Analyst: ETF hopes reignite, Bitcoin once again aims for $50,000
Some analysts have stated that Bitcoin has recovered most of the losses recorded when the ETF was approved nearly a month ago as a selling news event. Hopes for an expanded investor base have been reignited, with cryptocurrency traders once again setting their sights on a price of $50,000. On Friday, Bitcoin rose by about 6.3%, briefly reaching over 48,000 yuan. Since December 2021, the trading price of this cryptocurrency has not exceeded $50,000. Currently, the accessibility of ETFs is expected to expand the token's investor base and so far new funds have attracted around $8 billion in net inflows. However, since conversion, Grayscale has lost more than $6 billion indicating that funds are not all flowing in one direction.
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.
You may also like
BitMine increased its holdings by 102,259 ETH last week, bringing the total to over 3.967 million ETH.
Publicly listed company Marygold Companies launches oil Bitcoin strategy fund WTIB