Bitcoin: Whenever the name of Bitcoin is taken in the world of cryptocurrency, everyone’s heart starts beating fast. It is not just a digital currency, but has become a symbol of the hopes and dreams of crores of people. After the fluctuations in the prices of Bitcoin for the last few months, now the smile is back on the faces of investors again. According to the latest reports, in the next 2 to 3 weeks, Bitcoin can break all its records so far and reach new heights.
Bitcoin’s fast growing journey
On Saturday, Bitcoin touched the important level of $115,762. This was not only a relief news for investors, but according to market analysts, it is also an indication that Bitcoin is again moving towards its all-time high. In fact, in the futures market, Bitcoin touched the level of $117,320 and also completed the big “gap” formed in August. This gap kept investors restless for three weeks, but now its filling is showing strength in the market.
Increased investor confidence
Crypto investor and entrepreneur Ted Pillows believes that if Bitcoin maintains this level completely, the path to a new all-time high (ATH) will open. However, he also warned that if this level proves to be an obstacle, then prices may fall again to $108,000. But the situation does not look like this right now. Crypto experts say that this time the enthusiasm of investors and institutional demand is so high that no one will be able to stop Bitcoin from making a new record.
Institutional investment and the magic of ETFs
Market analysts say that institutional investment is the biggest hand behind this rise of Bitcoin. Recently, a huge inflow has been seen in Bitcoin ETF in the US. In just 5 days, more than $2.3 billion was invested in it. This shows that big investors and institutions are now considering cryptocurrency as a safe option for the future.
Material Indicators co-founder Keith Allen says that $124,500 is not the top of bitcoin. He believes that the demand is so high that prices will go up further in the coming days. He also indicated that the US Federal Reserve may soon cut interest rates, which will give further support to the crypto market.
Confidence received from charts and trendlines
Traders are also now full of hope. According to famous trader Bitbull, bitcoin has again reclaimed its 8-year-old trendline. This level was broken last month, but now it has been regained due to strong confidence and buying of investors.
He says that after such a strong closing, bitcoin can make a new record in the coming 2 to 3 weeks. Similarly, analyst Rekt Capital also says that bitcoin’s bull market is not over yet, but this is the real beginning.
How important are the coming weeks
According to market experts, the coming two to three weeks are going to be very important for bitcoin investors.
- If the price stays above $117K, a new all-time high will be seen soon.
- If institutional investment and ETF money continue to come in, bitcoin can also cross $130K.
- The policies of the US Federal Reserve will also have a direct impact on bitcoin.
- Emotional moment for investors
For those who have been investing in bitcoin for a long time, this time is like a dream come true. Many times there was a situation of decline and fear in the market, but still they did not lose their faith. Today the same faith and patience is going to bring them success.
Bitcoin has always been a unique mix of risk and opportunity. The boom we are waiting for today may become a reality in the coming few weeks. Whether you are an old investor or a new one, this journey of bitcoin is going to connect you both emotionally and financially. Now it remains to be seen how quickly bitcoin creates new history.
Disclaimer: The information given in this article is for general information and educational purposes only. This is not any kind of investment advice. Investing in cryptocurrency is risky, so please consult a financial advisor before investing.
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