Strike CEO Predicts Bitcoin Could Skyrocket 870% – Is $1 Million BTC on the Horizon?
Bitcoin
Cryptocurrency
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We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Bitcoin (BTC), the world’s leading cryptocurrency, saw a sharp pullback below $100,000 range, following its recent all-time high (ATH) of $108,250.
The dip, attributed to profit-taking by investors, comes amid robust demand, with Bitcoin whales accumulating $7.28 billion worth of BTC in the last two days. Market participants now turn their attention to the Federal Reserve’s comments on its 2025 outlook.
A dovish stance could fuel another rally, potentially pushing Bitcoin toward the $110,000 mark in the coming days.
Growing institutional adoption and spot Bitcoin ETFs continue to strengthen Bitcoin’s fundamentals. As major corporations hedge against inflation and economic instability, the cryptocurrency’s limited supply solidifies its position as a key financial asset.
Jack Mallers’ Bold Bitcoin Prediction
Jack Mallers, CEO of Strike, remains bullish on Bitcoin’s long-term prospects. In a conversation with Anthony Scaramucci, Mallers predicted Bitcoin could reach $1 million if the U.S. government acquires four million BTC.
Even without such a move, Mallers forecasts a $250,000 target, citing the global fiscal crisis and escalating debt levels as key drivers.
Mallers highlighted Bitcoin’s unique scarcity and resistance to inflation as critical factors in its future growth. He anticipates significant demand for Bitcoin as an asset class, particularly as nations grapple with rising debt-to-GDP ratios and currency debasement.
Strategic Bitcoin Reserve: A Game-Changer?
The U.S. is considering establishing a Strategic Bitcoin Reserve to bolster economic stability and safeguard the dollar’s dominance. Under this proposal, the Treasury would manage Bitcoin as a national asset, starting with 200,000 seized BTC valued at $21 billion.
If approved, the initiative could attract investment, reduce market volatility, and further validate Bitcoin’s role in global finance. Experts believe the reserve could be funded by debt issuance or gold reserves, signaling Bitcoin’s increasing significance in U.S. fiscal policy.
Bitcoin Recovers to $101,000: Key Support Holds as Traders Eye $103,000 Resistance
Bitcoin (BTC/USD) is trading at $101,144, up 1.50% for the day, showing signs of recovery after testing key support at $99,480. The price bounced off the upward trendline, highlighting strong buying interest near this level.
However, BTC remains below the $103,787 pivot point, which aligns with the 50-day EMA, acting as immediate resistance.
A breakout above $103,787 could pave the way for further gains, targeting $105,263 and $107,628. On the downside, failure to hold $99,480 may expose BTC to the next support levels at $97,339 and $95,773.
The RSI at 39 shows oversold conditions, suggesting potential for a near-term bounce. However, sustained momentum above the 50 EMA is required to confirm a bullish reversal.
For now, Bitcoin trades within a tight range, and traders are closely watching the pivot point for directional clarity.
Key Insights:
- Immediate Resistance: $103,787; Immediate Support: $99,480.
- RSI signals oversold conditions, but upside depends on breaking $103,787.
- Bearish momentum persists below the pivot; key support holds at $99,480.
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STARS Presale Hits $22.53M – Only 1 Day Left to Invest!
The Crypto All-Stars ($STARS) presale has raised an incredible $22,535,201.12, surpassing all expectations as the final hours approach. With less than 2 day remaining, this is the ultimate opportunity to secure $STARS tokens at the presale price of $0.0016782 before the official launch.
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Key Presale Details for Investors
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Secure your $STARS tokens before the presale ends and position yourself ahead of the official launch.
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- Bitcoin Price Prediction: Fundstrat Tells Clients to Brace for a $60K Bitcoin Correction Next Year
- Bitcoin Price Prediction: Why $88,000 Could Be the Calm Before a $94,000 Push
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