The leading cryptocurrency, Bitcoin, erased the traces of the correction it experienced after the spot ETF approval and reached over $ 49,000 today.
Although this rise pleases investors, expectations for further rallies continue.
At this point, investment company Bernstein analysts stated that further rises will come in Bitcoin.
Stating that ETFs will increase the Bitcoin price, analysts said that the ETF-focused market will create FOMO in investors and therefore they believe that Bitcoin’s strongest period has not yet come.
Emphasizing that Bitcoin ETFs and inflows are increasingly affecting the Bitcoin price, analysts underlined that BTC is in a good position to reach unprecedented levels.
“We believe the capital coming into Spot Bitcoin ETFs comes primarily from Bitcoin supporters.
Skeptics, however, remain cautious.
Secondly, it seems to be coming from beginner investors who are eager to learn more about Bitcoin ETFs even if they are not yet invested in them.
At this point, our first prediction was that the value of Bitcoin would rise rapidly after the Halving.
However, with the unprecedented success of ETFs and the steady flow of capital into ETFs, we now expect a significant rally in Bitcoin ahead of the Halving.”
*This is not investment advice.
