Add it for Bitcoin and continue. The main cryptocurrency on the market gained 1.5% this Thursday, reaching 52,480 euros, surpassing the maximum values reached in December 2021. So far this year, The popular cryptocurrency gained 24.5% and 113% in the last twelve months.
Recent increases in Bitcoin, capitalization over trillion dollarsWith a transaction volume of 37,000 million dollars, the annual average is well above 20,000 million. Some analysts, such as Citibank Europe’s Damian Nowiszewski, believe there are reasons for this Bitcoin is heading towards $60,000because there is resistance (the recent highs are $58,000, $63,258, and $65,520, these are the all-time highs).
Gold is losing its strength
While mainstream gold exchange-traded funds (ETFs) have recorded outflows of 2.225 million euros so far this year, according to Bloomberg, cryptocurrency flows are not attracting the assets’ interest. According to Farside data, the 10 approved bitcoin spot ETFs have seen a total of €3.622 billion in inflows and record volume since their launch on January 11. Fund traded on Tuesday Black Rock The company, which specializes in Bitcoin, recorded net inflows of approximately $500 million; This shows investors’ appetite for this financial asset.
However, Bloomberg ETF analyst Eric Balchunas does not believe that gold ETF investors are migrating en masse to bitcoin ETFs: “But it’s more of a fear of losing momentum in stocks.” United States of America”.
Related news
In January, this approval did not cause a major rise in Bitcoin, as it was news that was eagerly awaited by investors and was already reflected in the prices of crypto assets. Caroline Bowler, general manager of the cryptocurrency platform BTC Markets, pointed out that there are signs of an uptrend in an interview with ‘Bloomberg TV’ this Monday. “Increased movement of institutional money” towards this being key.
It has been on the rise for nine days
Bitcoin has gained for nine consecutive sessions, a milestone it has not achieved since January last year. At the time, Terra USD began to recover lost ground after sinking due to the collapse of its stablecoin and the start of tightening interest rates to combat inflation. In 2022, Bitcoin experienced the worst year in its history, losing 65%.
Source: Informacion
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