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Analysts from the world-renowned cryptocurrency exchange Coinbase made statements about the future movement of Bitcoin.
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According to the report prepared by Coinbase crypto analysts, Bitcoin price will be positively affected by some factors. In addition, institutional have shifted more towards spot ETF. This will give BTC significant support within 6 months.
In addition, Coinbase has released a weekly report. Recently, serious amounts of money have entered 11 US spot Bitcoin ETF. Also, since January, a total of 4.2 billion dollars have been invested in these spot Bitcoin ETFs.
The report also addressed the similarity between the Bitcoin fund and the Gold ETF. This situation was also experienced when the gold ETF first came out. In other words, the money entering Bitcoin ETFs has been more than the money that entered the State Street SPDR Gold Shares ETF in the first month.
Note: The State Street SPDR Gold Shares ETF is the most successful ETF launch in history.
Coinbase analysts also added that they found strong support in Bitcoin’s 100-day moving average.
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