The most important reasons for the purchase of investment funds circulated in Bitcoin, such as IBIT, FBTC and ARKB
The fixed price of bitcoin has continued in the past few days, and it has been hovering near its highest level since February 24. BTC has jumped with more than 27 % of its lowest level this year, and technologies indicate that the currency will continue to rise in the short term. This article explores the most important reasons for buying the best investment funds traded in Bitcoin, such as Ibit’s Ibit’s, Fedelity’s FBTC, and Cathie Wood’s ARKB.
Bitcoin technical prices indicate more upward trend
The first important reason for buying Bitcoin and the highest traded investment boxes, such as IPIT, FBTC and Arkb, is that they have strong technical indicators indicating other gains in the coming months.
The weekly graph shows many important upwards that may push them up in the long run. It reached 15,463 dollars in November 2022, after submitting FTX bankruptcy. This price represents the underside of the cup and the handle pattern whose upper side was $ 68,900.
The cup and the handle is one of the most popular styles patterns in the financial market. It has a depth of about 77 %.
The handle section occurred between April and November last year. This handle was also a large proud planning style, which is a common ups in the market.
Then the Bitcoin price achieved a strong upward interruption and reached a record level of 109,200 dollars. I have moved over the averages of the movement for 50 weeks and 100 weeks, a sign of bulls at the present time.
Bitcoin re -tested the important support level at $ 73,757, the highest level in March last year. This price was the upper side of the handle section. Fracture and restoration pattern is a sign of difficulty in the market.
Therefore, the bitcoin price is likely to continue in the short term. The initial goal of this goal ranges between 122,000 dollars and 123,000 dollars. This price is determined by measuring the depth of the cup from its upper side.
BTC price scheme | source: Tradingvief
Analysts are optimistic about bitcoin
Another reason for investing in Bitcoin, ETFS, such as IBIT, FBTC and Arkb, is that analysts are very optimistic about Bitcoin and other altcoins.
In a report issued this week, analysts at Standard Chartard expected that the currency would rise to $ 200,000 by the end of the year. Stancart was one of the most optimistic and accurate analysts regarding bitcoin.
ARK Invest, the company owned by Cathie Wood, gave a predictive price of bitcoinand It is expected that the currency will rise to $ 2.4 million by 2030.
Moreover, Michael Sailor expected Bitcoin to finally jump to more than $ 5 million in the next few years. His highest estimation is that it may reach $ 45 million over time.
Bitcoin has become a safe balance
Additional data shows that bitcoin has slowly became one of the safe assets. Modern data indicates that Bitcoin was much better than Nasdaq 100 and S&P 500 indicators since Donald Trump began his trade war earlier this month.
Analysts note that Bitcoin will eventually join gold, the origin whose price has risen to a record level this year, as investors adopt its role as a safe asset. This explains why these funds evaluate large flows even with the collapse of the stock market.
They determine the superior Bitcoin features compared to gold. It has a limited maximum of 21 million and is subject to the event of half every four years. Half is a process in which mass bonuses are reduced by half, thus increasing the difficulty of mining.
In summary when purchasing ATFS IBIT, FBTC and ARKB
History shows that the price of bitcoin works well over time. He jumped from less than one dollar in 2009 to more than $ 94,000 today. She faced some decline during climbing. All drops turned into good areas to decline. Therefore, there is a possibility that the currency will continue to rise over time.
The most important reasons for the purchase of ETFS Bitcoin appeared such as IBIT, FBTC and ARKB first on Invezz
