Bitcoin traded at $76,191 against the US Dollar on Friday, November 8, marking an increase of $172, or 0.23%, from the previous trading session.
Bitcoin hits $76,191, up 25.6% in 4 weeks
This recent uptick contributes to a significant 25.62% gain over the past four weeks, reflecting strong momentum. Over the past year, Bitcoin’s value has surged by 108.54%, driven by growing institutional interest, favorable regulatory developments, and heightened interest from retail investors.
Trading Economics global macro models and analysts forecast Bitcoin's gradual decline, projecting a price of around $70,903 by the end of this quarter and $62,495 in one year. This anticipated cooling may reflect potential market corrections, evolving economic conditions, and regulatory shifts.
Bitcoin's volatility could lead to price fluctuations despite forecasts
Despite these forecasts, Bitcoin's historical volatility and responsiveness to external factors—such as regulatory changes, macroeconomic trends, and technological advancements—mean that future price movements could deviate significantly from current projections.
