Could Bitcoin Smash Records? Options Market Sees 20% Chance Of $70K By April
Portfolio Pulse from Murtuza Merchant
According to Lyra Finance, there's a 20% chance Bitcoin could exceed $70,000 by the end of April, driven by U.S. spot ETF investments and optimistic market sentiment. This prediction follows Bitcoin's 35% rise to $52,000, its highest since late 2021. The optimism is fueled by U.S. fiscal policies and the anticipated mining reward halving. Lyra, a leading decentralized platform for crypto options, notes early trading activity favors bullish outcomes for Bitcoin.
February 16, 2024 | 3:48 pm
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POSITIVE IMPACT
Bitcoin has a 20% chance of surpassing $70,000 by April's end, influenced by U.S. spot ETF investments and positive market sentiment.
The prediction of Bitcoin potentially reaching over $70,000 is based on current market trends, including a significant 35% increase in its price to $52,000, the highest since late 2021. This uptrend is attributed to substantial investments in U.S.-based spot ETFs and a general bullish sentiment in the cryptocurrency market. Additionally, the anticipation of the mining reward halving in April and expansive U.S. fiscal policies are seen as favorable factors for Bitcoin's value increase.
CONFIDENCE 75
IMPORTANCE 90
RELEVANCE 100