Get Smarter About Crypto

₿itcoin reached $59,262. +4.15%

♢Ethereum reached $3,304. +1.63%

What we will talk about today...

📈🚀 Bitcoin Close to $60,000

🌐🌎 What BlackRock Says About Investing in Bitcoin

💰🔥 Bitcoin’s Future Price Target to $200,000

Bitcoin Close to $60,000 after 3.8% daily gain

Bitcoin has risen a lot and is near $60,000, the highest since November 2021. This is because of several factors that have made the market more bullish.

📈 More Gains, More Momentum: 

Bitcoin, or BTC, rose 3.79% in 24 hours, reaching $58,504 at 8:20 am UTC. This is a big achievement as Bitcoin is back to the levels before it dropped from its record high of $68,789.

Bitcoin has also done well in the past week and month, rising over 13.5% and 38%, according to CoinMarketCap data.

🏦 More Buyers, More Confidence: 

One factor that helped Bitcoin’s rise is the big purchase by Michael Saylor’s MicroStrategy, which bought 3,000 BTC for $155 million. This adds to MicroStrategy’s huge Bitcoin holdings, which are 193,000 BTC bought for $6.09 billion at an average price of $31,544. MicroStrategy is the biggest Bitcoin holder among public companies.

Mikkel Morch, founder of the digital asset investment fund ARK36, says that MicroStrategy’s purchase shows that big investors trust Bitcoin and its potential. Morch says that this rise is not just numbers on a chart; it’s a sign of support from big investors, especially when the U.S. might approve Bitcoin ETFs soon.

🌐 More Growth, More Possibilities: 

The total crypto market value increased 2.85% in 24 hours to $2.19 trillion. The crypto market is over $2 trillion again, showing the growing importance of digital assets. As Bitcoin keeps rising, Morch thinks that we could see a new record high for both Bitcoin and Ether (ETH) in the next weeks. This is because of the upcoming Bitcoin halving and the possible approval of a U.S. spot Ether ETF.

The high trading volumes of spot Bitcoin ETFs also show that the crypto market is maturing and becoming more accepted and connected with the traditional financial system.

As Bitcoin is close to $60,000 and the market changes, the crypto community is ready for new events and changes that could change the future of digital money.

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What BlackRock Says About Investing in Bitcoin

BlackRock, the biggest money manager in the world, says that investors should put 28% of their money in Bitcoin. This comes from a private event where they talked about their Bitcoin ETF, IBIT, which is a product that tracks the price of Bitcoin.

More Interest in Bitcoin

BlackRock’s executives were surprised by how much interest there was in Bitcoin from different big investors. This shows that the traditional money sector might be changing its view on cryptocurrency.

Why 28% Bitcoin?

A math analyst at the event explained how to value and model Bitcoin in portfolios, suggesting 28% Bitcoin, especially for more careful big investors.

Questions and Answers

Some experts doubt that such a high Bitcoin allocation is possible. BlackRock says that it’s just an idea, not a real plan in their funds. They also mention a paper that supports high Bitcoin allocation to back up their idea.

As the crypto space changes, BlackRock’s bold move adds a new twist to the crypto talk, mixing interest with doubt. 🌐📊

Bitcoin’s Future Price Target to $200,000

Peter Brandt, a trader with a lot of experience, has changed his prediction for Bitcoin’s price in the current bull market cycle. With Bitcoin rising to $57,000 and breaking records for nine Bitcoin ETFs, Brandt shared his new views on X.

📈 Bitcoin Price Target Change:

Looking at his chart, Brandt pointed out a big change – the break above the top of the 15-month channel. Because of this, he raised the price target for the current bull market cycle, which will end in Aug/Sep 2025. The new target is $200,000, much higher than the previous target of $120,000. Brandt, however, warned that this view would be wrong if the price closed below last week’s low.

📊 Bitcoin’s Strong Bull Trend:

Brandt has always stressed the importance of certain price patterns for Bitcoin’s bull trend. In January, he mentioned the ‘Hump…Slump…Pump…Dump’ pattern as a key factor for Bitcoin’s positive direction. This view matches his overall bias, thinking that Bitcoin is a good way to store value when fiat money loses value.

🔄 Bitcoin Halving and Doubt:

While Brandt is positive about Bitcoin, he is doubtful about the effect of the Bitcoin halving on the price. The Bitcoin halving, which will lower the number of new bitcoins created, is coming soon. In December of last year, he said that the Bitcoin halving hype was ‘nothing to be excited about,’ saying that the decrease in supply compared to daily volume is small. He also warned against trusting the U.S. SEC chairman, Gary Gensler, saying that Gensler did not protect investors well in the past.

As Bitcoin goes through the risky market, Peter Brandt’s views offer a balance of hope and caution, showing the complex factors that affect the world of digital assets. 🚀💰

CAN YOU PREDICT THE PRICE?

HOW DID WE DO? 🤷

Stay tuned for more twists and turns in the crypto world & Happy Investing🚀💎