Analyst: ETF hopes reignite, Bitcoin once again aims for $50,000
Some analysts have stated that Bitcoin has recovered most of the losses recorded when the ETF was approved nearly a month ago as a selling news event. Hopes for an expanded investor base have been reignited, with cryptocurrency traders once again setting their sights on a price of $50,000. On Friday, Bitcoin rose by about 6.3%, briefly reaching over 48,000 yuan. Since December 2021, the trading price of this cryptocurrency has not exceeded $50,000. Currently, the accessibility of ETFs is expected to expand the token's investor base and so far new funds have attracted around $8 billion in net inflows. However, since conversion, Grayscale has lost more than $6 billion indicating that funds are not all flowing in one direction.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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