GBTC - Bitcoin Moves To Reclaim All-Time High: Is This Your Last Chance To Buy Before $100000? | Benzinga
After dazzling the investing world with its breathtaking 12-fold rally in the aftermath of the COVID-19 pandemic, Bitcoin (CRYPTO: BTC) has drawn out investors who had invested at the peak of its 2021 bull run for nearly two and a half years.
However, with the Securities and Exchange Commission (SEC) greenlighting BTC exchange-traded funds (ETFs) early this year, trading volumes and investor optimism have only been trending higher ever since.
Consequently, BTC has scripted another stellar rally from its September 2023 low of $25,200 to ascend to a new all-time high (ATH) of $69,208.79 on Tuesday.
Representing a 175% return over the past six months, key technical triggers and BTC’s strong price action could portend a leap towards the hallowed $100,000 mark.
Regulated Access Through ETFs To Boost Investor Confidence
While BTC ETFs based on futures products were already approved in 2021, applications for spot BTC ETFs that promise higher regulatory safeguards and potentially better returns were still being rejected by the SEC till early 2023.
What followed was Grayscale’s long protracted legal battle with the SEC, ultimately leading to the agency being directed to review ...