Bitcoin Price Prediction: BTC Records 2% Growth – Is Another Bull Run Underway?

Updated: 24 August 2023

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Bitcoin’s (BTC) price has finally seen a minor recovery in the past 24 hours, growing by about 2% late on Wednesday, August 23.

After a first attempt at recovery earlier that day, BTC managed to climb to $26k, but it was not strong enough to move too far past that.

It spent the day just above this mark, with many expecting that it was just a matter of time before the price would be rejected again.

The price did get rejected, but only for a moment, dropping back to $25,840 before it saw a strong surge that took it up to $26.8k. This was its 24-hour peak, but it was too high for the coin to maintain this new level. The price dropped to $26.26k, only to stabilize under a more minor resistance at $26.5k.

At the time of writing, Bitcoin is still at $26.50k, while the market participants expect it to breach this level and see a new wave of recovery.

Pantera Capital Gives 2-Year Price Prediction

Bitcoin has received positive news in the last day, which likely encouraged the buyers to get more involved.

One of the most impactful ones may have been Pantera Capital’s prediction that Bitcoin price will reach $148k by July 2025 — roughly a year after the next halving.

For those who believe in this prediction, the time to buy is now, when Bitcoin is still low.

Buying now would require holding onto the coins for nearly two full years, but if the prediction is accurate, the vital thing to do is HODL, regardless of what happens next.

Miami Mayor Will Take Salary In BTC if Elected President

After Robert F. Kennedy Jr. made Bitcoin a part of his campaign, his popularity and mentions on the internet skyrocketed. It became clear to many that associating oneself with BTC could positively impact the campaign.

Cryptocurrencies, led by bitcoin, along with other crypto technologies are a major innovation engine. It is a mistake for the U.S. government to hobble the industry and drive innovation elsewhere. Biden’s proposed 30% tax on cryptocurrency mining is a bad idea. 🧵

— Robert F. Kennedy Jr (@RobertKennedyJr) May 3, 2023

Some have decided to mirror the move, as Miami Mayor Francis Suarez announced that he will take salary in Bitcoin if elected president.

In a podcast interview, Suarez confirmed that he was already taking some of his mayoral salary in Bitcoin. If he became president, he would do the same, he says.

He described BTC and other cryptocurrencies as a good hedge and check and balance on a monetary system that has gotten out of hand and become highly political.

The situation represents a significant change from only four years ago when the former president.

Donald Trump said that Bitcoin is not money and can facilitate unlawful behavior, such as drug trade and other illegal activities.

I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….

— Donald J. Trump (@realDonaldTrump) July 12, 2019

What Next For Bitcoin?

The big question now is where is Bitcoin going next? Some analysts believe that the coin is still not ready for a recovery and that an actual bull run is still far away. They still expect BTC to drop to $21.5k in the short term.

Others focus on the solid bullish volume, noting that the coin reached the first bearish target, followed by a confirmation for the second time yesterday. Then, it got the bullish target, and now, they expect to see the coin rise back to $26.8k and possibly go higher.

Wall Street Memes Presale Enters Final Stage

While some are encouraged by Bitcoin’s recent behavior, others are still unconvinced and instead turn to other assets, including Wall Street Memes (WSM), which recently entered the final stage of its presale.

WSM is the most popular meme coin still in presale, and it managed to raise over $25 million over the past weeks.

At this time, its token is selling at $0.0337, and it can be bought in exchange for ETH, USEDT, BNB, or via credit card.

The presale will only last a few more days, so this is the last chance to buy before the token hits the exchanges, which is expected to happen in 34 days.

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