As of the preparation of this article, Bitcoin 
$91,967 is merely $200 below its all-time high. Expectations remain high for even greater levels. As we anticipate tomorrow’s final trading day, today’s closing numbers for the upcoming ETF are eagerly awaited. TKL, while comparing Gold and Bitcoin, praised the success of the leading cryptocurrency.
Gold vs Bitcoin Performance
Cryptocurrency ETFs have been attracting significant interest for a long time. Recently, there was an ETF listing for SOL Coin, and almost each new day sees as many entries as the previous days combined. Institutional and professional investors are showing a strong appetite for cryptocurrencies, and looking at the current price, their enthusiasm seems justified.
In today’s analysis, TKL compared the performance of the largest spot Bitcoin ETF, IBIT, with that of Gold.
“IBIT reached a record level of 76 billion dollars in assets under management. According to ZeroHedge, the total assets have tripled over the past ~200 trading days.
In comparison, it took more than 15 years for the largest gold ETF, $GLD, to reach the same milestone. IBIT’s Bitcoin assets have also surpassed 700,000 for the first time in history. This figure is approximately 100,000 more than MicroStrategy’s total assets. The crypto markets are making history.”
Bitcoin Set for $124,000 Target
An analyst known as AskCryptoWealth shared a short-term roadmap. Stating that $124,000 is the next closest target likely to be achieved soon, the analyst is expecting much more. This implies an increase of roughly $10,000 for BTC, and as easy as it was to climb from $100,000 to $110,000, this new target could be easily met.
Michael Poppe has been claiming for possibly 2 years that bull markets have arrived. Although there have been periodic upticks for altcoins, we have yet to witness a movement reminiscent of 2021. Longing for those days, the analyst recently concluded that “this time is different, it’s complete now.”
“This period marks an unexpected rise for altcoins when no one anticipated. In the coming months, many will call for a bear market correction because they don’t believe now is the time. However, the bull market is awakening, and returns are coming.”
