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This rise occurs on the weekend, when the ETFs are not operational.
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There are signs that retail capital is returning to Bitcoin.
The bull run of bitcoin (BTC) does not stop. On the night of November 5, when the first results of the United States elections began to be known, BTC broke the all-time high it had set in March, exceeding $73,800.
The following days, BTC It continued to rise and at the time of this publication it is approaching $80,000, a figure that could touch at any time, as can be seen in the chart provided by TradingView:
Historical bitcoin price chart. Fountain: TradingView.
Interestingly, this rise is occurring on the weekend, when bitcoin ETFs are not operational. It may be thought that retail capital is driving price.
Regarding the latter, it is useful to look at the Google search statistics for the word “bitcoin”. There you can see that there is a significant rebound in November compared to the previous month. In any case, it does not reach the levels of 2017 or 2021 when search peaks were recorded on Google:
Google searches for the term “Bitcoin”. Source: trends.google.com
The Argentine communicator Manuel Terrones Godoy, also known as kManuS commented in this regard: «ATH after ATH but without flying in trends. What a nice cycle is coming.
By saying this, Terrones Godoy refers to the fact that large capital would need to come in from retail investors who are not interested in bitcoin, yet.
CriptoNoticias has reported that Expectations for the remainder of 2024 and 2025 are, in general, very bullish for bitcoin.
Investment company analysts BernsteinFor example, they believe that the digital currency will reach $90,000 before the end of this year. And they also assure that it will reach $200,000 next year according to their projections.
The trading specialist Iván Paz Chain appears slightly more moderate. He says that he is projecting bitcoin to reach $140,000 in 2025. In any case, he clarifies that we must constantly review data to readjust the projections if necessary.
Clarification: This article is written for informational purposes. It does not constitute an investment recommendation or financial advice. Each investor is responsible for conducting his or her own research.
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