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Bitcoin Set for 2024 Surge Backed by Macroeconomic Factors: Analyst

Published 12/29/2023, 09:55 PM
Updated 12/29/2023, 10:15 PM
© Reuters.  Bitcoin Set for 2024 Surge Backed by Macroeconomic Factors: Analyst
BTC/USD
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  • Dave Weisberger, CoinRoutes co-CEO, predicts a bullish trend for Bitcoin in 2024.
  • Weisberger sees Bitcoin as a hedge amidst macroeconomic uncertainties.
  • Bitcoin’s decentralized nature aligns with the call for a new financial paradigm.

As the crypto markets show signs of consolidation, analysts predict a bullish trend for Bitcoin in 2024. In a recent Macro Monday discussion with host Scott Melker on his YouTube channel, Dave Weisberger, co-CEO of CoinRoutes, highlighted several macroeconomic factors that could propel Bitcoin to new heights.

Weisberger began by acknowledging the current stability of Bitcoin around the $42,000 level, attributing the relative calm to the year-end period. Despite Bitcoin’s consolidation around $42,000 to $44,000, the analyst sees several positive catalysts and tailwinds that could propel Bitcoin’s price upward.

Notably, Weisberger pointed to a unique set of macroeconomic factors contributing to Bitcoin’s potential pump. One factor discussed was the unusual yield curve in the bond market, describing it as “ridiculous” and indicating signs of a broken system. He also pointed to the challenges faced by the U.S. Federal Reserve and exp…

The post Bitcoin Set for 2024 Surge Backed by Macroeconomic Factors: Analyst appeared first on Coin Edition.

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