Bitcoin Price Prediction as BTC Jumps 5% From Recent Bottom – $70,000 Incoming?
Bitcoin’s subtle dip to $67,800 on Saturday stirs speculation, spotlighting our Bitcoin price prediction: could we see it soar to $70,000 soon?
This question gains weight as Genesis injects $2.1 billion into Bitcoin, counterbalancing market tremors and signaling robust confidence in its future.
With major financial players like JPMorgan and Goldman Sachs now navigating the Bitcoin ETF sphere, the stage is set for an intriguing market trajectory.
Genesis, a cryptocurrency lending firm facing insolvency, sold approximately 36 million shares of the Grayscale Bitcoin Trust (GBTC) to buy $2.1 billion in Bitcoin, aiming to settle debts with creditors.
This transaction occurred on April 2, coinciding with Bitcoin’s value at $65,685 each. Despite initially impacting market prices negatively, this move and the use of Bitcoin for creditor repayment have likely contributed to market stabilization.
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