A PERFECT STORM OF BULLISH FACTORS
đđ #bulllish
Several converging trends could be forming a perfect storm to boost Bitcoin's price in the weeks ahead. For starters, as we've discussed previously, the much-anticipated approval of the first US Bitcoin spot ETF is looking increasingly likely to happen very soon. Knowing the historical impact similar catalysts have provided liquidity and demand shocks to the market, it's easy to see why this is fueling bullish bets.
Secondly, the tide seems to be turning on a broader macro level as well. Signs point to global central banks shifting toward more accommodative monetary policies. With recession fears still lurking, easy money will likely flow back toward risk assets- Bitcoin fits that profile.
Perhaps adding further fuel to the flames is the surging price of gold, a traditional haven. The precious metal just hit a record high, suggesting panicked investors are seeking alternatives to turbulent traditional markets. Could crypto be starting to fulfill its promise as "digital gold"? The charts may indicate so.
