L2 Tech to Fuel Bitcoin (BTC) Price Rise

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Cointime2024/03/24 09:32

By:Cointime

Bitcoin's price target has been raised by analysts due to the surge in tech innovation, with Layer 2 (L2) solutions being closely watched for their transformative impact on scalability, security, and decentralization. Muneeb Ali, CEO of Trust Machines, believes that L2 technologies will revolutionize scalability problems and improve the efficiency of BTC transactions. The development of the Ordinals protocol, BRC-20 tokens, and BitVM smart contracts have also contributed to the revival of the free Bitcoin economy, with Elastos' BTC Oracle and BeL2 expanding the use of Bitcoin in DeFi protocols and beyond. The market response to these technological advances has been overwhelmingly positive, with Bernstein analysts increasing their forecast price of Bitcoin to $90,000 by the end of the year.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Share link:In this post: Wall Street loved Trump’s win at first—stocks jumped, Bitcoin soared, and borrowing costs hit rock bottom, but some sectors started cracking fast. Tax cuts and deregulation made financial and energy stocks shoot up, but tariffs and plans to deport workers freaked out economists and markets. Tariffs mean higher prices for Americans, and even Walmart’s warning it’ll have to raise prices if Trump pushes through with his trade war.

Cryptopolitan•2024/11/24 03:44