Bitcoin: Top performer in 2023 continues to rise?

Bitcoin was one of the most successful assets in the past year, which was generally a very good year for the stock market. Readers of my stock market service Voigts Global Profits were able to achieve a whopping +77.51% profit in just a few months.

One of the reasons for this sensational performance is the possible introduction of a Bitcoin ETF, which is expected to generate massive additional demand and thus further increasing prices.

Bitcoin: Top performer in 2023 – what’s next? Source: aktienscreener.com

Will the expected surge in demand actually come? For Bitcoin, it will be decided today whether the US Securities and Exchange Commission will approve such ETFs or not. However, the signs point to approval.

The major ETF providers Fidelity and Invesco have already set and published their fee structures for these products. They are also in intensive discussions with the SEC. All signs point to a green light for the Bitcoin ETF tomorrow!

Perhaps for this reason, Bitcoin prices rose to a new multi-year high of 47,300 USD at the beginning of the week. However, there could be profit-taking starting today if the expected event occurs.

My price target for the end of 2024 can only be found here. Find out how you should behave now, what my price target for Bitcoin is until the end of the year (regardless of the outcome of the ETF issue today), and which other important developments are currently influencing the price, only in my stock market service Voigts Global Profits.