Can Bitcoin surpass the $100K mark in 2024?
Bitcoin has been breaking multiple All-Time Highs, following Trump’s victory in the US Presidential Elections. From the much-anticipated $75,000 mark on November 6th to the current $87,000 today. This rally, combined with the increasing investor participation indicates that we have entered a strong bull run increasing Bitcoin’s market cap to $1.7 trillion for the first time since its launch.
Breaking one ATH after the other, Bitcoin has gained enough momentum to break the psychological mark of $100,000 within the year end. BTC is just $13,000 away from the $100K mark.
Steady ETF inflows:
Bitcoin Spot ETFs saw a consistent increase since the elections with net inflows standing at nearly $2 billion in just a week. The growing acceptance of spot ETFs simplify the investment process for institutional players and traditional investors, who can now easily gain exposure to Bitcoin without directly holding the asset. This steady inflow into ETFs is one of the major driving factors for the price action in BTC’s price and over the next few weeks, more funds from institutions will move to ETFs contributing to the next leg of rally to $100,000.
Increasing Retail Participation:
Did you Know?
The world of cryptocurrencies is very dynamic.
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