A bullish sun will shine over Bitcoin in the next 24 hours and week, indicating additional upside potential.
The cryptocurrency trend was positive over the past 24 hours, driven by the strong quarterly results released by the American chipmaker Nvidia yesterday evening.
The institutional digital asset summit held by BlackRock later today may push the price of Bitcoin further up. The world’s largest asset manager is expected to promote its spot Bitcoin exchange traded fund (ETF),
IBIT, to institutional investors during this event. Assets under management in this ETF reached $6.3 billion five weeks after its launch in mid-January.
The market capitalization of cryptocurrencies is now oscillating around $2 trillion, with that of Bitcoin representing half of it. The price of Bitcoin rose 0.1 percent to $51,839 over the past 24 hours.
The Head of Research at Fundstrat, Tom Lee, expects this price to reach $150,000 during 2024, he said when interviewed by CNBC. Its price will be buoyed by the launched spot Bitcoin ETFs in the US, Bitcoin’s upcoming halving in April as well as upcoming rate cuts, Lee said.
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The cryptocurrency trend was positive over the past 24 hours, driven by the strong quarterly results released by the American chipmaker Nvidia yesterday evening.
The institutional digital asset summit held by BlackRock later today may push the price of Bitcoin further up. The world’s largest asset manager is expected to promote its spot Bitcoin exchange traded fund (ETF),
IBIT, to institutional investors during this event. Assets under management in this ETF reached $6.3 billion five weeks after its launch in mid-January.The market capitalization of cryptocurrencies is now oscillating around $2 trillion, with that of Bitcoin representing half of it. The price of Bitcoin rose 0.1 percent to $51,839 over the past 24 hours.
The Head of Research at Fundstrat, Tom Lee, expects this price to reach $150,000 during 2024, he said when interviewed by CNBC. Its price will be buoyed by the launched spot Bitcoin ETFs in the US, Bitcoin’s upcoming halving in April as well as upcoming rate cuts, Lee said.
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The cryptocurrency trend was negative over the past 24 hours, with both Bitcoin and Ether falling back on profit taking. The price of Bitcoin dropped 1.4 percent to $51,066 over the past 24 hours.The two largest cryptocurrencies have both risen around 30 percent over the past month, amongst others supported by the launch of nine spot Bitcoin exchange traded funds (ETFs) five weeks ago.
Still, ATTMO forecasts that Bitcoin, Ether, Binance Coin and Polkadot will see a bullish sun shining over them in the next 24 hours and week, indicating further upside potential.
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Cryptocurrencies continued to rally on Tuesday, with Bitcoin trading as high as $57,051. This level is less than 17 percent away from Bitcoin’s all-time high (ATH) of $68,789 reached on November 10, 2021.As of Monday, the total net flow into the ten approved spot Bitcoin exchange traded funds (ETFs) reached just over $6 billion for the period Jan 11 to Feb 26, data from BitMEX Research shows. These inflows as well as the upcoming halving of Bitcoin during the second half of April support its price.
The price of Bitcoin rose 1.6 percent to $57,053 over the past 24 hours, while that of Ether put on 0.9 percent to $3,260. The combined market capitalization of the two cryptocurrencies makes up 65 percent of the crypto space.
The bullish sun will continue to shine over the global crypto market in the next 24 hours and week, signaling further upside for Bitcoin, Ether, Ripple’s XRP, Cardano and other altcoins covered by ATTMO.
However, Litecoin, Binance Coin, Dogecoin and Polygon face bearish clouds over the next 24 hours, indicating downward pressure, but they should profit from the bullish sun and a positive trading conditions over a one-week horizon.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.