Bitcoin has not yet peaked in its current cycle of appreciation and is probably going to surpass its all-time high this year.
Prior to its recent consolidation into a range between approximately $59,000 and $72,000, Bitcoin reached an all-time high of above $73,700 in March.
The March record high was mostly fueled by the January approval and introduction of spot bitcoin exchange-traded funds, or ETFs, in the United States.
A market data source specialising in digital assets, they have seen net inflows of over $14.41 billion thus far.
Without having to hold the underlying cryptocurrency, investors can purchase an ETF that tracks the price of bitcoin.
Supporters of cryptocurrencies claim that this has aided in the asset class’s legitimacy and made it simpler for bigger institutional investors to participate.
Source (CNBC)
