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In a significant turn of events, Bitcoin Reached to $34000 has experienced a remarkable surge, breaking the $34,000 mark. This price spike comes on the heels of BlackRock setting its ticker for its spot ETF and escalating speculations regarding an imminent spot ETF approval.
Bitcoin’s Swift Ascension
Within mere minutes, Bitcoin Surges to $34000 to $34,000, forming a peak at approximately $34,750. The world’s largest cryptocurrency, which has seen a slight dip from its peak at the time of writing, currently stands at $33,503. These developments coincide with mounting expectations of a Bitcoin Spot ETF gaining regulatory approval.
Read More: Bitcoin Reached $31K Mark: Monthly Close Awaits Confirmation
Ethereum Follows Suit
Notably, Ethereum also rode the wave alongside Bitcoin, reaching $1,800 in value. This surge prompted the liquidation of a $135 million short position within the last hour. Over the past 24 hours, a staggering $324 million worth of liquidations have taken place in the market.
Peter Schiff’s Critical Perspective
Peter Schiff, a well-known critic of Bitcoin, shared his viewpoint on the recent surge. He stated, “Bitcoin pumpers claim that once more Bitcoin ETFs hit the market, investment professionals will start buying them for their clients. This will never happen. There is too much legal liability. Investment advisors will not buy them, and stock brokers will only accept involuntary buy orders.” It’s important to note that this statement is not to be considered as investment advice.
Stay updated on this developing story as Bitcoin’s price continues to exhibit remarkable volatility in the cryptocurrency market.
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Disclaimer:
Please note that this article serves solely for informational purposes. As such, it is not financial advice. We strongly advise readers to conduct thorough research and consult with financial professionals before making any investment decisions.
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