Bitcoin (BTC) recently achieved an all-time high of over 100,000 Canadian dollars, currently priced around $69,447.
Dean Skurka, CEO of WonderFi, predicts that upcoming interest rate cuts in Canada and the U.S., along with the 2024 U.S. Presidential election, will drive Bitcoin’s price higher in the next six to twenty-four months.
He highlighted the Bank of Canada’s recent 50-basis-point cut and the U.S. Federal Reserve’s ongoing rate reductions as catalysts for attracting retail and institutional investors.
Skurka believes these trends reflect a global shift toward lower interest rates, enhancing the digital asset ecosystem’s appeal.
Additionally, he noted that while a potential Trump presidency might benefit the crypto sector, Bitcoin’s long-term growth is expected regardless of the election outcome, with advocacy efforts likely leading to a more favorable regulatory environment.
He views the combination of these factors and substantial Bitcoin ETF inflows as setting a positive trajectory for Bitcoin in the coming years.
Bitcoin giant Strategy has added another 4,980 BTC to its reserves in a purchase worth approximately $531.9 million, according to Executive Chairman Michael Saylor.
According to renowned market veteran Peter Brandt, trading isn’t the path to prosperity for the vast majority of people.
Charles Edwards, founder and CEO of Capriole Investments, has offered a fresh perspective on Bitcoin’s stalled price movement near the $100,000 mark, despite growing institutional enthusiasm.
Metaplanet has expanded its Bitcoin treasury with a new acquisition of 1,005 BTC valued at approximately $108.1 million, further cementing its status as one of the largest corporate holders of the digital asset.