Summary
- It was reported that "Bitcoin" broke through the $124,000 mark and set a new all-time high.
- Analyst Rachel Lucas predicted that with the expansion of spot Exchange-Traded Funds (ETF) and institutional demand, Bitcoin prices will continue to rise throughout the rest of the year.
- Lucas indicated that supply shortages and strong structural demand will support further Bitcoin increases by year-end.
Bitcoin (BTC) surpassed the $124,000 mark today, setting a new all-time high. There is analysis suggesting that the upward trend will continue through the end of the year.
According to The Block on the 14th (local time), Rachel Lucas, an analyst at Bitcoin Market, stated, "Bitcoin prices are rising due to the expansion of spot ETFs and institutional demand," and forecasted that "a continuous upward trend will be seen for the remainder of the year."
Lucas added, "A combination of supply shortages and strong structural demand will support further increases by year-end." Meanwhile, Bitcoin is currently trading at $123,487.09 on CoinMarketCap, showing a 3.49% increase compared to the previous day.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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