Bitcoin Price Prediction as Bulls Reclaim $70,000 Level – Where’s the Next BTC Target?
Bitcoin (BTC) sustained its rise, trading at approximately $70,750 as the cryptocurrency market’s total value approached $2 trillion, currently at $1.97 trillion, marking a 1.75% increase in 24 hours.
Bitcoin’s own market capitalization has exceeded $1 trillion, driven by heightened interest from U.S. investors and substantial investments in Bitcoin spot ETFs.
BlackRock’s BIT Bitcoin ETF has amassed over 250,000 BTC, valued at $17.7 billion, just 11 weeks post-launch, with $323.8 million added on Wednesday alone.
Similarly, Fidelity’s FBTC ETF crossed $10 billion in assets, holding over 143,000 BTC. Ark Invest 21Shares’ ARKB experienced record inflows of $200.7 million, contrasting with Grayscale’s GBTC, which saw a decline of $299.8 million.
The significant inflows into Bitcoin ETFs reflect heightened institutional engagement, potentially driving Bitcoin’s price upward.
Renowned ‘Rich Dad Poor Dad’ author Robert Kiyosaki has elevated his Bitcoin forecast, now envisioning a $100,000 peak by September, primarily due to the anticipated halving event.
Advocating for Bitcoin acquisition, he plans to expand his own holdings before April and suggests even partial purchases of the cryptocurrency, with silver as another viable option.
Highlighting the acquisition of tangible assets such as gold, silver, and Bitcoin, Kiyosaki aligns with MicroStrategy’s Michael Saylor in deeming fiat currency as unreliable.
His increasingly vocal support for Bitcoin, including a prior prediction of a $300,000 value within the year, has significantly influenced the market’s bullish sentiment towards Bitcoin.
Bitcoin (BTC/USD) has soared by 1.75%, reaching $70,613, displaying a bullish momentum in the market. The cryptocurrency is trading above the
