Bitcoin price is trading at approximately $115,000, 0.8% higher and 3.8% higher than the same time last week. The most recent events are accompanied by anticipation of a interest rate reduction when the Federal Reserve holds a meeting on September 17. Most market participants expect a cut of 25 basis points, which may contribute to positive sentiment.
Analysts point out that historical rises in hash rate, especially following halving events, have frequently been followed by upward price actions. With reduced levels of selling pressure and favorable macroeconomic indicators, experts say Bitcoin has entered another stage of development.
Myriad has released prediction market data that indicates a mixed outlook for Bitcoin. Over 80% of respondents believe that by September end. However, there is a split in opinions regarding the end-of-year prices: 56% anticipate an increase above $125,000, while 44% expect a potential decrease below $105,000.
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