What are KULR and BlackRock doing? What are we doing? Read on to find out more 👇👇👇
Events that have taken place
1. KULR Technology Group:
• Announced purchase of 217.18 Bitcoins with a total value of 21 million USD, average price of 96,556 USD/BTC.
• This is the first step in the company's Bitcoin Treasury strategy, using 90% of excess cash to store Bitcoin.
• Partnered with Coinbase Prime to manage and custody digital assets.
2. BlackRock:
• Adding 430,770 shares of the Bitcoin ETF, valued at $17.13 million, to the Global Allocation Fund.
• BlackRock continues to strengthen its position in Bitcoin through accessible financial products.
2. Implications of events
For Bitcoin:
• Signals of confidence from major institutions:
• BlackRock, with its reputation and influence, has paved the way for other financial institutions to view Bitcoin as a legitimate asset and strategy.
• KULR, although smaller in scale, also demonstrates strong confidence in Bitcoin as a store of value and a cash risk management tool.
• Strengthening the official role of Bitcoin:
• As public companies and large investment funds get involved, Bitcoin is increasingly recognized as an essential part of long-term investment portfolios.
For the cryptocurrency market:
• Increase liquidity:
• Both direct Bitcoin (purchased from KULR) and Bitcoin ETFs (from BlackRock) help increase liquidity for the market.
• Potential to initiate a bull run:
• Institutional buying moves often signal a long-term growth phase for the market. This strong accumulation could drive Bitcoin prices up in the near future.
• Ripple effect on altcoins:
• When Bitcoin leads the bull market, capital tends to flow into altcoins, triggering an 'Altcoin Season'. This aligns with market cycle predictions in the analyzed charts.
3. Market outlook
Short term (3-6 months):
• Bitcoin price growth:
• Large purchases from KULR and BlackRock create a positive market sentiment. If FOMO (Fear of Missing Out) sentiment from other institutions arises, Bitcoin prices may continue to rise.
• Increase attention to Bitcoin ETFs:
• The BlackRock Bitcoin ETF will attract traditional investors, increasing demand and creating more stability for the market.
Long term (12-24 months):
• Bitcoin enters a bullish cycle:
• Factors such as institutional capital flow, the Bitcoin halving in 2024, and the development of Bitcoin ETFs could drive BTC prices to new highs, as predicted in historical cycles.
• Altcoin Season:
• When Bitcoin rises sharply, investors tend to seek higher profits from altcoins, leading to an 'Altcoin Season' from mid or late 2025.
4. Risks to consider
• Legal policies:
• The SEC and other regulatory bodies may create barriers or change the game if stricter regulations are enacted.
• Short-term price volatility:
• Despite positive signals, Bitcoin and the cryptocurrency market still harbor significant volatility, especially during trend transition phases.
5. Conclusion
Events from KULR and BlackRock are optimistic signals, indicating that Bitcoin is becoming a strategic asset for major institutions. This not only creates stability for the market but also promotes growth cycles in the future. Investors should consider:
• Maintain long-term confidence in Bitcoin.
• Monitor the flow of funds shifting to altcoins to seize opportunities.
• Leverage technical analysis to combine with this fundamental analysis to make your choice
