Bitcoin Dips Below $64,000 Mark

On Friday, June 21, the leading cryptocurrency hit a new local low as its price fell below $64,000.

June 21, 2024 | 12:55Update:

Bitcoin has rebounded to levels above $64,000. The current price is $64,206.

Over the past 24 hours, the asset has depreciated by 2.9%, according to CoinGecko. Following the flagship, other assets in the top 10 by market capitalization also entered the “red zone.”

Solana showed the largest decline, falling by 4.5%.

The second-largest cryptocurrency by market cap briefly fell below $3,450 but later recovered and is trading above $3,510.

Earlier, Bernstein analysts predicted that Bitcoin could reach $200,000 by the end of 2025. This forecast is based on expectations of “unprecedented demand from spot exchange-traded funds based on the first cryptocurrency” managed by BlackRock, Fidelity, Franklin Templeton, and others.

Analysts from Standard Chartered forecasted that the leading cryptocurrency could hit $100,000 in November. They added that if Donald Trump wins the U.S. presidential election, digital gold could soar to $150,000 by the end of the year.

Former BitMEX CEO Arthur Hayes noted a change in the macroeconomic backdrop and urged buying the leading cryptocurrency.