1. Bitcoin Price Prediction: Despite Bitcoin’s impressive market capitalization of $550 billion, its price is unlikely to double in Q4 2023. The estimated probability of the highest price being at $28,300 is 80%, $29,761 at 21%, $31,000 at 5%, and the lowest price at $26,000.
2. Factors Influencing Token Growth:
- Market Capitalization: Tokens with market caps below $5 billion have a higher chance of increasing.
- Assessment of Utility: Utility is evaluated using three dimensions: “cheaper,” “better,” and “faster.”
- Hot Projects: The market trend in 2023 leans towards tokens with utility and value. Based on traders’ predictions, it foresees that DeFi and tokens with high utility value will be the hot sectors post Q4 2023.
3. Investment Background and Social Media Data: While these are considered secondary indicators, they can still influence a token’s popularity and growth potential.
4. Token Risks and Trading Strategies: BingX emphasizes the importance of setting stop-loss limit orders and using a Trailing Stop approach for spot investments. For those using BingX perpetual contract trading, an X2 leverage is recommended.
5. Future of Bitcoin: The analysis suggests that 2024 and 2025 could be the final bull markets for Bitcoin with over 100% price increases. Beyond that, Bitcoin’s growth may slow down, with potential price increases not exceeding 50%.
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About BingX
copy trading services to users in over 100 countries and regions worldwide. With a user base of over 5 million, BingX facilitates connections between users, expert traders, and the platform itself in a secure and innovative manner.This content was prepared by Media OutReach. The opinions expressed in this article are the author's own and do not reflect the view of Siam News Network.
