Bittime - Good news for Bitcoin (BTC) investors Bitcoin allocations in investors' portfolios have now significantly outpaced gold, when adjusted for the asset's volatility. This was stated by an analyst from JPMorgan, Nikolaos Panigirtzoglou. According to him, the current Bitcoin allocation is 3.7 times that of gold.
Large Flow of Funds
Nikolaus highlighted the large inflow of funds, namely more than $10 billion, into Bitcoin Exchange-Traded Funds (ETFs) since they were approved last January. The large investor interest in this ETF means that the Bitcoin ETF market potential is estimated to reach $62 billion, using gold as a benchmark.
Another report from JPM Securities even predicts that the spot Bitcoin ETF market could grow to as much as $220 billion in the next two to three years. The Bitcoin ETF spot market is also expected to have quite a big impact on Bitcoin prices considering the multiplier effect on capital.
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Positive Impact on the Crypto Market
The emergence of Bitcoin ETFs has indeed proven to be a positive factor for the crypto market as a whole. The market capitalization of the largest crypto asset in the world was recorded to have increased by more than 45% last February. Net sales for spot Bitcoin ETFs jumped to $6.1 billion in February, compared with $1.5 billion in January.
The largest daily inflow to the spot Bitcoin ETF peaked above $1 billion on March 12. Nikolaus believes this figure could increase further once outflows from the Grayscale Bitcoin Trust ETF stop.
Also Read How to Buy Crypto:
Bitcoin Halving
Apart from the ETF factor, experts also predict that the Bitcoin halving event which is only a month away could trigger a price increase. Halving is an event when Bitcoin mining rewards are cut in half.
Ki Young Ju, CEO of crypto analytics company CryptoQuant, predicts the halving event will halve the daily supply of BTC, which could increase demand and cause a supply crisis in the next six months.
Also Read: Bitcoin Halving: What is it and when will it happen?
Impact of Spot Bitcoin ETF
After a prolonged crypto decline of nearly three years, the approval of a spot Bitcoin ETF became the catalyst for BTC's massive price action. Bitcoin price has now surpassed the all-time high of the previous bull run above $69,000.
This event also opened the door to institutional adoption led by the world's largest asset manager, BlackRock. For investors, this development is certainly good news. However, it is important to always be careful and carry out fundamental and technical analysis before investing.
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How to Buy Crypto with Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
Pros and Cons of Investing in Bitcoin ETFs
Tips for Successful Crypto Investment: Don't Be Greedy
DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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