Bitcoin Smashes $70K, 'Looks Primed For New All-Time Highs,' According To Trader
Portfolio Pulse from Ivan Crnogatić
Bitcoin has surged past $70,000, with traders predicting further gains. Value investor Mike Alfred and analyst Michael van de Poppe highlight macroeconomic factors and high inflation as key drivers. Bitcoin's ETF inflows remain strong, and its role as an institutional asset will be discussed at an upcoming event.
May 27, 2024 | 5:07 pm
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Bitcoin has surged past $70,000, with traders predicting further gains. High inflation and strong ETF inflows are key drivers.
Bitcoin's price surge past $70,000 is driven by high inflation and strong ETF inflows. Traders predict further gains, making it a positive short-term outlook for Bitcoin.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Ethereum has seen a 28% increase over the past week, following the approval of spot Ethereum ETFs.
Ethereum's significant price increase is attributed to the approval of spot Ethereum ETFs, indicating a positive short-term outlook.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50