Posted 2/27/2024, 4:10:26 PM
Bitcoin Soars Past $57K to Hit 2-Year High Ahead of 2023 Halving Event, Driven by ETF and Corporate Demand
- Bitcoin surged past $57,000 on Tuesday, its highest level in over 2 years
- The cryptocurrency has rallied almost 30% year-to-date in 2023 ahead of the bitcoin halving event in April
- Demand is being driven by new spot Bitcoin ETFs plus investments from MicroStrategy
- Analyst Mark Palmer sees Bitcoin reaching $125,000 by end of 2025 based on supply/demand dynamics
- MicroStrategy provides leveraged exposure to Bitcoin price increases unlike spot crypto ETFs