Bitcoin and Ethereum are on the rise again with some analysts confident a rally is about to take place.
The largest coin by market cap, Bitcoin, added 1.45% to US$26,800 in the last 24 hours, briefly reaching US$27,035, its highest amount in almost two weeks.
Ethereum on the other hand was up 0.25% to US$1,728.
According to Naeem Aslam, chief investment officer at Zaye Capital Markets, news surrounding Fidelity Investments Bitcoin ETF filing is quite important given the timing, and is further evidence that Wall Street giants are behind crypto.
“The fact that Black Rock is still fully committed to getting involved in the Bitcoin space and is not afraid of the SEC’s recent reaction has given strong confidence to the investors who believe in this space,” Aslam said.
“Additionally, traders are aware that BlackRock has a strong track record of resolving issues with the SEC and that all other major banks, including Goldman Sachs (NYSE:GS), which has been waiting for a long time to enter the market, will use the product it will offer,” he added.
Aslam remains bullish on Bitcoin and believes a rally might be about to take place.
“This might be the last opportunity for many investors who have been waiting to make their money in this space,” Aslam said.
Among some of the altcoins, Solana was up 3.55% to US$15.96, Polygon added 1.34% to US%0.6084 and Litecoin lost 0.62% to US$76.99.