August, trading mostly sideways between about $22,700 and $24,300.

Many people are reacting differently to the current condition of Bitcoin and the global economy. In the past two consecutive quarters, the US has posted negative GDP, leading to a rate spike by the Feds.

Over the past few months, the crypto market witnessed a severe downfall, marking the year's lowest in mid-June. The king of all cryptos' Bitcoin, also could not evade the effects of the crash and touched its 2022 low of $17,700 on 20 June.

The Commodity Futures Trading Commission (CFTC) has filed charges against Rathnakishore Giri and his firms, NBD Eidetic Capital, LLC and SR Private Equity, LLC, alleging digital asset trading ploy that pilfered $12 million from unsuspecting investors.

This past April, records show that 19 million bitcoins have been mined into existence and 133 days later, there are 1.88 million bitcoins left to mint today. The network's block subsidy halving is expected to occur on or around April 20, 2024, as there are less than 91,000 bitcoins left to mine until that point.

On-chain data shows Bitcoin exchange inflows from whales holding between 1k to 10k BTC have spiked up recently, a sign that can be bearish for the price of the crypto. Bitcoin Exchange Inflows Spike Up Following Rally Above $24k As pointed out by a CryptoQuant post, the BTC whales with between 1k to 10k BTC seem to have sent a large stack to exchanges recently.