Cryptocurrency analyst Timothy Peterson outlined the developments he expects in the Bitcoin price this month and the following months in his published statement.
The analyst reminded that fund flows in Bitcoin Spot ETFs reached an all-time high this week, exceeding $ 40 billion. Bitcoin Spot ETFs traded in the US experienced a sudden increase in the past week after a month of stagnation.
According to the analyst, the amount invested in Bitcoin ETFs has doubled since October, with an average monthly inflow of $5 billion.
The analyst stated that if this rate of inflows to funds continues, he expects the Bitcoin price to increase by an average of $10,000 to $15,000 per month. However, it is not yet known whether the rate of inflows to funds will continue at this level.
At the time of writing, BTC is trading at $104,932 and has gained 11% in value over the past month.
*This is not investment advice.