Bitcoin price is increased more than 15% in the last three days as it jumped to $30,750 . This increase in the Bitcoin price is a result of the Blackrock's recent filing for the Bitcoin ETF (exchange-traded fund). Bitcoin's trading volume rose 25% to about $31.48 billion within the past 24 hours
Trading volume of Bitcoin has rised to 31 Billion , thats an increase of 25% in the 24 hours. Blackrock is the worlds largest asset manager. SEC has not approved the application for Spot Bitcoin ETFs. Everyone is keeping eyes on it.
Blackrock,s filing for Bitcoin ETF if approved by SEC then it can really be a big thing for the crypto space. We can imagine this by seeing that how the Bitcoin price react after just filing. What can it bring to cryoto markets if the application is approved. It will provide access to a lot of investors for Bitcoin.
ETH which is the currency of Ethereum blockchain also rised more than 5% following the Blackrock's filing for Bitcoin ETF. While a lot of other altcoins are still not pumped the way they should. This Is because altcoins have their own time and its not always necessary for them to follow bitcoin
However in the past we have seen that altcoins pump When Bitcoin cross its previously all-time high value. This can also be different in the current market situation. Its not always possible to perform markets the same way that they performed in the past.
Another reason for Altcoins not pumping can be a pressure from the SEC as they mark them as security. This is why we see less money flowing into the Altcoins. But we still cant sure if thats the reason as it may or may not be the reason. Being said earlier that altcoins have their own pump time so we still have to wait for it to come.
Experts in crypto also say that once Bitcoin pump heavy then we will see funds moving into the altcoins. That will drive the altcoins to new heights. If this is true then we have to wait for bitcoin to pump hard but being said above we cannot predict market 100%.
Well, i see a bright future and also feeling that Bull season seems around the corner. If not in 2023 then it will be in the mid of 2024 as Bitcoin Halving would also occur in april 2024.
Pump and dump can be expected , Holders will be the winners in the end.
Thats it for today.
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In the end i would like to Wish you and your family a happy day ahead. Stay Blessed.
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