Bitcoin, which broke the record for the first time in March by exceeding $ 60,000, reached $ 64,863 on April 14, recording an all-time high. Now, months later, he managed to rise above this level again and set a new record.
ETF effect on Bitcoin prices
Bitcoin experienced a gradual decline after gaining a new ATH in April. During this time, we saw it fall to the level of $ 29,000. However, the positive comments made by various names (such as Elon Musk) affecting the market, the interest of institutional investors, and various developments such as El Salvador’s Bitcoin decision led to a gradual rise again, as in the decline. The latest development that brought the Bitcoin price up was the Bitcoin ETF approval from the USA.
While market experts continue their bull and bear discussions, various sources have made a claim that the Bitcoin ETF, which has been expected to be released for years, will be approved. We also informed that an approval could come before the end of October.
With all these claims coming to the fore, a “sell the news” event took place, and eventually, Bitcoin took its rise to a record level.
At the time of writing, Bitcoin is at $ 65,435. It is a matter of curiosity what kind of path Bitcoin will follow after reaching the new ATH.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.