Bitcoin Surges on Shrem’s Bullish Market Forecast

Bitcoin pioneer Charlie Shrem addressed some 255,000 of his X followers with his bullish views on future BTC trends, almost sure they could be the last ones. Shrem credits this prediction for the crypto market, which continues to stabilize, and some more liquidity is injected.

This next #bitcoin and crypto bull market will probably be so epic, it’ll be the last. We will mature.

— Charlie Shrem (@CharlieShrem) February 2, 2024

The development indicates a shift in Bitcoin’s market behavior, becoming more stable and similar to traditional assets like the S&P 500 and gold. This change has positively impacted major cryptocurrencies like Ethereum, Cardano, and Polygon, driving bullish trends. A significant decrease in Bitcoin’s annualized volatility highlights its transition towards market stability.

The crypto market is quite busy because it has been active since the introduction of Bitcoin ETFs. Within a week since the ETFs started, the Bitcoin ETF saw net inflows following a period of net outflows, pumping the price of Bitcoin. This wave of renewed interest emphasizes the appetite from investors for regulated devices, which provide exposure to Bitcoin. The start of people in the future trading Bitcoin ETFs on traditional exchanges brought more accessibility to investors.

Also read : Coinbase Halts Bitcoin SV (BSV) Support 

Read More

2024-02-04 00:36