Bitcoin Price (Cryptography: BTC) This year, it has plummeted nearly 20% so far. In 2024, BTC surpassed the $100,000 mark several times. Recently, BTC has fallen below $80,000.
Many investors believe that more pain is on the way. However, the following statistics suggest bullishness, especially for long-term holders.
Bitcoin has long been a speculative asset held by people who are bullish in crypto. It took years for this popular cryptocurrency to gain credibility outside of these circles. It was primarily due to difficulties with how to buy Bitcoin, especially in areas related to independence and tax implications.
In recent years, the game has changed with the release of several Bitcoin ETFs. Tens of thousands of dollars are poured into Bitcoin through these channels. A huge number of retail investors are jumping on board, as are institutional investors with deep pockets.
Gaining massive recruitment from retailers and institutional investors has been the dream of Bitcoin fanatics for over a decade. It’s finally happening. Over the past 18 months, Bitcoin ETF’s assets have skyrocketed from zero to over $30 billion.
Are these ETF investors selling after the recent price collapse? Be surprised and prepare.
Over the past few weeks, Bitcoin ETFs have actually experienced a net inflow of capital. It is a big indication of Bitcoin’s reputation among retailers and institutional investors. Even if BTC prices collapse, ETF investors are not selling.
Long-term Bitcoin – Currently, its market capitalization is $1.6 billion, but the ability to act as a valuable reservoir could bring gold to $20 trillion in market capitalization. But to close the gap, Bitcoin needs to gain buy-in among the retail and institutional classes. This year’s Net ETF influx is a bullish sign that it’s happening. It was a tough year for BTC holders, but such indicators suggest that additional patience is needed.
Consider this before purchasing inventory with Bitcoin.
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