Analysts expect bitcoin to grow to $70 thousand in the coming weeks

The price of bitcoin may reach the level of $70 thousand per barrel within the next couple of weeks, despite profit-taking after the cryptocurrency reached a historical maximum of $66,256 thousand. This opinion is shared by many analysts analyzing the current dynamics of the crypto market.

The current price of bitcoin is $63,291. However, despite the current sales, bitcoin continues to correlate with the stock market, which is now in a strong growing trend.

Strong support for the most popular cryptocurrency was provided by the launch of the first bitcoin ETF (exchange traded fund) in the United States on Tuesday. The fund's trading turnover on the day of its debut on the stock exchange reached almost one billion dollars. Previously, the US Securities Commission (SEC) rejected all applications to launch such ETFs, and the fact that the bitcoin ETF was still approved gave hope for the further development of the crypto industry.

Experts recommend buying bitcoin on the current correction, as a further decline in cryptocurrency quotes is unlikely.