Bitcoin Rallies on ETF Hopes But Experts Don't Expect New Highs Soon

Bitcoin rallied this week on optimism about a potential Bitcoin ETF approval, but remains over 50% below its all-time high.

Experts don't expect Bitcoin to reach new highs for at least a year due to macro uncertainty and impending Bitcoin halving event.

Bitcoin could still see price appreciation as a safe haven asset, albeit with volatility and corrections along the way.

Short positions have been wiped out in latest rally, potentially decreasing leverage and volatility short-term.

Bitcoin gained 20% this week while Ether rose 17%, but neither are expected to make new highs soon.