Bitcoin BTC has rebounded this year, reigniting wild rumors of a secret soverign bitcoin bid and that Elon Musk could be poised to trigger a bitcoin price surge. The bitcoin price has rocketed over $40,000 per bitcoin in recent weeks, more than doubling from its price of under $20,000 per bitcoin late last year as traders brace for China and Federal Reserve to unleash trillions of dollars. Bitcoin's historical halving that's expected to cause crypto price chaos is just around the corner! Getty Images"In the second half of 2024, bitcoin will climb a Presidential-sized wall of worry," VanEck analysts Matthew Sigel and Patrick Bush wrote in a 2024 crypto and bitcoin prediction report. Sigel and Bush also pointed to historical bitcoin price data that showed bitcoin's November 2020 breakout came "exactly three years to the day from its November 2017 top," adding that if the bitcoin price "reaches $100,000 by December, we make a long-shot call that [mysterious bitcoin creator] Satoshi Nakamoto will be named" Time Magazine's person of the year.

Source: Forbes December 11, 2023 15:47 UTC