Latest Trends and Forecasts for Bitcoin and Ethereum: Institutional Interest, Volatility, and the Impact of ETFs
Recently, the interest of major investors in cryptocurrencies, particularly Bitcoin and Ethereum, remains high.
These cryptocurrencies continue to be at the center of financial news as market factors indicate potential growth, albeit with high volatility.
Key Trends in Bitcoin
Bitcoin Price in 2024: The price of Bitcoin began its journey at around $43,835 at the start of January. Influenced by positive expectations regarding the approval of Bitcoin ETFs, the price quickly surged, reaching a new historical high of $73,750 on March 14. By the end of March, after a slight decline, the price stabilized at around $66,036.
Institutional Interest: This year, major investors and "whales" continue to actively accumulate Bitcoin. This is linked to expectations of an upcoming meeting of the U.S. Federal Reserve, which may impact risk assets, including Bitcoin.
Consolidation and Growth Expectations: From spring to autumn, the price of Bitcoin fluctuated within the range of $60,000 to $73,000, remaining under the influence of market events such as regulations and preparations for the upcoming halving, which traditionally boosts interest in cryptocurrencies.
Current Situation: As of the end of October 2024, the price of Bitcoin remains above $70,000, thanks to sustained interest from institutional investors and expected capital inflow through ETFs.