The renowned financial giant BlackRock He took a noticeable turn in his posture towards the Bitcoin which is listed this Thursday, July 6 at u$s31.088.08 after rising 2% in the last 24 hours. Meanwhile, his younger brother, the ethereum brushes the roof of the u$s2,000 when operating in u$s1.933. It should be noted that after the words of Larry FinkBTC reached a new yearly high by reaching the $31,460.05.
Although in the past the CEO of BackRock had cataloged the Bitcoin as “a money laundering index“, in the last times was dispatched in praise towards cryptocurrency.
In this context, BlackRock made the necessary changes to obtain the approval of The Securities and Exchange Commission (SEC) for your spot ETF Bitcoinan asset that Fink described as “digital gold” and even as an “international asset.
In this way, Larry Fink now joins a growing list of financial heavyweights who have changed their perspective on Bitcoin and in general about cryptocurrencies. This change in position by BlackRock, backed by its CEO, is a clear indication of the growing acceptance and adoption of the largest crypto by market capitalization in the traditional financial arena.
SEC Approval for Bitcoin Spot ETFsIt would be a significant milestone for the cryptocurrency and would open the doors to greater participation from institutional investors.. This would bring greater legitimacy and stability to the Bitcoin market, which in turn could generate an increase in its value and further strengthen its status as a legitimate and valuable form of investment. In addition, there are more and more voices that advocate the de-dollarization of the world economy, and Bitcoin is considered a possible alternative store of value.
Bitcoin: Fink’s Words
Fink suggests that instead of trusting In Gold As A Traditional Hedge Against Inflation, Investors Should Consider Bitcoinas it also offers protection against currency devaluation.
By aligning his company with the leading cryptocurrency and positioning Bitcoin as a secure alternative to gold and various fiat currencies, Fink presents BlackRock as a source of hope in the financial landscape.
However, it remains uncertain whether the Securities and Exchange Commission will approve the proposed BTC ETF, as previous applications have been rejected. However, Fink’s positive comments on Bitcoin help limit further declines in the price of the cryptocurrency.
Bitcoin Price Prediction
Bitcoin is facing resistance around the $31,000 level, but it remains just above it, so analysts estimate that there is a possible upward trend. If the asset breaks above the $31,350 resistance, the next target could be $32,500 or even $34,150.
Technical indicators such as the RSI and MACD indicate positive sentiment, and the 50-day exponential moving average supports the uptrend.
On the downside, immediate support levels They are around US$30,500 and US$29,650, with a possible drop towards US$28,650 or even lower to $27,900 if $29,650 is broken.
monitor the level of $31,000 is crucial to identify a possible trend Bitcoin buyer.
Source: Ambito
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