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Cryptocurrency News Articles

Bitcoin (BTC) Backers Are Doubling Down on Their Predictions of New All-Time Highs

Aug 07, 2024 at 04:01 am

Bitcoin (BTC) Backers Are Doubling Down on Their Predictions of New All-Time Highs

Despite the recent downturn, some backers are still optimistic about the future of the world’s largest cryptocurrency. After dropping as much as 20% between Sunday and Monday, several backers are doubling down on their predictions of new all-time highs for bitcoin.

Following the pullback earlier this week, Bitwise Asset Management CIO Matt Hougan predicted new all-time highs later this year. But a glance at the bitcoin exchange-traded fund landscape would appear to show otherwise. On Monday, US bitcoin ETFs saw net outflows of $168 million, while volumes exceeded $5.2 billion, doubling compared to the previous day, according to preliminary estimates from JPMorgan.

Original source:headtopics

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