The sleeping giant has awakened! 17 percent increase in 5 days: Bitcoin overtakes gold and dollar
Gold and dollar reached record levels during the week due to the impact of the war in the Middle East. Bitcoin, the largest cryptocurrency that has kept its investors waiting for a long time, rose by 17 percent this week, overtaking both gold and the dollar. “Why did Bitcoin rise?” Answering the question, experts explained the main reason as 'fear'.
The sleeping giant has awakened! 17 percent increase in 5 days: Bitcoin overtakes gold and dollar
With the upward trend that started on Monday, the bitcoin price exceeded 35 thousand dollars and reached its highest level since May 2022. Bitcoin has gained nearly 17 percent in the last five days as optimism emerges that Bitcoin ETFs (exchange-traded funds) will be approved in the United States. Melih Sefa Yavuz, a finance expert and research on crypto assets, and Economist Prof. Dr. Volkan Öngel gave information about the reasons for the rise.Xiaomi Redmi Note 12 P...
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Global USA
“With the decision of the US Court of Appeals for the District of Columbia Circuit, the legal battle between the SEC (United States Securities and Exchange Commission) and the digital asset company Grayscale regarding Bitcoin ETFs ended in favor of Grayscale,” said Finance Expert Melih Sefa Yavuz, “Also BlackRock' "The listing of 's iShare Bitcoin ETF on the Depository Trust and Clearing Corporation's website was the second development that accelerated the rise in Bitcoin," he said.1200x689“THERE ARE TWO DIFFERENT OPINIONS AMONG EXPERTS”
Stating that although there is no concrete development that Bitcoin ETFs will be approved in the USA, these two news significantly increased the optimism of crypto asset investors, Yavuz said, “Depending on these news, two different opinions stand out among experts about the bull run in Bitcoin prices. While some experts say that possible legal regulations on crypto assets have already suppressed the crypto asset market, they also think that the rapid increases in the Bitcoin price are exaggerated. However, some experts support optimistic views that Bitcoin ETFs will be approved, stating that such news may attract new investors to the crypto asset market and especially bitcoin prices may rise.”WHY DID BITCOIN RISE?
Underlining that the reason for Bitcoin's rise is 'fear', Economist Prof. Dr. Volkan Ongel said, “Increasing inflation and global economic uncertainties on a global scale, the Ukraine-Russia war that has been going on for more than a year, and the Palestinian-Israeli conflict that recently started in the Middle East have put the world in an environment of fear and uncertainty. In such environments, some investors try to diversify their portfolios, while others ironically see Bitcoin as a kind of "digital" safe haven. As a matter of fact, many investors are looking for ways to go beyond traditional financial instruments with Bitcoin, which they describe as “digital gold”.”
Gold and dollar reached record levels during the week due to the impact of the war in the Middle East. Bitcoin, the largest cryptocurrency that has kept its investors waiting for a long time, rose by 17 percent this week, overtaking both gold and the dollar. “Why did Bitcoin rise?” Answering the question, experts explained the main reason as 'fear'.
The sleeping giant has awakened! 17 percent increase in 5 days: Bitcoin overtakes gold and dollar
With the upward trend that started on Monday, the bitcoin price exceeded 35 thousand dollars and reached its highest level since May 2022. Bitcoin has gained nearly 17 percent in the last five days as optimism emerges that Bitcoin ETFs (exchange-traded funds) will be approved in the United States. Melih Sefa Yavuz, a finance expert and research on crypto assets, and Economist Prof. Dr. Volkan Öngel gave information about the reasons for the rise.Xiaomi Redmi Note 12 P...
Be one of 50,000 new Green Card winners!
Global USA
“With the decision of the US Court of Appeals for the District of Columbia Circuit, the legal battle between the SEC (United States Securities and Exchange Commission) and the digital asset company Grayscale regarding Bitcoin ETFs ended in favor of Grayscale,” said Finance Expert Melih Sefa Yavuz, “Also BlackRock' "The listing of 's iShare Bitcoin ETF on the Depository Trust and Clearing Corporation's website was the second development that accelerated the rise in Bitcoin," he said.1200x689“THERE ARE TWO DIFFERENT OPINIONS AMONG EXPERTS”
Stating that although there is no concrete development that Bitcoin ETFs will be approved in the USA, these two news significantly increased the optimism of crypto asset investors, Yavuz said, “Depending on these news, two different opinions stand out among experts about the bull run in Bitcoin prices. While some experts say that possible legal regulations on crypto assets have already suppressed the crypto asset market, they also think that the rapid increases in the Bitcoin price are exaggerated. However, some experts support optimistic views that Bitcoin ETFs will be approved, stating that such news may attract new investors to the crypto asset market and especially bitcoin prices may rise.”WHY DID BITCOIN RISE?
Underlining that the reason for Bitcoin's rise is 'fear', Economist Prof. Dr. Volkan Ongel said, “Increasing inflation and global economic uncertainties on a global scale, the Ukraine-Russia war that has been going on for more than a year, and the Palestinian-Israeli conflict that recently started in the Middle East have put the world in an environment of fear and uncertainty. In such environments, some investors try to diversify their portfolios, while others ironically see Bitcoin as a kind of "digital" safe haven. As a matter of fact, many investors are looking for ways to go beyond traditional financial instruments with Bitcoin, which they describe as “digital gold”.”
