Bitcoin Price Predicted To Rise Due To 'Demand And Supply Dynamics,' Says Analyst As King Crypto Rebounds 10% In Last 7 Days
Portfolio Pulse from Benzinga Neuro
Bitcoin is expected to rise due to demand outstripping supply, according to crypto analyst Ali Martinez. The price of Bitcoin has rebounded 10% in the last 7 days, with long-term holders adding more BTC to their positions. Institutional interest in spot Bitcoin ETFs has also contributed to the positive market sentiment.
May 18, 2024 | 5:49 am
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Bitcoin is expected to rise as demand outstrips supply, with long-term holders adding more BTC to their positions. Institutional interest in spot Bitcoin ETFs has also contributed to the positive market sentiment.
The analysis by Ali Martinez highlights the demand-supply dynamics favoring Bitcoin's price increase. The accumulation by long-term holders and institutional interest in Bitcoin ETFs further support the bullish outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Dogecoin has seen gains this week due to increasing institutional interest in spot Bitcoin ETFs, which resulted in $1.3 billion inflows in the last two weeks.
Dogecoin's price movement is positively influenced by the overall bullish sentiment in the crypto market driven by institutional interest in Bitcoin ETFs.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Ethereum has seen gains this week due to increasing institutional interest in spot Bitcoin ETFs, which resulted in $1.3 billion inflows in the last two weeks.
Ethereum's price movement is positively influenced by the overall bullish sentiment in the crypto market driven by institutional interest in Bitcoin ETFs.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Shiba Inu has seen gains this week due to increasing institutional interest in spot Bitcoin ETFs, which resulted in $1.3 billion inflows in the last two weeks.
Shiba Inu's price movement is positively influenced by the overall bullish sentiment in the crypto market driven by institutional interest in Bitcoin ETFs.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50