Why did Bitcoin price first reached $ 6,000 in the past six months?

According to some industry analysts, bitcoin similar to the release of the first Gold ETF will see significant growth. However, increasing the likelihood of confirmation of the Black -Black Spot ETF request was not the only factor that raised the price of the digital currency for the first time in the past six months to over $ 1.5.

Yesterday was an important turning point in the long struggle between Garyscill and the US Securities and Exchange Commission, according to Bitcoinist. According to the appellate court ruling, the agency should re -examine Garyscill’s request to convert the bitcoin -trusted ETF Bitcoin ETF.

In addition, Julio Moreno, the head of the Cryptocanium Research Department, noted:

The rise in bitcoin prices was primarily due to shorts traders who had to cover their trading positions. With the rise in prices above $ 1.5, we saw a significant decrease in the volume of Bitcoin open trading.

Joe Consort, a market analyst at Di Bitcoin Lee, also confirmed this comment:

When Bitcoin’s price reached $ 1.5, there was a remarkable accumulation of Fouchers’ trading positions, reminiscent of the jump from $ 1.5 to $ 4.9, which we saw in June. Of course, rising prices caused by financial leverage can be risky; Because the simulation of the structure it has built on unstable fields.

In a note, Bernstein, in a note, attributes the recent increase in bitcoin prices through the $ 1.5 resistance line, which the ETF has listed its Bitcoin Spot with the Bitc Symbol in the DTCC Stock Exchange (DTCC).

Jack Tan, a co -founder of Wu Network, also said:

Bitcoin is in the “anti -gravity” phase and can reach $ 1.5 in the coming months.

He added.

This sudden mutation was just a preview of what would happen if the ETF approves. Given that Gary Skyl Bitcost has dropped to 5 % by the end of Friday, many of these effects on bitcoin value appears to have begun in February from $ 1.5.

Tan also pointed out that the penis is more in line with the trend of corporate stock value; Because they do not have bitcoin safety mechanisms. He expects them to perform weaker than bitcoin and ethereum, and eventually Ethereum will experience growth like bitcoin.

David Lo, head of the Financial Products Department, said:

Bitcoin has received most of these positive catalysts, and its Dominnes has now reached its highest level since the beginning of the year and has been able to get the market share from Ethereum and Stibel Quins.

He said.

However, reducing discounts can lead to sales pressure for “Gary Sucle Bitcoin Trust” in the future; There are probably investors who bought the fund’s shares at a 5 % discount and are now looking for sales.

Quinn Thompson, head of the capital market and growth in Maple Finance, confirmed by Larry Fink, CEO of BlackBerry, who described the recent growth of the digital currency market as a safe point among the challenges of the global economy, adding:

Bitcoin is emerging as modern gold and acts as a refuge for investors in economic instability.

Fink’s view of moving to a safe point reflects recent views of Paul Tudor Jones, who said that gold was doing this five years ago, but now Bitcoin has replaced it.

Thompson also said in a recent interview that if the US Stock Exchange intended to reject ETF Springs requests, companies like Blackle and Fidlet would not endanger their reputation.