The Bitcoin rally is just getting underway.
After crossing the $50,000 threshold, Bitcoin could see higher highs.
In fact, according to analysts at Bernstein, “Bitcoin’s best days are yet to happen as the ETF-driven market fuels fears of missing out (FOMO). In this context, they believe BTC is well-placed to soar to new record highs.”
Helping, we’re seeing massive inflows into Bitcoin ETFs.
“Bitcoin’s price action was supported by last week’s strong inflows into spot bitcoin ETFs, attracting over $1.1 billion net fresh funds amid slowing outflows from incumbent funds such as Grayscale Bitcoin Trust (GBTC) and ProShares futures-based ETF (BITO),” said CoinDesk.com.
On top of that, we have the Bitcoin halving coming up.
“Initially, Bernstein forecasted a Bitcoin rally following its halving event. However, given the massive success of the ETF launch and the continuous inflow into ETFs, analysts now anticipate a Bitcoin rally before the halving event,” added CoinMarketCap.com.
Not only could BTC push higher on the news, but so could mining stocks. Aside from Marathon Digital (MARA), which we highlighted the other day, here’s another one that could push higher, too.
Sincerely,
Ian Cooper
Recent Comments