YEREVAN (CoinChapter.com) — Scottie Pippen recently surprised the crypto world, not with basketball, but with a tweet about Bitcoin. In his tweet, Pippen said that the creator of Bitcoin, Satoshi Nakamoto, appeared in his dream and predicted that Bitcoin would reach $84,650 by November 5, 2024. Certainly, with Bitcoin currently around $57,950, this dream prediction definitely got people talking.
Pippen made sure to add, “Not financial advice,” but his dream still sparked a lot of reactions. A 50% jump in just two months? It made people wonder what could really push Bitcoin that high, even if it came from a dream.
Bitcoin Holds Key Levels with Potential Breakout Ahead, Says Analyst
At the moment, Bitcoin is priced at around $57,950. Analysts are watching two key levels: the resistance at $59,045 and support at $57,174. Crypto Diablo, a known analyst, pointed out that the Money Flow Wave indicator shows money is still flowing into the market.
He also mentioned that breaking through $59,000 could push Bitcoin toward $61,000–$62,000. However, if the price falls below $57,000, it could test support at $55,000.
Key Events in November Could Impact Bitcoin: Election and Fed Meeting
The timing of Pippen’s prediction, November 5, coincides with the U.S. Presidential Election. Donald Trump has expressed his support for cryptocurrencies, including Bitcoin. He has also suggested creating a national Bitcoin reserve and wants the U.S. to be a global leader in Bitcoin.
In addition, the Federal Reserve’s upcoming meeting on September 18 could play a role in Bitcoin’s price movement. If the Fed decides to cut interest rates, it could push investors toward riskier assets, such as Bitcoin.
Analysts Predict Bitcoin Rally Amid Market Fear and Halving Effects
Titan of Crypto, another analyst, noted that
“Fear, disbelief, and anger are at peak levels,”
which often signal a potential rally.
Notably, Crypto Rover highlighted that Bitcoin’s recent halving in April could lead to higher prices in the future. In addition, Bitcoin halvings reduce the supply of new coins, which could increase demand and push prices higher.
Banks Ready to Dive Into BTC If Regulations Ease, Says CEO
Carter Fitzgerald, CEO of BlockchainDose, stated that traditional financial institutions are closely watching Bitcoin. He said,
“Big banks and traditional finance will all go headfirst into Bitcoin if regulations were better.”
He believes this shift is coming soon.
Institutional interest and potential regulatory changes could bring more investments into Bitcoin. Certainly, this could influence Bitcoin’s price in the coming months, aligning with the factors mentioned in Scottie Pippen’s tweet.
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