Bitcoin ETF

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/insights-from-crypto-com-ceo-on-bitcoins-surge-and-market-dynamics/" data-wpel-link="internal">Insights from Crypto.com CEO on Bitcoin’s Surge and Market Dynamics</a> 
<a href="https://coin-turk.com/hic-yanilmayan-efsane-yazar-buyuk-konustu-altin-gumus-ve-bu-coinden-sasmayin" data-wpel-link="internal">Bitcoin</a> price has increased by more than 150% compared to a year ago, and the CEO of <a href="https://en.coin-turk.com/bitcoin-whale-stirs-after-a-decade-of-dormancy-transfers-over-1400-btc/" data-wpel-link="internal">Crypto</a> com believes that the recent inflows into new spot exchange-traded funds (ETFs) are primarily responsible for the leading cryptocurrency’s rise. The renowned figure also thinks that we are likely in the December 2020 or January 2021 phase of the current cycle and considers the ongoing price correction to be healthy. 
<h2 class="p2" style="text-align: justify" id="significant-statements-from-a-renowned-figure">Significant Statements from a Renowned Figure</h2> 
CNBC’s Squawk Box featured Crypto com CEO Kris Marzsalek, who shared his belief that the <a href="https://en.coin-turk.com/bitcoin-block-reward-halving-expected-to-impact-microstrategy-shares-significantly/" data-wpel-link="internal">Bitcoin</a> surge is mainly driven by inflows from Bitcoin ETFs and stated: 
<blockquote> 
 “This is a very successful product. There is a supply issue, so this has to be reflected in the price.” 
</blockquote> 
The success of new spot Bitcoin ETF products is not much debated among experts both within and outside the broader crypto industry. On March 12 alone, net inflows into spot Bitcoin ETF funds surpassed $1 billion. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-329336 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/btc-veri-1.png" alt="" width="1055" height="832"> 
Regarding Bitcoin’s price pullback from an all-time high of over $73,000 to about $65,000, Marzsalek believes this is a healthy move that eliminates some of the accumulated futures positions in the system and shared the following: 
<blockquote> 
 “What we want to avoid are sudden super aggressive spikes. We want to see a steady influx into the industry, Bitcoin, and other crypto assets, which will allow us to work for about 12 to 18 months.” 
</blockquote> 
<h2 class="p2" style="text-align: justify" id="individual-investor-behaviors">Individual Investor Behaviors</h2> 
When asked about the role of individual participants in Bitcoin’s current market dynamics, Marzsalek expressed his belief that there is still a way to go in this cycle and added: 
<blockquote> 
 “We analyze a lot of private data, so we can look at what happened in the 2021 cycle from an individual perspective and compare it to what’s happening now. Looking at the data and process, we are probably in the December 2020 or January 2021 phase as a signal from the individual investor side.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-329335 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/google-veri.png" alt="" width="1058" height="840"> 
Marzsalek noted that the data currently indicate that the movements in Bitcoin’s price are mainly directed by the options market and that this level of volatility is actually quite low compared to previous cycles: 
<blockquote> 
 “I think you will see a stable rise, and that’s what we want. Bitcoin is an asset you will want to hold for decades.” 
</blockquote> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/insights-from-crypto-com-ceo-on-bitcoins-surge-and-market-dynamics/" data-wpel-link="internal">Insights from Crypto.com CEO on Bitcoin’s Surge and Market Dynamics</a></h5>

Insights from Crypto.com CEO on Bitcoin’s Surge and Market Dynamics

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