Santiment just released a stunning prediction about the price of Bitcoin. Check out the latest reports about this below.
New Bitcoin prediciton is out
Santiment, a platform for analyzing blockchain, has made a prediction that the crypto markets may see further growth following Bitcoin’s recent surge to a 24-hour high of $30,442. In a new blog post, Santiment attributes the latest rally to news of BlackRock’s filing for a Bitcoin spot ETF, as well as other institutions entering the crypto space.
This sudden surge follows a drop in digital asset markets the previous week after the SEC sued major exchanges like Binance and Coinbase.
Santiment says that digital assets may continue to rise due to institutional interest in the form of exchange-traded funds (ETFs) and other flashing bullish signals.
“But why exactly are ETFs such a bullish, welcome sign for crypto? Two words: institutional investors. With the emergence of (theoretically) more secure and simple ways for large capital investors to have exposure to crypto without actually having to own any, this has allowed more capital to enter the markets that have been starving for more entrants.”
Santiment suggests that Bitcoin and Ethereum (ETH) could potentially increase in value to match the recent performance of stocks, which have been surpassing the cryptocurrency markets.
“For one, equities had been veering far and away ahead of crypto markets. And considering how closely tied these two sectors have been to one another, there likely would have been a bit of catch-up time even without all of this added exposure for investors.”
At the moment of writing this article, BTC is trading in the green and the king coin is priced at $30,013. There are all kinds of optimistic BTC prediciotns on the way these days.
Stay tuned for more interesting news from the crypto space and make sure to check out the markets as well.
