Bitcoin Price Broke the $59,000 Level – Here’s Why
08.08.2024 18:57 1min. read Alexander Stefanov
On Thursday morning, Bitcoin surpassed $57,000 after falling to below $50,000 during Monday's market sell-off.
At the time of writing, the price of Bitcoin has seen a 4% increase, trading for around $59,000.
According to JPMorgan, this rebound is mainly due to institutional investors. The limited de-risking seen in Bitcoin futures during the crash indicates continued confidence from these investors.
In other news, Morgan Stanley is allowing its financial advisors to recommend the iShares Bitcoin Trust and the Fidelity Wise Origin Bitcoin Fund (FBTC).
As reported, Morgan Stanley is the first major Wall Street firm to actively promote these Bitcoin funds to clients, while firms like Merrill Lynch and UBS only offer them at client request.
-
1
October Historically Boosts Bitcoin: Will ‘Uptober’ Deliver Again?
23.09.2024 18:00 1min. read -
2
Bitcoin Surges Past $62,000 After Fed Cuts Rates by 0.5%
19.09.2024 10:06 2min. read -
3
Crypto Market is Bleeding Again – Bitcoin Falls Below $59,000
28.08.2024 1:48 1min. read -
4
Bitcoin’s Halving Cycle May No Longer Apply, Says Analyst
01.09.2024 20:00 2min. read -
5
Another Bitcoin Mining Firm Files for Chapter 11 Bankruptcy
27.08.2024 19:30 1min. read
Could Bitcoin Hit $155,000 by Year-End? Here’s What Analysts Are Saying
An analyst has outlined potential scenarios for Bitcoin’s price, projecting it could close 2024 within the range of $108,000 to $155,000 if historical trends continue.
Could the U.S. Election Be the Key to Bitcoin’s Next Big Surge?
Bitcoin has been climbing steadily, with some of its momentum tied to recent moves by the Federal Reserve.
October Historically Boosts Bitcoin: Will ‘Uptober’ Deliver Again?
With October on the horizon, investors are eagerly anticipating what the month might hold for Bitcoin and the broader crypto market.
Bitcoin Set for Potential Surge by End of 2024, Says New Report
10x Research’s recent analysis suggests that Bitcoin may be poised for a substantial rally by late 2024.
-
1
October Historically Boosts Bitcoin: Will ‘Uptober’ Deliver Again?
23.09.2024 18:00 1min. read -
2
Bitcoin Surges Past $62,000 After Fed Cuts Rates by 0.5%
19.09.2024 10:06 2min. read -
3
Crypto Market is Bleeding Again – Bitcoin Falls Below $59,000
28.08.2024 1:48 1min. read -
4
Bitcoin’s Halving Cycle May No Longer Apply, Says Analyst
01.09.2024 20:00 2min. read -
5
Another Bitcoin Mining Firm Files for Chapter 11 Bankruptcy
27.08.2024 19:30 1min. read
