The post ETF Growth, Bullish Forecasts, and Fed Impact appeared on BitcoinEthereumNews.com.

Although the performance of Bitcoin has not been particularly notable this month, there have been some significant discussions about the asset in September. Pseudonymous X user Rugga recently highlighted a few of this month’s trendy discussions around Bitcoin. Topping his list was the global trend of inflows to Bitcoin ETFs. He highlighted that over $17 billion has entered the Bitcoin ETF market over the last nine months. According to Rugga, the increasing investments are expected to stabilize Bitcoin’s price, even as volatility persists. The ETF inflow points to growing confidence in Bitcoin’s future as a digital asset and could act as a buffer against short-term price fluctuations. While the trend of inflows has waned, the overall performance is positive. As of September 16, the U.S. market saw a daily net inflow of over $12 million despite the $20.8 million drain from Grayscale’s product. This latest inflow for Monday continues the streak of positive flows recorded last week. Bullish Predictions and Halving Event Alongside the ETF trend, Bitcoin’s price predictions have become a topic of widespread interest. Rugga pointed out that several analysts now forecast that Bitcoin could reach $130,000 by the end of the year, driven by the halving event in April. This event traditionally impacts Bitcoin’s price by reducing the supply of new coins. It is seen as a significant catalyst for the projected increase, although there are still less fluctuations months later.  Industry pundit Mike Alfred recently suggested that when Bitcoin reaches $315,000, the initial purchase price between $56,500 and $58,150 will be insignificant. He advised investors to focus on accumulating at least 1 Bitcoin, as current prices under $60K will become irrelevant once Bitcoin stabilizes above $300K, offering a potential 5x return. Influence of U.S. Federal Reserve Furthermore, economic factors are also expected to play a role in…

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Filed under: News - @ September 17, 2024 5:21 pm