Let's talk about the recent investor interest in cryptocurrency
The last hours have meant an extraordinary boost to consolidate the restart of the uptrend we were all waiting for, is that the fact of breaking $40,000 means a decisive point to take bullish entries, even those who had already entered at this point are already in profit.
In that line of thought an article was uploaded by Brayden Lindrea, who states that "Bitcoin-related investment products have become the "main beneficiary" of recent crypto investor interest, amid growing anticipation of the approval of a spot bitcoin ETF in the United States."
For Lindrea, and according to CoinShares weekly reports over the past 10 weeks "show that at least USD 1.44 billion in deposits went into bitcoin investment products during that period, as the price of bitcoin rose from USD 26,600 to USD 37,700 as of December 1"
Namely, "the last week ending December 1 recorded USD 176.3 million in deposits to crypto investment products. Bitcoin (BTC) investment products were the "main beneficiary"
On the other hand, "Some bitcoin futures-based products may be reaping benefits from the recent excitement over approvals, said James Edwards, cryptocurrency analyst at financial technology firm Finder in an earlier interview with Cointelegraph"
SOURCES CONSULTED
Cointelegraph. Bitcoin the ‘main beneficiary’ as crypto funds notch 10-week streak. Link
OBSERVATION:
The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph
Recent developments in the cryptocurrency world, especially bitcoin's breakthrough through the $40,000 mark, is indeed a significant moment that could reinforce the uptrend. Increased investment in bitcoin-related products and growing interest in the potential approval of a spot bitcoin ETF in the U.S. underscore the growing investor confidence in cryptocurrencies. This could open up new opportunities for investors, especially in light of the growing hype surrounding bitcoin futures products.
That's true & it looks like BTC is not gonna stop right there as can be seen now, $43K+. Those who invested in it earlier are in gains already & I would love to advice new investors to do a good research before investing cos i believe the next bull run is gonna be an epic one.