Bitcoin Price Spiked More Than 20% Over The Last 5 Days As On 24th October, 2023. BTC Crossed $35000 for the first time since more than year.
BlackRock is majorly responsible for the recent Bitcoin price spike. There has been rumors for a long time that BlackRock will start investing in BTC.
BlackRock Is one of the largest investment firms in the world. BlackRock investing in BTC meaning many more investors & hence the price speculations.
The Black Rock angle
BlackRock applied for Bitcoin ETF in June. Rumor is that it is likely to be approved
Once BTC ETF is approved, users can buy BTC in ETF form, rather than buying from unregulated brokers.
Making BTC a highly reliable as exchanges are well regulated. But the BTC price volatility will be there.
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