How much will Bitcoin price increase?

This rise is due to the increasing interest of investors and the
Bitcoin It was supported by positive inflows into exchange-traded funds (ETFs). At the time of publication, BTC’s price was trading at $57,073, up 10% in the last 24 hours.

Bitcoin The last time its price traded above $57,000 was December 2, 2021, when it reached its peak and then began entering an extended bear market. By January 24, 2022, Bitcoin price $57,000 It fell to $32,987, down 42% from its last level.

BTC’nin There are several factors driving the current price movement; spot among these Bitcoin ETFs constant influx of investments, the upcoming supply halving, and a generally positive investor sentiment among both retail and institutional investors.

institutional investors by Purchases are made constantly. Bitcoin’s latest rally, business intelligence firm
MicroStrategy’nin It comes after it announced it had purchased another 3,000 BTC for a total of $155 million at an average price of $51,813 between February 15-25. The company’s founder and president, Michael Saylor, said in a post on X on February 26: MicroStrategy’nin He said he held 193,000 Bitcoins at an average price of $31,544 for a total of $6.09 billion.

Moreover, Farside Investors According to data, there have been nine new spots since they went public on January 11.
Bitcoin ETF’i He has accumulated 300,000 BTC worth a total of $17 billion. Net inflows have now exceeded $6 billion.

Bitcoin The decreasing supply and continuation of strong demand in the market indicate an increase in BTC prices in the short term. In particular, Bitcoin exceeding the $57,000 level and approaching the $68.6K peak of $68.6K set 27 months ago by 19.9% ​​changed the dynamics in the market. According to market intelligence firm Santiment, Bitcoin is currently at a critical point and traders to BTC Its interest has reached extremely high levels, with altcoins temporarily relegated to the background. During this period, the market value of BTC has exceeded 1.1 trillion dollars at the time of writing.

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On the other hand, Bitcoin The upcoming “Bitcoin halving” event is cited as an important factor supporting its price. Founder and CEO of Bitcoin rewards app Lolli Alex
Adelman, BTC The latest increase in price is due to the next increase in April this year. “Bitcoin halving” He states that it marks the actual beginning of a new bull market. According to Adelman, a key reason for this rally is that there is no major catalyst. Instead, Bitcoin’s big price movements are supported by positive sentiment in the market and continued Bitcoin ETF inflows. ETF inflows appear to have reached new daily highs with the day’s rally.

Bitcoin halving, Bitcoin
blockchain’inde It is the event of halving the reward obtained from mining new blocks. After the next halving, the BTC reward given to miners for each block will drop from 6.25 to 3,125. Crypto trader and analyst Rekt Capital shared a chart showing the “4 Phases of the Bitcoin Halving” and stated that the current Bitcoin increase represents the last “Pre-Hallowing Rally” and that time is up for deeper corrections.