Bitcoin Rebounds Amid ETF Expectations and Increased Inflows By Investing.com
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© Reuters.
‘s price has experienced a significant resurgence this week, soaring from approximately $30,000 to over $35,000. The surge is attributed to increased inflows and the anticipation of a U.S.-approved Bitcoin Exchange Traded Fund (ETF), despite previous rejections by the Securities and Exchange Commission (SEC).
Anthony Rousseau from Trade Stations expressed skepticism about Bitcoin reaching a new high before the April halving event. The expert highlighted macroeconomic uncertainties and upcoming Federal Reserve rate decisions as potential hurdles.
John Glover of Ledn, on the other hand, forecasts that Bitcoin will fluctuate between $30,000 and $37,000 by the end of this year. He further anticipates that the cryptocurrency could potentially touch $45,000 by the second quarter of next year.
Despite these optimistic projections, it is worth noting that Bitcoin still remains more than 50% below its November 2021 peak of $68,990. Even with a 110% upsurge this year, the digital currency has not yet managed to reclaim its previous high.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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© Reuters.
‘s price has experienced a significant resurgence this week, soaring from approximately $30,000 to over $35,000. The surge is attributed to increased inflows and the anticipation of a U.S.-approved Bitcoin Exchange Traded Fund (ETF), despite previous rejections by the Securities and Exchange Commission (SEC).
Anthony Rousseau from Trade Stations expressed skepticism about Bitcoin reaching a new high before the April halving event. The expert highlighted macroeconomic uncertainties and upcoming Federal Reserve rate decisions as potential hurdles.
John Glover of Ledn, on the other hand, forecasts that Bitcoin will fluctuate between $30,000 and $37,000 by the end of this year. He further anticipates that the cryptocurrency could potentially touch $45,000 by the second quarter of next year.
Despite these optimistic projections, it is worth noting that Bitcoin still remains more than 50% below its November 2021 peak of $68,990. Even with a 110% upsurge this year, the digital currency has not yet managed to reclaim its previous high.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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