Bitcoin Is Suddenly Braced For A $1.5 Billion July | Avaneesh Parasar

 

Bitcoin Is Suddenly Braced For A $1.5 Billion July | Avaneesh Parasar

Bitcoin and cryptocurrency prices struggled to find direction in June after moving sharply lower through April and May.
Currently, Bitcoin's price is 32000$ USD, according to my analysis Bitcoin will be worth more than 75000$ USD, Just buy a dip and HODL for a long.
Avaneesh Parasar

The bitcoin price, down almost 50% from its peak of around $65,000 per bitcoin set in April, has managed to hold above the closely-watched $30,000 level — but has failed to make convincing gains.

Now, with around $1.5 billion worth of shares in the Grayscale Bitcoin Trust (GBTC) hitting the market on July 18 — something JPMorgan named as a downside risk for the bitcoin price — researchers at U.S. crypto exchange Kraken have predicted the looming Grayscale unlock could be “positive for the bitcoin price.”

Grayscale, the world’s largest digital asset fund manager with $24 billion under management, allows institutional investors to gain exposure to bitcoin through shares in its Grayscale Bitcoin Trust (GBTC) — a fund that currently holds just over 650,000 bitcoin tokens, some 3% of bitcoin’s circulating supply. GBTC shares are subject to a six-month lockup after being purchased.

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