Bitcoin could probably rally over the next 6-12months and hit a new record highs. Here is the latest
BTC this week rose past $60,000 for the first time since November 2021, briefly hitting $64,000 with Bitcoin's market cap now $1.2 trillion. So why could Bitcoin continue to rally and hit new records over the next 6-12 months?
- Secondly, ETF demand is booming. There is now $40 billion invested in BTC ETFs. Over $6 billion was invested in the last 30 days into one ETFs alone, the IBIT.
- Thirdly, BTC will probably be supported by the US Federal Reserve cutting interest rates, which is expected in June.
Now as I mentioned in January, Bitcoin halving. is expected to occur in mid to late April. It effectively reduces Bitcoin supply, while demand continues. This is why after each halving, the BTC price saw significant moves over 6-12 months, repeatedly hitting new records.
- BofA's Merrill and Wells Fargo''s brokerage unit are offering access to ETFs that invest directly in the token, people familiar said. Bitcoin’s surge toward a record cooled, with traders warning that the breakneck pace was unsustainable.
- Anthony Scaramucci is betting Bitcoin will double in the next 18 months. His SkyBridge hedge fund has returned 16% this year on the token's rally.
This year, we've already seen $6 billion flow into the cheapest BTC ETF on the market, $iShares Bitcoin Trust(IBIT.US$ $3.8 billion of that was over the last 30 days. For more on which Bitcoin ETFs are gaining funds vs which are losing click here.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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Moomoo Official Market Strategist
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Tonyco : why would anyone care what scaramucci does or says? creepy trumpian swindler