Bitcoin To $140K In 2 Weeks? Here's What Happens After It Hits New Highs
Portfolio Pulse from Adam Eckert
Bitcoin (BTC) reached new all-time highs, briefly surpassing $69,000, driven by demand following spot Bitcoin ETF approvals and anticipation of the April halving event. Anthony Pompliano of Pomp Investments highlighted the significant inflows into Bitcoin ETFs, notably Blackrock's, which added $1 billion in a day, now totaling over $11 billion. Despite a recent pullback to around $65,000, Pompliano suggests Bitcoin's price could surge, potentially doubling in less than 18 days, similar to past trends post-new highs.
March 05, 2024 | 6:22 pm
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Bitcoin reached new all-time highs, driven by demand following spot Bitcoin ETF approvals and anticipation of the April halving event. Significant inflows into Bitcoin ETFs, notably Blackrock's, suggest a bullish outlook.
The recent surge in Bitcoin's price, reaching new all-time highs, is attributed to the approval of spot Bitcoin ETFs and the upcoming halving event. These factors have led to significant demand exceeding supply, as evidenced by massive inflows into Bitcoin ETFs, particularly Blackrock's. Historical trends suggest that Bitcoin's price could potentially double in a short period post-new highs. However, the market's volatile nature and the recent pullback to around $65,000 introduce some uncertainty, hence the confidence score of 80.
CONFIDENCE 80
IMPORTANCE 100
RELEVANCE 100