Recent studies have shown that the number of people who are able to speak English is increasing. interview with Citi, BlackRock CEO Larry Fink further reiterated his belief in Bitcoin (BTC) Blockchain technology. Fink said that blockchain technology is very promising. “legitimacy” Around BTC and blockchain technology surrounding the asset. However, the chief asset manager of the largest company in world does not consider BTC to be a currency. He compares it instead with “digital gold.”
BlackRock’s long-term outlook on Bitcoin
Fink told Citi in an interview that the majority of “BlackRock’s business is based on long-termism.” BlackRock’s statement indicates that it is very bullish about BTC’s prospects.
Fink added that Bitcoin is the currency of terror. He claimed that BTC was bought because people were afraid for their own country’s safety and currency debasement.
Can The Asset Reach a New Peak?
Bitcoin (BTC), which is a cryptocurrency, has seen multiple highs all time in the last 12 months. BTC’s rise to new heights can be attributed high ETF flows. BlackRock’s Bitcoin ETF IBIT ranks among the top BTC ETFs. Inflows of crypto-based ETFs will continue to grow over the next few years.
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Bitcoin (BTC), which peaked at $124.128, was the highest it has ever been on August 14. Price of the asset is down by over 10% from its previous high. BTC has dropped to $111,000, resulting in substantial liquidation. According to CoinGecko’s BTC dataThe asset has fallen 3% over the past 24 hours. It is also down 3.3% on the charts for the week, 8.2% on the charts for the next 14 days, and 5.1% compared to the previous month.
BTC could continue its downward trend in price over the next few weeks. September, historically speaking, has been a bad month for BTC. There is still a possibility that Federal Reserve may cut rates in the next month. The Federal Reserve could cut interest rates next month, which would lead to an increase in investments that are risky. BTC might gain steam in such circumstances.
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Source: watcher.guru
