$bitcoin (btc)Epic resurgence will price retest $50k this month.?
Bitcoin price is on a massive resurgence course as its price is inching closer to its highest level for the year after a bullish trigger recorded this week.according to data from coinmarketcap , bitcoin price is currently changing hands for $47,219.60 up to 1.70% percent in the past 24hours .the current outlook has shifted the overall year -to-date (ytd) gains to 11.1%
Bitcoin started the year on a good footing with the lunch of spot bitcoin exchange traded fund ETFs products. The emergence of this product has caused a paradigm shift in the market overall as institutional investors are now gradually weighing their options on the best way to gain exposure to the asset class.
The spot bitcoin ETF issuers have gained good transaction thus far with black rock volume hitting north $4billion in the first month, creating a historic record of all ETFs in history.with gold ETF hitting the $10billion benchmark in about a year,spot bitcoin ETFs are on track to break records soon .
This sentiment is driving an impressive price rally in bitcoin and expectations abound that that the current run my push the coin to $50k level this month.
Historically bullish February…!
I personally judging by bitcoin price history February has always turned to be a bullish month for the coin and should history repeat itself chances are the coin could print average growth of 14% by to the end of the month this will comfortably push the price of the asset to
$50k range and possibly hit new levels
