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Bitcoin Price Stays Above 30K, Will the Uptrend Continue?

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Bitcoin price, Bitcoin (BTC), Bullish

  • Bitcoin (BTC) soared to almost $31,400, the highest level since June 2022.
  • Pro XRP lawyer predicted that the BTC price may hit $300,000.

The top cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), have demonstrated significant strength, continuing their upward trajectory in the early hours of trading this week. BTC, the world’s largest cryptocurrency, has managed to maintain its position above the $30,200 range, while ETH has surged by 8.66% in a week to reach the $1,900 mark.

Bitcoin is currently in a “significant uptrend.” Over the past week, Bitcoin’s price has surged by an impressive 15%, while over the last 14 days, it has witnessed a remarkable gain of 17%. In addition, the Bitcoin price climbed to $31K over the weekend.

Bitcoin (BTC) Price Chart (Source: Tradingview)

According to the data, this recent surge in prices is attributed to the emergence of a short bull market, which closely follows several applications for spot Bitcoin ETFs. Also, the anticipation of regulated ETFs forBitcoin has stimulated investor sentiment and contributed to the strong performance of both BTC and ETH.

Pro-XRP Lawyer Makes Bold Prediction

Recently, Ripple (XRP) attorney John Deaton posed an intriguing question on Twitter to his 276,300 followers: “Can Bitcoin’s market cap someday reach half that of gold?”

Following that, Deaton suggests that if this were to happen, the price of Bitcoin could surge to $300,000, almost 10 times its current value. Also, this question has sparked a lively debate among crypto enthusiasts, with discussions centering around Bitcoin’s potential growth and its ability to rival gold as a store of value.

However, this surge in value marks one of the most robust weekly performances for Bitcoin and Ethereum since March, further solidifying the positive sentiment surrounding the market. The recent surge in prices and the bullish market sentiment for BTC and ETH indicate growing confidence among market participants.

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