Bitcoin between $95,000 to $98,000 deemed attractive for investment, with $200,000 price target predicted.

From Investing.com

December 10, 2024 05:45 AM:

Bitcoin remains an attractive investment between $95,000 to $98,000, with analysts predicting a $200,000 price target within a year. The cryptocurrency surged 27% in the past month, hitting record highs. A dip near $100,000 was attributed to traders adjusting leverage, potentially paving the way for sustained demand pushing past the milestone.

MicroStrategy holds over 2% of Bitcoin’s total supply with $7.3 billion in convertible debt, fueling interest in the convertible debt market for Bitcoin. Other companies, like Riot and Marathon Digital Holdings, are following suit by issuing convertible debt to fund Bitcoin purchases. Analysts anticipate continued growth in the market as miners and companies explore new financing options.

The convertible debt market for Bitcoin is gaining momentum, with companies like MARA and Riot raising significant funds for Bitcoin purchases. Analysts believe this trend is just beginning, with miners and companies taking advantage of low debt levels to finance acquisitions. The market is evolving, creating new opportunities for growth and investment in the Bitcoin ecosystem.

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