Additionally, the increasing national debt in the US, China’s stimulus measures, and global monetary adjustments could also help boost Bitcoin’s prices. Furthermore, institutional investments in Bitcoin are growing rapidly, with US Bitcoin ETFs logging over $20 billion in less than ten months. Other factors that could help boost Bitcoin prices include the upcoming US presidential election, where Bitcoin and the crypto industry have become crucial in the race.
Major candidates such as Donald Trump and Kamala Harris have demonstraten their support for the industry. Experts believe that the growing demand for Bitcoin ETFs will boost institutional investment in Bitcoin, which could send prices soaring.
The group of US spot Bitcoin ETFs debuted just under ten months ago and has already surpassed the same milestone as gold ETFs, who took five years to reach the same point. Central banks around the world, like the Fed, are adjusting their monetary policies to stimulate their economies, driving up investment in Bitcoin.
As such, with the combination of huge whale purchases, growing institutional investments, and other positive catalysts, Bitcoin could be reaching six-figure prices in the not-so-distant future.
Huge Bitcoin Whale Purchases and Institutional Investments to Send Crypto to Six-Figure Prices
Experts predict that Bitcoin could be reaching six-figure prices in the near future, with several factors pointing towards an boost. Huge crypto whales have been scooping up large amounts of Bitcoin through rapid accumulation.
For example, within 24 hours, a staggering 60,000 BTC were purchased, which is an unusually high volume of buying activity for large investors.
