Bitcoin

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-reaches-new-two-year-high-despite-economic-uncertainty/" data-wpel-link="internal">Bitcoin Reaches New Two-Year High Despite Economic Uncertainty</a><br></p>
<p style="text-align: justify">Despite the latest inflation data and weakening expectations for interest rate cuts, BTC has set a new peak for the past two years. BTC rose to $52,043, thus revising the peak in January upwards. Does the recent increase in BTC price indicate the end of the rise? What does the current outlook tell us?</p> 
<h2 style="text-align: justify" id="bitcoin-btc">Bitcoin (BTC)</h2> 
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/imminent-decision-on-spot-bitcoin-etf-by-sec/" data-wpel-link="internal">Bitcoin</a></strong>‘s market value once again surpassed the $1 trillion threshold, and <strong>spot Bitcoin ETFs</strong> saw over $600 million in net inflows on February 13. To better understand the size of the total inflow, it might be sensible to compare it with miner issuance. The $600 million in BTC roughly corresponds to ten times the total daily issuance. After the halving in April, this will be twenty times the newly issued supply.</p> 
<p style="text-align: justify">Anthony Pompliano, founder of Pomp Investments, highlighted in an interview with CNBC that due to 80% of Bitcoin’s total supply being inactive, only $200 billion worth of assets can be traded. Therefore, the $600 million inflow corresponds to a much larger figure when considered in terms of the available supply for sale.</p> 
<p style="text-align: justify">On February 13, the greed index once again rose to 79, one of its historically high levels. We last saw this during the price’s all-time high journey in mid-November 2021.</p> 
<h2 style="text-align: justify" id="bitcoin-price-prediction">Bitcoin Price Prediction</h2> 
<p style="text-align: justify">Risk appetite is increasing, ETF inflows are fueling excitement, and there’s strong buyer demand at lower levels. All these indicate the potential to see a larger peak before the halving. The price initiated the next phase of the rise by breaking the $48,970 resistance two days ago. The long tail in the candlestick following the recent decline indicates strong buying.</p> 
<p style="text-align: justify">The rising 20-day exponential moving average ($45,826) serves as motivation for buyers, but the RSI suggests that the ongoing price movement is faster and more extreme than expected. Accordingly, a new interim correction in the coming days would not be surprising.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="wp-image-314833 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/Bitcoin-Hedef-.png" alt="" width="1199" height="665"></p> 
<p style="text-align: justify">If we see closures below $48,970 in a potential decline, it could jeopardize the continuation of the rise. However, if <strong>BTC</strong> consistently stays above $52,000, the clear target will be $60,000. At the time of writing, the Bitcoin price was at $51,659.</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-reaches-new-two-year-high-despite-economic-uncertainty/" data-wpel-link="internal">Bitcoin Reaches New Two-Year High Despite Economic Uncertainty</a></h5>

Bitcoin Reaches New Two-Year High Despite Economic Uncertainty

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