- BTC at $76,465 USD, $1.53T cap per CoinGecko.
- Fear & Greed Index 29 signals contrarian rally buy.
- David Marcus predicts $100K Bitcoin price target.
David Marcus, former PayPal president, issued a bullish Bitcoin price prediction targeting $100,000 by Q4 2024. BTC surged 1.1% to $76,465 USD on October 10, per CoinGecko data. The market cap hit $1,531.3 billion USD. Fear & Greed Index dropped to 29, according to Alternative.me.
PayPal launched direct BTC trading in 2020. Users buy crypto via its app and Venmo. The platform processes $1.5 trillion in payments annually, per PayPal's Q3 2024 filings.
Fear & Greed Index at 29 Sparks Contrarian Buy Signal
A Fear & Greed Index reading of 29 indicates extreme fear. Contrarian investors see this as a prime buy opportunity. Historical data from Alternative.me shows BTC rallies often follow such lows, with average gains exceeding 50% within 30 days.
The index weighs volatility, market momentum, volume, and social media sentiment. Alternative.me updates it daily. See methodology at Alternative.me.
Spot BTC ETFs drove massive inflows in 2024. BlackRock CEO Larry Fink dubbed Bitcoin "digital gold" during a CNBC interview on October 8. BlackRock's IBIT ETF reached $38 billion in assets under management (AUM) as of October 10, per Bloomberg.
David Marcus Track Record Fuels Bitcoin Price Prediction
David Marcus spearheaded PayPal's crypto initiatives. He now leads Lightspark, a Bitcoin-focused payments firm. In a Bloomberg podcast on October 9, Marcus forecasted BTC surpassing $100,000 after the April halving. Listen at Bloomberg.
Marcus highlights borderless transfers as key to adoption. PayPal's PYUSD stablecoin, launched in 2023, now exceeds $500 million market cap, per CoinGecko.
His prior calls proved prescient. Marcus anticipated ETF approvals would ignite prices, a view validated by 2024 launches.
BTC Dominates Crypto Market Gains on October 10
Bitcoin leads major assets. CoinGecko data from October 10:
- Asset: BTC · Price (USD): 76,465.00 · 24h Change: +1.1% · Market Cap (B USD): 1,531.3
- Asset: ETH · Price (USD): 2,261.77 · 24h Change: +0.9% · Market Cap (B USD): 273.0
- Asset: USDT · Price (USD): 1.00 · 24h Change: -0.0% · Market Cap (B USD): 189.5
- Asset: XRP · Price (USD): 1.37 · 24h Change: +0.6% · Market Cap (B USD): 84.4
- Asset: BNB · Price (USD): 617.42 · 24h Change: +0.4% · Market Cap (B USD): 83.2
- Asset: USDC · Price (USD): 1.00 · 24h Change: -0.0% · Market Cap (B USD): 77.4
- Asset: SOL · Price (USD): 83.06 · 24h Change: +0.6% · Market Cap (B USD): 47.8
- Asset: DOGE · Price (USD): 0.11 · 24h Change: +4.3% · Market Cap (B USD): 16.4
- Asset: WBT · Price (USD): 57.32 · 24h Change: +6.5% · Market Cap (B USD): 12.2
- Asset: ADA · Price (USD): 0.25 · 24h Change: +1.5% · Market Cap (B USD): 9.1
Dogecoin gained 4.3%. Worldcoin (WBT) rose 6.5%. BTC dominance reached 56%, per CoinMarketCap data at CoinGecko and CoinMarketCap.
ETF Inflows Build Institutional Momentum
Spot BTC ETFs attracted $17.8 billion in net inflows year-to-date, reports ETF analyst Eric Balchunas of Bloomberg Intelligence. BlackRock's IBIT tops the list at $20 billion AUM.
Fidelity's FBTC trails closely with $12 billion AUM. Combined, these ETFs hold over 1 million BTC.
Glassnode on-chain reports confirm long-term holders added 200,000 BTC in Q3 2024. See details at Glassnode Insights.
Institutions curb selling pressure. This accumulation bolsters the Bitcoin price prediction outlook.
Fintech Integration Strengthens Bitcoin Outlook
PayPal embeds crypto services deeply. PYUSD stablecoin hit $500 million cap in Q3 2024.
Stablecoins enhance liquidity. USDT maintains $189.5 billion cap at $1.00 peg. USDC follows at $77.4 billion, per CoinGecko.
Marcus links his $100,000 Bitcoin price prediction to fintech shifts. Faster global payments favor Bitcoin networks over traditional rails.
Volatility, Halving Effects Shape Technical Picture
Federal Reserve rate cuts amplify volatility. BTC correlates 0.75 with Nasdaq-100, per Glassnode metrics.
The April 19 halving cut block rewards to 3.125 BTC. This supply shock historically drives bull runs.
Key support holds at $70,000. Resistance sits at $80,000, notes TradingView analyst Peter Brandt in his October 10 newsletter.
On-Chain Metrics Signal Hidden Strength
Glassnode data shows realized cap at all-time highs. HODLers control 75% of BTC supply.
Whales continue accumulation. This persists even as Fear & Greed lingers at 29.
Exchange reserves dropped 5% in Q3, reducing sell-off risks.
Bitcoin Price Prediction Aligns with Historical Cycles
David Marcus's $100,000 Bitcoin price prediction matches post-halving patterns. Past cycles delivered 300% average gains within 12 months.
ETF inflows, fintech adoption, and on-chain strength converge. Analysts target $80,000 breakout next. Watch Fed decisions and ETF flows for catalysts.
Frequently Asked Questions
What does Fear & Greed Index 29 mean for Bitcoin price prediction?
29 signals extreme fear, a contrarian buy. BTC holds $76,465 USD. Low readings precede rallies, per Alternative.me.
How does market volatility impact Bitcoin price prediction?
Volatility pushes Fear & Greed to 29 despite BTC +1.1% to $76,465 USD. Altcoins like DOGE +4.3%. Nasdaq ties persist.
What is David Marcus's Bitcoin price prediction outlook?
Bullish $100K target amid $76,465 price. Ex-PayPal leader cites fintech and ETFs.
How do stablecoins support Bitcoin during volatility?
USDT at $1.00 peg, $189.5B cap. USDC $77.4B adds liquidity for BTC trades, per CoinGecko.
