Bitcoin ETF

April

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-millionaires-surge-as-prices-climb/" data-wpel-link="internal">Bitcoin Millionaires Surge as Prices Climb</a><br></p>
<p><a href="https://coin-turk.com/fiyatla-birlikte-bitcoin-milyonerlerinin-sayisi-hizla-artiyor-3-katlandi" data-wpel-link="internal">Bitcoin</a> price had declined following the approval of a spot <a href="https://en.coin-turk.com/major-resignations-at-grayscale-amidst-crypto-market-movements/" data-wpel-link="internal">Bitcoin</a> ETF last month but later recovered, giving market participants a sigh of relief. After surpassing $53,000, BTC experienced a pullback and fell back to the $50,000 level. So, what is happening today despite the price being at $51,000?</p> 
<h2 id="bitcoin-price-and-developments">Bitcoin Price and Developments</h2> 
<p>Following the recent historical peak of $53,033 for Bitcoin, there was a price pullback. In the ensuing period, for the first time in over a month, there is a possibility that a weekly candlestick might close negatively.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-319109" src="https://coin-turk.com/wp-content/uploads/2024/02/btc-fiyat-coin-turk-com-1.png" alt="" width="1567" height="857"></p> 
<p>With the active re-entry of individual investors into the market, Bitcoin’s price saw a sharp movement over a four-week period, paving the way for a surge above $53,000.</p> 
<p>BTC recovered from its periodic low of $38,505 on January 23 and rose to $53,033 by February 20. This rally resulted in a 38% increase in value for BTC, moving it above the psychological level of $50,000.</p> 
<p>According to many analysts, this situation occurred following the recent approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC).</p> 
<p>Another group of analysts suggests that the situation is not limited to the ETF approval, indicating that the upcoming Bitcoin halving also played a significant role in the recent Bitcoin rally.</p> 
<h2 id="the-impact-of-bitcoin-halving-expectations-on-price">The Impact of Bitcoin Halving Expectations on Price</h2> 
<p>According to reports, the strategist team at JP Morgan is of the opinion that the current Bitcoin price already reflects the impact of the upcoming Bitcoin halving.</p> 
<p>However, Fiona Cincotta, a senior <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">financial</a> markets analyst at City Index Ltd, believes that the current price pullback is due to investors taking profits.</p> 
<p>Cincotta suggests that after four weeks of impressive performance, Bitcoin bulls may have paused to gather strength, potentially leading to a continuation of the rally, particularly with the expected Bitcoin halving in April that could affect the entire sector.</p> 
<p>Looking more closely at Bitcoin’s price, after a slight recovery from yesterday’s low of $50,519, the price found buyers at $51,109 at the time of writing.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-millionaires-surge-as-prices-climb/" data-wpel-link="internal">Bitcoin Millionaires Surge as Prices Climb</a></h5>

Bitcoin Millionaires Surge as Prices Climb

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