Price Prediction Of Bitcoin, As Value Exceeds $71,000 With United States Spot Bitcoin ETFs Consistent Inflows
The price of Bitcoin (BTC) has recently experienced a surge, and is ranging about $71,000. A significant level has been around $70,600; which is a pivotal level. Crypto analysts predict that there will be massive surge in price of BTC, due to the green line seen on BTC chart.
The interest of institutional investors in Bitcoin have been growing, even as the United States economic conditions have been rapidly evolving, and there's been remarkable inflows into Bitcoin ETFs. Over the last 16 days, the United States Bitcoin ETFs, have been seeing consistent inflows.
On the 12th of March 2024, the Bitcoin ETFs experienced a new record of the largest inflows of a day; which was about $1.04 billion. However, recently the Bitcoin ETFs experienced a daily inflows of about $886 million; which marks the 2nd biggest inflows of a day.
The interest of investors in Bitcoin continuously increases, as the inflows into the United States spot Bitcoin ETFs remains consistent. This increase in confidence of institutional investors, has the potential of causing the value of Bitcoin to surge, as a result of the rise in demand.