Why the rally in Bitcoin is likely to continue

Last Updated: 7. März 2024By

The recent introduction of spot Bitcoin ETFs in the USA is a milestone in the history of cryptocurrencies.

This now allows „conventional“ investors to trade cryptocurrencies through regulated exchanges, without having to trade Bitcoin directly (i.e. through a so-called wallet).

As expected, rumors about the possible introduction of an ETF already boosted the price of Bitcoin last year. When it finally happened in January 2024, prices briefly dipped. This was also predictable. Buy the rumor, sell the facts. This is the usual principle of short-term traders.

Strong rally: Bitcoin gains over +50% in just 6 weeks! Meanwhile, the rally is still going strong. And at an incredibly impressive pace. At the peak of profit-taking in mid-January, we saw Bitcoin prices briefly drop below $40,000 USD, but now they have already risen to over $60,000 USD! That’s an increase of over +50% in less than 6 weeks!

At around $68,823 USD, the old all-time highs of Bitcoin from late 2021 are now within reach. This could soon prompt some investors to take profits again.

This development now raises the question: will the rally continue or will it soon come to an end?

Bitcoin with a strong rally to over $60,000 USD – how much longer? Source: aktienscreener.com

Everything now depends on these developments for Bitcoin! Short-term, the sentiment among Bitcoin investors is strongly overheated, which often leads to pauses in the rally. However, in the long term, the increasing demand due to the new spot ETFs in the USA should lead to a sustained high demand for Bitcoin.

However, there are other developments that may have an even stronger influence on the price development of Bitcoin in the coming months. These influences are very strong. They could change everything.

What these influences are and how they will affect the price can be found in the latest issue of my stock market service Voigts Global Profits.

We trade Bitcoin comfortably like a stock – no wallet needed! By the way: In my stock market service, we have been exclusively using exchange-traded securities on Bitcoin and other cryptocurrencies for quite some time now. And we are making quite a profit without the usual risks and inconveniences that come with cryptocurrencies.

No, we trade everything comfortably through the stock exchange like a stock. Nevertheless, our profits are completely tax-free after at least one year of holding. The year is almost over for many of our positions.

Those who joined us a year ago have already made a whopping +58.09% profit in the Global Profits Trading Depot. I work hard to ensure that the next year will be just as successful! Currently, things are looking very good.