Bitcoin

Spot

BlackRock

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-surge-continues-experts-reveal-expected-levels-for-altcoins/" data-wpel-link="internal">Bitcoin Price Surge Continues: Experts Reveal Expected Levels for Altcoins</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/bitcoin-btc-fiyati-yukselise-devam-eder-mi-uzman-analist-altcoinler-icin-beklenen-seviyeyi-acikladi" data-wpel-link="internal">Bitcoin</a> price</strong> today rose to $61,360 and has gained over $20,000 this month. Such a large green monthly candle is not something we are used to seeing. In fact, it is poised to close even better than the February candle of 2021. Of course, the primary reason for this extraordinary rise is the spot <a href="https://en.coin-turk.com/us-senators-demand-information-on-secs-hacked-twitter-account/" data-wpel-link="internal">Bitcoin</a> ETFs.</p> 
<h2 style="text-align: justify" id="spot-bitcoin-etfs">Spot Bitcoin ETFs</h2> 
<p style="text-align: justify">ETFs traded on the US stock markets reached volumes of hundreds of millions of dollars as soon as they started trading today and continue the day with a 7% increase. ETFs are already setting all-time high (ATH) levels and the ongoing interest has put Bitcoin into an interesting upward spiral. It is likely that the spot price will continue to rise until we see significant profit-taking in the ETF sector.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-320856 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/Bitcoin-ETF-28-Subat-2.png" alt="" width="627" height="493"></p> 
<p style="text-align: justify">Spot Bitcoin ETFs, which have seen over $5 billion in net inflows, have significantly filled the buyer gap in the market. The current size of cryptocurrency investment funds has almost reached the ATH levels of 2021. All these suggest that Bitcoin could reach a six-figure price target after the halving event.</p> 
<p style="text-align: justify">On the other hand, reserves are growing. Today, BlackRock and Fidelity added 9,114 and 2,208 <a href="https://en.coin-turk.com/max-keiser-warns-of-potential-us-government-seizure-of-bitcoin-in-etfs/" data-wpel-link="internal">BTC</a> to their reserves, respectively. Excluding GBTC, the reserve size reached 314,082, and the cumulative reserve rose to 758,120. Since the launch date, there has been a net inflow worth 136,330 BTC. This inflow is not far from the massive reserve accumulated by MicroStrategy to date. It roughly corresponds to about $8.3 billion at the current exchange rate.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-320855 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/Bitcoin-ETF-28-Subat.png" alt="" width="4016" height="2231"></p> 
<p style="text-align: justify">In an environment where Bloomberg experts find the annual net inflow of $10 billion ambitious, this is astonishing and explains BTC’s parabolic rise.</p> 
<h2 style="text-align: justify" id="bitcoin-ascends">Bitcoin Ascends</h2> 
<p style="text-align: justify">In the last few days, the Bitcoin price has reached all-time highs against the Japanese yen, Malaysian ringgit, Indian rupee, New Taiwan dollar, South Korean won, Chilean peso, Australian dollar, Chinese yuan, South African rand, Norwegian krone, and Turkish lira. Although the price surpassed $60,000 due to a strengthening dollar, the peak was seen early in most currencies.</p> 
<p style="text-align: justify"><strong>Bitcoin price</strong> has historically increased by at least 270% after every <strong>halving</strong>. If we are to see a similar scenario and the price increases by at least 200%, it would need to rise to $138,000.</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-price-surge-continues-experts-reveal-expected-levels-for-altcoins/" data-wpel-link="internal">Bitcoin Price Surge Continues: Experts Reveal Expected Levels for Altcoins</a></h5>

Bitcoin Price Surge Continues: Experts Reveal Expected Levels for Altcoins

Table of Contents

COINTURK NEWS

Other articles published on Feb 28, 2024

Expert Predicts Potential Crypto Price Movements for March 2024

ORDI and Aptos (APT) Prices Pumping – Here’s Why

Flux (FLUX) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Exec urges JPMorgan CEO to ‘do more homework’ on Bitcoin

MicroStrategy’s MSTR Shares Following the Rise in Bitcoin Price

Spotlight Ready: Crypto Newcomers Set To Eclipse Solana

Join our free newsletter for daily crypto updates!