The Bitcoin price was almost unchanged early Sunday morning. According to data from CoinMarketCap, a bitcoin is currently valued at around $27,100. For a price of $100,000 by 2024, the Bitcoin price would need a performance of around 270%. An ambitious goal when you consider that Bitcoin has already gained over 60% in 2023. There is no doubt that the current year has been largely successful for cryptos, but there is still a lack of the really big upward movement.
However, there are some signs why this could soon change. Because Bitcoin, as the most valuable cryptocurrency with a market capitalization of $525 billion and a market dominance of around 46%, has become an integral part of the modern asset mix.
Meanwhile, the meme coin market segment remains attractive in spring 2023. PEPE, TURBO and SPONGE brought back momentum to crypto memes. In just one week, Wall Street memes have flown over $3.5 million. While BTC remains the basic investment with an attractive risk-reward ratio, WSM could further increase the return potential of the portfolio in a core-satellite strategy.
Therefore, in the following article, we take a look at what enables Bitcoin to jump to $100,000 and why more and more investors are considering including WSM in their crypto portfolio.
Learn more about Wall Street memes
200 Weekly-MA holds: trend reversal in sight?
The 200MA on the weekly chart is one of the most important long-term trend indicators for Bitcoin. After a strong start at the beginning of 2023, in which the bulls recaptured the MA 200 in March with a strongly bullish trading week, there was a correction. In the course of this, the Bitcoin course tested this support several times. If the trend indicator holds, there is a good chance that a new upward movement will promptly push the Bitcoin price well above $30,000.
Bitcoin Halving 2024: The historically biggest price driver is imminent
Bitcoin Halving has historically proven extremely bullish for Bitcoin. Halving is a programmed mechanism that halves the reward for mining new blocks of bitcoin. This limitation of supply creates a scarcity that is algorithmically conditioned. While high inflation drastically reduces people’s purchasing power, Bitcoin has built in inflation protection. Because with each halving, the inflation rate falls.
In the past, every halving has led to a significant increase in the Bitcoin price. For example, the price increased 50x after the 2012 halving and 30x after the 2016 halving. The scarcity and rising interest in bitcoin has made the halving a positive event for investors, with the market trading ahead of the event.
In spring 2024 it will be time again – the halving cycle could significantly boost the Bitcoin price both in the months before and after. It is true that the relative price gains are becoming less and less. Nevertheless, the jump above $100,000 seems possible in this context.
Halving progress 77%. #Bitcoin pic.twitter.com/EZWWSLPBr8
— Root
(@therationalroot) May 30, 2023
Loose monetary policy: Inflation is falling, interest rates are at their peak – more liquidity makes Bitcoin pump
Inflation continues to fall, interest rates may be at their peak. At most, the Federal Reserve is likely to make another rate hike of 25 basis points.
Historically, there is a connection between loose monetary policy, the injection of liquidity into the market and a rising Bitcoin price. When central banks cut interest rates and adopt quantitative easing measures, the money supply increases and the availability of capital increases. This leads to a search for high-yield investments and investors are increasingly turning to cryptocurrencies. The increasing demand drives the price up. The loose monetary policy thus creates a favorable environment for crypto investments and is therefore considered bullish. This will probably boost the markets again in the second half of 2023 or 2024 at the latest.
Fed’s generate #Bitcoin Boom & Bust.
Price is simple, equilibrium supply vs. demand. When the FED create money we have more money to chase the same limited market supply.
– Fed eases = Pumps
-Fed tightens = (Sucks).. when inflation
Watch liquidity
#Dollar
1/7 pic.twitter.com/OxYgtz0wtp
— Crypto Mercy (@crypto__mercy) May 31, 2023
Bitcoin Alternative: 3 reasons why Wall Street Memes (WSM) could explode significantly more
Bitcoin remains good as a basic investment in the digital currency market for returns that are well above average. But if you want to achieve returns of 10-100x within a few weeks or months in 2023, you have to look for cryptocurrencies with a lower market capitalization in speculative areas. Wall Street Memes (WSM) could now be the next candidate with an attractive CRV – three reasons for 10-100x:
Strong momentum – $3.5 million in about a week
First of all, the strong momentum in Wall Street memes suggests a lot of potential. Because normally, new token pre-sales start at a leisurely pace and then slowly build momentum. Things are different with Wall Street Memes – the token for the movement that swept the financial markets after WallStreetBets & GameStop. In about a week, the project raised $3.5 million. The community already loves Wall Street memes.
Huge community – this meme coin changes everything
Things are different with Wall Street memes. Because meme coins are actually launched quickly and have a handful of fans. Then it’s about building the community. Because this is largely responsible for the success of a cryptocurrency that offers no real use case. However, Wall Street Memes already has a huge community with over a million followers across the various social channels. This could turn out to be a game changer. Because the high affinity to the financial market is present in the community, the interest in digital assets makes Wall Street Memes one of the hottest meme coins and crypto presales in 2023.
Viral Hype Potential – 2023 belongs to meme coins
To date, the year 2023 undoubtedly belongs to the meme coins. The idea of a community-based cryptocurrency that makes retail investors rich remains enticing. Wall Street Memes is the concept with 100% tokens for the community. The hype potential is there, Wall Street memes are already going viral. Those who participate early can build up an attractive safety buffer with book profits of over 25%, which makes a return that clearly beats Bitcoin even more likely.
Here directly to the Wall Street Memes Presale
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