Finally Bitcoin to $50K Hooree!!!
Maybe the ETF is pushing up the price of bitcoin now but with the previous approval there was no significant spike but bitcoin took time to climb then now it has reached $50K because of the previous ETF push.
I don't think ETFs have a direct correlation to the current $50k breakout, but the impact of high ETF demand requires brokers (or whatever they are called) to buy large amounts of bitcoin to cover costs if ETF investors sell their holdings. Apart from that, the increase in demand for bitcoin ahead of the halving was something that was predicted previously, but how the price will continue after today may still be too difficult to determine for sure.
The next trend is up that's what I predict going forward but we will see how bitcoin price goes to $60K again or before halving? It is possible but I will never doubt that bitcoin will rally again this year.
I'm still optimistic that price will likely test higher resistance levels during the week, but a small correction before a big rally is also very possible. Keep holding if you have bitcoin, in the long term you can expect greater returns.
