Bitcoin

Bull Market

Rekt

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-soars-as-etf-inflows-and-halving-event-stir-the-market/" data-wpel-link="internal">Bitcoin Soars as ETF Inflows and Halving Event Stir the Market</a><br></p>
<p style="text-align: justify"><a href="https://coin-turk.com/kripto-para-piyasasi-yonunu-yukari-cevirdi-bitcoin-kritik-direnc-seviyesini-asti" data-wpel-link="internal">Bitcoin</a> maximalists are currently divided. Is the capital inflow from the newly introduced ETFs or the anticipated supply shock from the halving event driving <strong><a href="https://coin-turk.com/bitcoin-neden-yukseliyor-uc-ana-maddede-btc-yukselisini-inceledik" data-wpel-link="internal">BTC</a></strong> to new heights? It’s difficult to provide a clear answer to this question. For investors, the primary concern is that the price of <a href="https://en.coin-turk.com/bitcoin-and-ethereum-market-analysis-reasons-for-low-risk-appetite/" data-wpel-link="internal">BTC</a> should rise, regardless of which factor has an impact.</p> 
<h2 style="text-align: justify" id="etfs-bolster-bitcoin-s-rise">ETFs Bolster Bitcoin’s Rise</h2> 
<p style="text-align: justify"><a href="https://en.coin-turk.com/why-bitcoin-is-a-better-investment-than-gold-according-to-googles-ai-platform/" data-wpel-link="internal">Bitcoin</a>‘s surge to $73,777 from $38,500 in the first quarter of 2024, an increase of over 68%, is largely attributed to the emergence of new US spot BTC ETFs. During this period, these ETFs saw an inflow of $12 billion, pushing their total assets beyond $59 billion and elevating BTC’s market value above $1 trillion.</p> 
<p style="text-align: justify">Fred Krueger, a Bitcoin maximalist and seasoned investor, crunched the numbers and predicted a bullish trajectory for BTC, expecting a price tag of $195,000 by the end of 2024. Sharing his views on platform X, Krueger emphasized the significant role of ETF inflows in driving the 2024 bull market cycle, stating:</p> 
<blockquote> 
 <p style="text-align: justify">“We are in the 2024 Bull Market at $70,000 and a market value of $1.4 trillion. We will probably secure another $50 billion inflow this year. Multiply that by 50, and you get $2.5 trillion. This puts us at a market value of $3.9 trillion or a BTC price tag of $195,000.”</p> 
</blockquote> 
<p style="text-align: justify">Krueger anticipates that the driving force behind this surge, signaling a closer relationship between traditional finance systems and Bitcoin, will be traditional finance (TradFi) ETFs.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-335840 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/btc-yorum-coin-turk-com-.png" alt="" width="584" height="656"></p> 
<h2 style="text-align: justify" id="the-halving-event-a-catalyst-or-a-conundrum">The Halving Event: A Catalyst or a Conundrum?</h2> 
<p style="text-align: justify">While ETF inflows dominate Krueger’s bullish forecast, he does not dismiss the impact of Bitcoin’s halving event. Although traditionally seen as a supply shock that could trigger price increases, Krueger believes its effect might be diminishing.</p> 
<p style="text-align: justify">Krueger suggests that the halving could soften price declines but may have a limited effect in sparking a significant rally, commenting, “I think the halving opens the way for the rally.”</p> 
<p style="text-align: justify">With Bitcoin trading below $70,000, recent market movements have sent mixed signals. BTC briefly tested the $68,000 range before recovering to $69,000 after a dip below $70,000.</p> 
<p style="text-align: justify">Rekt Capital, a respected crypto market analyst, remarks on Bitcoin’s weekly candlestick closing above $71,200. The analyst views this move as a breakout, following the previous cycle’s all-time high of $69,000.</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-soars-as-etf-inflows-and-halving-event-stir-the-market/" data-wpel-link="internal">Bitcoin Soars as ETF Inflows and Halving Event Stir the Market</a></h5>

Bitcoin Soars as ETF Inflows and Halving Event Stir the Market

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