In light of the upcoming FOMC meeting and a significant USDT issuance on Ethereum, the potential for Bitcoin price growth emerges.
Why Bitcoin Price is Poised for a Rise?
Recently, $1 billion USDT was minted on Ethereum, creating a strong basis for potential Bitcoin growth. Historical data suggests that similar events have previously led to significant price spikes for Bitcoin.
Geopolitical Factors and Their Impact
Recent events, such as the US's threats to Iran and the upcoming FOMC discussions, could significantly impact the cryptocurrency market. A successful resolution to the conflict may create a positive sentiment for Bitcoin amid increased risk appetite among investors.
Major Bitcoin Purchases by Blackrock
Data from ARKham indicates that Blackrock has purchased $250 million worth of Bitcoin, raising its investments to $70.63 billion. This move may also contribute to the asset's price increase.
Considering the recent increase in USDT issuance and active buying from major players like Blackrock, Bitcoin holds significant growth potential, especially if the geopolitical landscape improves.
