To The Moon

🌟🌟🌟📮📮📮Bitcoin is forecast to keep rising after hitting a fresh 2 year high above USD 50,000 on Thursday. Bitcoin, the world's biggest cryptocurrency reached USD 52,749, a high since December 2021. Its market capitalisation also went back above USD 1 Trillion this week. Bitcoin's price has soared by more than 20% this month and more than tripled since January 2023. While Bitcoin has yet to return to its historic record of November 2021 at nearly USD 69,000, it has largely recovered since a price collapse at the end of 2022. This was due to bankruptcies of several crypto companies especially FTX which undermined investor confidence and caused Bitcoin's price to collapse then. I believe that Bitcoin's recovery can be attributed to the US 's SEC allowing the creation of ETFs that track Bitcoin' s price and allow the public to invest in the Digital currency without directly purchasing it. Weekly inflows for Blackrock's $iShares Bitcoin Trust(IBIT)$ were nearly USD 700 million, placing the new spot Bitcoin ETF behind $Invesco QQQ Trust(QQQ)$ for the highest inflow of the week. $Coinbase Global, Inc.(COIN)$ is up 8.8% on Friday and in the past 5 days had jumped a massive 27%. Coinbase has just reported its 4Q23 earnings on Friday, beating analysts expectations. Wedbush reiterated its outperform rating and raised its price target to USD 200 from USD 180. Coinbase reported diluted earnings of USD 1.04 per share, improving from a loss of USD 2.46 per share last year and ending a streak of 7 consecutive quarterly losses. Total revenue spiked 51% to USD 953.8 million, marking its 2nd consecutive increase after 6 quarters of double digit declines. What an amazing result! Another factor for Bitcoin rise is the run up to the Halving event in April 2024. This event occurs every 4 years. By halving the rate at which new bitcoins are created, the total supply of bitcoins approaches its ultimate limit of 21 million. Thus scarcity is created that is fundamental to the potential value of Bitcoin. The April halving will reduce the Bitcoin reward for validating transactions on the BTC network from 6.25 to 3.125 Bitcoin. Then there is the prospect of rate cuts from the Feds which is expected to happen in the 2nd half of 2024. This has increased the risk appetite for investors across the markets. As for me personally, I prefer to invest in $iShares Blockchain and Tech ETF(IBLC)$ which is a great ETF that tracks an index of global companies that are involved in the development, innovation and utilisation of Blockchain and Crypto Technologies. The Top 10 holdings include Marathon Digital , Riot Platforms, Coinbase, Cleanspark, Bitfarms, Nvidia, $Advanced Micro Devices(AMD)$ , IBM, Irish Energy and Block. Top 10 holdings weightage is 70%. Total number of holdings is 37. The expense ratio is 0.47%. What I really like about IBLC ETF is the nice dividends it pays every 6 months in comparison to investing in Bitcoin or Spot Bitcoin ETF. The current dividend is 2.44%. IBLC is currently up 12% in the past 5 days. Last year IBLC has skyrocketed 107%. Will Bitcoin Stabilise Above USD 50,000? On Wednesday, Crypto publication Coindesk noted that bullish sentiment around the continued growth of Bitcoin has crypto traders targeting the USD 64,000 level and even riding as high as USD 75,000 in the coming months as the demand from Spot Bitcoin ETFs grows. CryptoQuant, a Crypto market analytics provider even predicted that Bitcoin could surpass USD 100,000 in 2024. It's Bye Bye Crypto Winter and Hello to A Sunny Crypto Spring! Good times are here again for Bitcoin and All Stocks and ETFs related to Bitcoin. @Tiger_comments @Daily_Discussion @TigerStars @TigerClub @MillionaireTiger @CaptainTiger