2024

Bitcoin ETF

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-surges-to-new-highs/" data-wpel-link="internal">Bitcoin Price Surges to New Highs</a> 
<a href="https://en.coin-turk.com/how-to-make-money-in-cryptocurrency-tips-and-strategies/" data-wpel-link="internal">Bitcoin</a> price recently exceeded $49,000, marking a new high for 2024 at $49,140. After a drop to $38,555 following sales that started on January 11 at $48,969, the price has once again turned upwards. The positive outlook in spot Bitcoin ETFs is a fundamental reason for this rise. 
<h2 style="text-align: justify" id="why-is-bitcoin-rising">Why Is Bitcoin Rising?</h2> 
Spot Bitcoin ETF issuers, excluding GBTC, have reserves surpassing $10 billion. Net inflows are over $2 billion, and GBTC sales have fallen from $600 million to $52 million. These factors have laid the foundation for the spot Bitcoin ETF-supported increase. We have often discussed how ETF approvals would support a long-term rise for BTC. 
Moreover, experts had stated that even in the short term, significant losses would not be triggered. Although a $5 billion spot sale could have sparked a sell-off on false <a href="https://newslinker.co/" data-wpel-link="exclude">news</a>, the ETF approval did not resemble other deals, partnerships, or announcements, so the sales did not last long. 
<img decoding="async" class="size-full wp-image-313853 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/BTCUSDT_2024-02-12_18-31-07.png" alt="" width="1814" height="836"> 
Now, it is expected that the Bitcoin price will continue its rise to $52,000 and, with sustained closes above that level, aim for $60,000. Although there hasn’t been a significant increase in altcoins, it is likely that they will also start to rise when BTC begins to consolidate at higher levels. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-surges-to-new-highs/" data-wpel-link="internal">Bitcoin Price Surges to New Highs</a></h5>

Bitcoin Price Surges to New Highs

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