Home
Calendar
Latest images
FAQ
Search
Memberlist
Usergroups
Register
Log in
AdminAdmin- Posts : 2
Join date : 2024-04-08 
BlackRock’s Bitcoin ETF Sees Record Inflow as Bitcoin Surpasses $64,000: A Sign of Crypto’s Resurgent Boom?
Mon Apr 08, 2024 2:58 pm
Any Bitcoin enthusiast would remember the Crypto winter of 2022, that was the time when the digital asset lost all momentum and trust of investors in terms of being a value adding investment. However, things took a sharp turn on 29 Feb 2024 when Bitcoin breached all areas of value addition and went up to a behemoth $63,933 overnight.
This was the zenith that the digital asset could reach as far as expectations are concerned. This happened in wake of introducing Bitcoin traded ETFs (Exchange Traded Funds) which pushed the demand several notches higher in the United States. The most benefiting group regarding this affair was Black Rock’s iShare Bitcoin Trust which received a whopping $550 million as investments. Let us know more about this development and know its repercussions and will the appreciation of Bitcoin be sustained.
A virtual representation of Bitcoin
(Source: www.pixabay.com)
Cryptomarkets and Their Road to Recovery
A piece on Forbes published on 13 Feb 2024 tells us about the preceding performance of Crypto assets, At the beginning of 2023 Crypto currencies like Bitcoin and Ethereum were trading in green. The value was $42000 at the start of the year 2023. Until 2024’s February the prices were just barely touching $50000 but the prices shot up rapidly and the worth of the asset has become $64000, and that’s yesterday on 29 Feb 2024.
Ethereum too is worth $3200 now, which was just $1852 in the early months of 2023. The dynamism in the Crypto market as per the Forbes piece has a lot to do with factors directly affected by US government actions. The weakening dollar index and controlled inflation helped people to preserve their investments in Crypto, along with the SEC allowing 10 Bitcoin ETFs to trade similarly to stocks. ETFs also gave a safety net to the volatility of price flexibility of Bitcoins by not trading it directly but using options, futurism swaps, and other various kinds of derivatives that protect an investor’s money.
A Business Standard Piece where their team recorded the statements of Tony Sycamore, Analyst at Brokerage IG Markets, on 29 Feb 2024, where he says that the recent uptick in the Crypto selling is an indication of a possible all-time high increase in value more than the November 2021 record of the digital currency.
Read More :- https://skrillnetwork.com/blackrocks-bitcoin-etf-sees-record-inflow-as-bitcoin-surpasses-64000-a-sign-of-cryptos-resurgent-boom
This was the zenith that the digital asset could reach as far as expectations are concerned. This happened in wake of introducing Bitcoin traded ETFs (Exchange Traded Funds) which pushed the demand several notches higher in the United States. The most benefiting group regarding this affair was Black Rock’s iShare Bitcoin Trust which received a whopping $550 million as investments. Let us know more about this development and know its repercussions and will the appreciation of Bitcoin be sustained.
A virtual representation of Bitcoin
(Source: www.pixabay.com)
Cryptomarkets and Their Road to Recovery
A piece on Forbes published on 13 Feb 2024 tells us about the preceding performance of Crypto assets, At the beginning of 2023 Crypto currencies like Bitcoin and Ethereum were trading in green. The value was $42000 at the start of the year 2023. Until 2024’s February the prices were just barely touching $50000 but the prices shot up rapidly and the worth of the asset has become $64000, and that’s yesterday on 29 Feb 2024.
Ethereum too is worth $3200 now, which was just $1852 in the early months of 2023. The dynamism in the Crypto market as per the Forbes piece has a lot to do with factors directly affected by US government actions. The weakening dollar index and controlled inflation helped people to preserve their investments in Crypto, along with the SEC allowing 10 Bitcoin ETFs to trade similarly to stocks. ETFs also gave a safety net to the volatility of price flexibility of Bitcoins by not trading it directly but using options, futurism swaps, and other various kinds of derivatives that protect an investor’s money.
A Business Standard Piece where their team recorded the statements of Tony Sycamore, Analyst at Brokerage IG Markets, on 29 Feb 2024, where he says that the recent uptick in the Crypto selling is an indication of a possible all-time high increase in value more than the November 2021 record of the digital currency.
Read More :- https://skrillnetwork.com/blackrocks-bitcoin-etf-sees-record-inflow-as-bitcoin-surpasses-64000-a-sign-of-cryptos-resurgent-boom
Permissions in this forum:
You cannot reply to topics in this forum|
|
|