- October 31, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
The post Bitcoin News: FOMO Kicks In as BTC Price Hits New Highs—Right Time To Buy? appeared first on Coinpedia Fintech News
Bitcoin is on fire! The price has soared to heights not seen since March, creating a buzz among crypto investors. With Bitcoin just $1.7K away from its all-time high, confidence is booming to new ATH. As Bitcoin breaks past the crucial $72,300 resistance level, stocks from companies like Riot Platforms, Coinbase, and MicroStrategy are also rallying. Perhaps, this surge has create a sense of FOMO, weather is it too late to invest in Bitcoin?
Bitcoin ETFs Hitting Milestone
Adding to the excitement, spot Bitcoin ETFs have seen substantial inflows, adding over $3.31 billion in just two weeks. Since their introduction in January, these funds have now reached an impressive combined market cap of around $73 billion.
Analysts believe this momentum could be part of a larger shift: with the U.S. general election around the corner, many see potential for regulatory changes that may favor the crypto industry, regardless of who wins.
Options traders, betting on this optimistic outlook, suggest Bitcoin could soon hit the $80,000 mark, possibly by year’s end.
Is it too late to invest in Bitcoin?
However, a common question circulating now is, “Is it too late to invest in Bitcoin?” The answer from seasoned investors is a resounding “no.” Experts draw comparisons to Amazon in its early days: even after massive growth, there’s significant potential left.
Bitcoin’s capped supply of 21 million coins, combined with increasing demand, has kept its value rising steadily. Unlike assets such as gold, which can increase in supply to meet demand, Bitcoin remains uniquely scarce.
Adding to the excitement, states like Florida are endorsing Bitcoin by encouraging state pension funds to include it in their portfolios, citing its ability to diversify holdings and hedge against market volatility.
Meanwhile, key figures in the financial world, such as Larry Fink of BlackRock, view Bitcoin as a long-term investment with the potential to grow like Amazon did two decades ago.
MicroStrategy’s Bold Bitcoin Bet
Along with this MicroStrategy, has announced an ambitious new strategic goal: to raise $42 billion over the next three years to acquire more Bitcoin as a treasury reserve asset.
Looking ahead, the company has also outlined its revised long-term target, aiming for an annual Bitcoin yield of 6% to 10% between 2025 and 2027.
