The price of Bitcoin has risen above $49,000, analysts share their belief for 2024, and interest in exchange-traded funds (ETFs) is increasing everyday. While the largest cryptocurrency closed the last 6 days positively, increasing this number to 7 days will result in a rally that has not been seen in the last year.

This trend will be biggest rally since January of last year if Bitcoin finishes positively on the seventh day, which is tonight.

“It is a sign that corporate companies are coming.”

Analysts continue to make positive evaluations about the rising movements of Bitcoin. In an interview with Bloomberg television, Caroline Bowler, CEO of cryptocurrency platform BTC Markets Pty, stated, “All these rises are an obvious sign that institutional money is coming to Bitcoin.”

Not even Grayscale was able to decrease sales

As is well known, Grayscale conducted sales of $6 billion in accordance with customer requests after the opening of trading for exchange-traded funds (ETFs) on January 11. However, these sales were unsuccessful to keep the price of Bitcoin from increasing. The net amount of money entering ETFs on Friday alone was 540 million.

Halving is almost here

On the other hand, after ETFs, another much awaited event is the halving of rewards… While there are around 60 days staying for the halving, analysts say that investors expect the price to climb here as well, and the halving has already begun to drive the rise.