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Bitcoin is predicted to reach $ 50,000 in the near future
The flagship of the cryptocurrency market is approaching the $ 50,000 mark, and investor interest in recently launched Bitcoin ETFs is growing. According to a recent report by Bloomberg, the bitcoin rate is on the rise, showing daily gains for seven consecutive days.
Over the past few days, inflows into bitcoin ETFs have surged, mimicking the first few days of the ETF’s launch. A month after the launch, inflows into the ETF exceeded $ 9 billion, reaching $ 405 million in one day. Bloomberg’s senior ETF analyst James Seyffarth shared news of the third largest inflows since launch, despite GBTC’s rapid outflows from Grayscale.
From the first days of its existence, GBTC has attracted attention by dominating the ETF markets. Given the high trading volumes, analysts and enthusiasts believed that GBTC would continue its successful path. However, over the past few days, GBTC has started to fall, paving the way for BlackRock’s IBIT and Fidelity’s FBTC. Caroline Bowler, CEO of cryptocurrency company BTC Markets Pty, commented that there are signs of «growing institutional money moving into this asset class.»
In addition to the hype around the BTC-ETF, the growth of the market’s flagship is also influenced by the approaching halving. Analysts have predicted a 190% rise in BTC $60,750.32 Bitcoin -1.36% Market capitalization $1.2 trillion VOL. 24 hours $1.44 billion over the next 6 months. According to Bloomberg, Fundstrat Global Advisors claims that bitcoin sentiment is «generally positive» during the Lunar New Year holidays.
As a reminder, analyst Dave Wave expects bitcoin’s value to soar to a new record in 2025. The expert’s prediction is based on an assessment of bitcoin’s logarithmic monthly moving average (LMACD), a long-term momentum indicator, as well as Fibonacci retracement levels that track potential support and resistance zones. Looking at his chart, the trader assumes that BTC has reached the bottom of the market and is in an uptrend that will reach almost $ 200,000 by October 2025.