A major investor gives a boost to cryptocurrencies!

Last Updated: 5. November 2023By

After half a year of tough sideways consolidation at the mid-term important hurdle of 30,000 USD, Bitcoin is breaking out dynamically to the upside!

It has already gone up to over 35,000 USD! What is possible with Bitcoin in the near future?

With the new breakout, a larger buy signal with projections of 49,000 USD and later even 69,000 USD is active. That’s enough profit potential even for newcomers at the current level.

Bitcoin: Clear breakout to the upside, target price 69,000 USD! Source: stockcharts.com/ own illustration

That’s why Bitcoin is exploding right now. On the markets there are a few large investors who have such extensive resources that they can significantly influence the prices. Without a doubt, Larry Fink, the CEO of BlackRock, is one of these people.

BlackRock, in turn, is the world’s largest asset manager. This is about billions of dollars that are invested or withdrawn.

BlackRock can significantly move prices with its positions and be behind mid- and long-term trend movements. Nothing really happens without BlackRock.

Larry Fink was once skeptical of Bitcoin. In the meantime, however, he sees the cryptocurrency as a revolutionary asset.

Last year, BlackRock even filed an application for a Bitcoin ETF with the US stock exchange regulator SEC. This application was initially rejected, but BlackRock is not giving up.

With the power of BlackRock, it should only be a matter of time before the approval comes.

BlackRock now makes Bitcoin even more fashionable Fink recently said that Bitcoin has the potential to „outperform every currency in the world in value“. Bitcoin will „change the way we think about money“.

If the world’s largest asset manager thinks this way about Bitcoin (and certainly backs it up with appropriate investments), then it sets the standards for all other institutional investors.

Then the acceptance by companies, governments and individuals also increases. And then it becomes increasingly unlikely that Bitcoin & Co. will be banned by the state. No government in the world will seriously want to challenge BlackRock.

But there are other important price drivers for Bitcoin that are just beginning to take effect in the near future. When this happens and how it affects prices, you can only find out in my stock market service.