Bitcoin (BTC) could set a trend high of $78,000 soon based on new market information.
China announced its stimulus package which will inject $140 billion into the financial system.
Historically BTC pumps 100% after a stimulus and this is the highest since the pandemic.
The crypto community sets higher sights for a new Bitcoin ATH target for its next trend high. The expectations for a
$68,000 to $70,000
trend high have now pumped to a trend high expectation of $78,000. This new bullish sentiment is fueled by the Chinese stimulus package.
In detail, China’s central bank unveils the
most aggressive stimulus package
since the pandemic. To highlight, this package includes a direct injection from the
People’s Bank of China
. Indeed, a total of $140 billion will be injected into the financial system.
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price target hits $78K after Chinese stimulus package
With the People’s Bank of China injecting $140B into the financial system, analysts predict a
$BTC
breakout.
Previous stimulus announcements led to 100% Bitcoin rallies.
Will history repeat?
pic.twitter.com/yL2TURCOFi
— Cointelegraph (@Cointelegraph)
September 24, 2024
In turn, like all financial systems being connected,
Bitcoin (BTC) price
will likely be the first crypto to see the result of this financial move. This momentum will later seep into the greater crypto market and eventually lead to new ATHs from Bitcoin and across all altcoins in the space.
More importantly, this bullish news has come out just before Q4 which is expected to be incredibly bullish. So far, every Bitcoin Halving year has seen green Q4, even more so if September closes in green colors where historically it has been red in some cases. All in all, Q4 is expected to be bullish no matter
how BTC closes in September
.
If Bitcoin closes above $59,000 in September, Q4 will be even more bullish than expected. Likewise, this stimulus package announcement reflects a similar bullish historical pattern. In previous stimulus package announcements, Bitcoin has always rallied by 100%.
To elaborate, this stimulus is greater than any announced since the pandemic making the upcoming BTC rally to be expected to be even more bullish than ever. Many analysts debate the bull run price top to hit between $110,000 and $220,000 ATH for Bitcoin (BTC) this cycle.
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1400億中國刺激計劃後78000比特幣目標成為現實可能性
