Although the price of Bitcoin recently dropped sharply to below $60,000, the crypto market has returned to the doldrums again.
But soon after, the price of Bitcoin recovered again. and able to maintain its own upward trend As a result, the coin’s price has now broken its all-time high of $70,000 once again.
Although we do not yet know what is the main cause of the Bitcoin price’s upward trend again. But it is expected that it will come from two important factors: JP Morgane’s predictions and BlackRock preparing to buy a Bitcoin ETF into its Global Allocation Fund (MALOX).
Not long ago One of the world’s largest investment firms, JP Morgan, has predicted that over the next three years Bitcoin ETFs could have total inflows of $60 billion. This is similar to the gold ETF which has approximately $96 billion in capital.
JUST IN – JP Morgan report says #Bitcoin ETF inflows could top $60 BILLION over the next 3 years
— Bitcoin Magazine (@BitcoinMagazine) March 8, 2024
In addition, another giant US investment company, BlackRock, has also submitted documents to The US Securities and Exchange Commission (SEC) has announced that they are preparing to purchase Spot Bitcoin ETFs into the Global Allocation Fund (MALOX).
The MALOX fund is a fund that will provide investment returns through a fully managed investment policy. Whether it is US and international equities Debt and money markets This includes companies such as Microsoft and Apple.
Even now, Bitcoin is backed by a number of major investment companies. However, investors are advised to study and evaluate the risks before investing in any assets. Especially cryptocurrencies
Source: Cointelegraph
2024-03-08 15:38:02
#stop #Bitcoin #price #hits #setting #alltime #high
