3 reasons why Bitcoin’s price is primed to hold the $30,000 level as support
2 min read
Bitcoin (
Bears will have a tough time given the markets’ expectation of a ETF approval potential
Natalie Brunell, an award-winning TV journalist, podcast host, and educator in the Bitcoin space, spoke to Cointelegraph on how crypto is now being taken more seriously as an asset class by institutional investors, as evident by the multiple Bitcoin ETF filings, including some of the world’s largest asset fund managers.
Speaking on Fox Business on July 5, Larry Fink, the CEO of BlackRock, also said that Bitcoin’s role was largely “digitizing gold,” suggesting U.S. regulators consider how a spot-based ETF could democratize finance. Fink suggested that investors could turn to Bitcoin as a hedge against inflation or the devaluation of certain currencies.
So, in a more birds-eye-view, those questioning whether Bitcoin is poised for a correction after a rally fueled by ETF hype, the resilience of traders’ bullish conviction and lack of excessive optimism observed in the BTC margin, need to relax.
Bitcoin options, and futures markets indicate that challenging times are ahead for Bitcoin bears and those expecting a sharp price correction solely due to regulatory and recessionary concerns.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
