Is the so-called winter for bitcoin over? This expert seems to think so. He has a forecast for the No. 1 cryptocurrency to reach $100,000 by later 2023, in a run higher that could last up to 2025.
Stocks are settling in for more choppy action, as investors continue to consider the Federal Reserve minutes and after Nvidia dropped a warning late Wednesday.
But the crux of his call is based on an eclipse-like event expected in 2024 , when rewards for bitcoin miners will be chopped in half. The so-called halving event occurs every four years, and is aimed at controlling the number of coins in circulation and support prices. The last one was May 11, 2020.
The investment community has soured a bit on the crypto sector thanks to the stablecoin debacle, fears of more regulation to come, and general bearish attitudes for assets such as stocks.Lamoureux is only interested in bitcoin, and doesn’t “trust any of these stablecoin projects.” Chip group Broadcom AVGO, +4.09% has reached a $61 billion deal to buy cloud-computing group VMware VMW, +3.59%.
Tesla CEO TSLA, +8.41% Elon Musk will lean on equity to finance his $44 billion Twitter deal, and not a margin loan backed by Tesla shares, down about a third since he struck a deal with Twitter in late April.
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