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AI for Product Discovery ✌️【Weekend Job】✌️Start with ₹500 and earn steady, high returns every month!Bitcoin (BTC), Federal Reserve Chair Jerome Powell said yesterday, is not a competitor of the U.S.

dollarbut to gold.Not only did the largest cryptocurrency by market capitalization soar through $100,000 during Asia trading hours, reaching a record $104,000, it's also at an all-time high when priced in gold, worth about 39 ounces, breaking through the last remaining resistance level for that trading pair.

It has also hit records against silver and the S&P 500.The price action means bitcoin is now an over-$2 trillion asset class, with its sights onovertaking Google (GOOG), whose market cap is $2.14 trillion, and Amazon (AMZ) at $2.29 trillion.

AI for Product Discovery ✌️【Weekend Job】✌️Get high returns with just ₹500. Invest today and see your wealth grow!That would happen if it hit $115,000 a token and make it the fifth-largest global asset.Many data points are looking at an extremely bullish end of the year for bitcoin, and why not? It's already up 132% in 2024.Measuring from the cycle low, which took place during the collapse of crypto exchange FTX back in November 2022, when the price was hovering around $15,000, bitcoin has increased almost sevenfold.This is typical.

Measuring bitcoin from the cycle low against the previous two cycles, bitcoin is currently in between both these cycles in terms of returns.

If bitcoin were to finish in between the two previous cycles as it has been doing for much of this cycle, a price target of around $120,000 a token is probable.As the senior analyst at CoinDesk, specializing in Bitcoin and the macro environment.

Previously, working as a research analyst at Saidler & Co., a Swiss hedge fund, introduced to on-chain analytics.

James specializes in daily monitoring of ETFs, spot, futures volumes, and flows to understand how Bitcoin interacts within the financial system.

James holds more than $1,000 worth of bitcoin, MicroStrategy (MSTR) and Semler Scientific (SMLR).AI for Product Discovery ✌️【Weekend Job】✌️Start at ₹500, enjoy reliable and high monthly returns. Your financial growth starts here!