Bitcoin made a huge pump yesterday, setting all-time price high. However, it's saw a instant 15% drop shortly after hitting 69k price and it's drop to 59k.
I think this correction was necessary for next pump and reach a new all time high price. Large liquidations occurred during the dump, indicating many long positions were closed out even shorts portions are also liquidated as price recover from 59k soon.
I believes Bitcoin will now continue its upward trend. Key price targets to hit $73,000-$76,000 soon, based on different news retailers are running for buying Bitcoin etfs.
There are a bunch of things that can influence Bitcoin's price. Things like how people feel about the market, what's happening in the global economy, any new rules or regulations, and even how much interest big institutional investors have in Bitcoin.
Today, one thing that caught a lot of attention was the money flowing into Bitcoin ETFs from Blackrock , Fidelity and more.
It's hard to say where Bitcoin is headed next. The price can be pretty unpredictable. But one thing's for sure that the big institutions are getting into Bitcoin through ETFs is a sign that it's being taken seriously as an investment. And as the global economy continues to change, Bitcoin's role as a way to protect against inflation and store value might become even more important.
Looking further ahead, my longer-term prediction is to potential prices of $95,000 and even $100,000. Supporting this bullish outlook is Bitcoin's positive momentum on longer term, there is still chance to hit 100k before the trend changes.
For now, i remains confident in the ongoing bull market, though some people are bearish but continue on this money flow and the way institution investments are coming I think will continue this mini bullrun atleast till halving for sure.
Thank you
Best Regards,
@nusuranur
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