Bitcoin, the widely known cryptocurrency that has been rising massively for a long period of time now, struck a high record on Wednesday. It briefly rose to above $65,000, a day after a financial instrument dedicated to the unit made its debut on the New York Stock Exchange. ThinkMarkets analyst Fawad Razaqzada showed his concern through his statements.
He said, "there is a possibility that the impact of the ETF's launch might already be priced in, and we could see some 'buy-the-rumor, sell the fact' type of reaction in the days ahead,". He also mentioned that is known for its volatility, bitcoin could also "easily break the record high, before potentially climbing towards $70,000 which is the next psychological hurdle", he added.