ProShares Trust - ProShares Bitcoin Strategy ETF [BITO] Stock Forecast

Bitcoin's use as a medium of exchange is continuously on the move higher with certain countries adopting it as legal tender. The proliferation of its use could also see it take over international transactions on the Society for Worldwide Interbank Financial Telecommunications (SWIFT) network.

Bitcoin continued to match the moves of the broader stock market as its price faltered amid a hot inflation report that sent the Dow Jones Industrial Average tumbling as much as 1,200 points during Tuesday's trading session. “U.S. inflation decelerated in August, but remained higher than what economists had expected, a sign that the U.S.

The summer rally in stocks and bonds has been fizzling out as recession fears start to permeate through the capital markets. Bitcoin has been following traditional assets as of late and has fallen below $20,000 after a summer rally of its own above $25,000.

Timing the market is near impossible, especially regarding the volatile crypto markets (particularly this year). However, a seasonal buying opportunity could allow prospective Bitcoin investors to get in on an area of value.

VettaFi writer Elle Caruso recently sat down with Simeon Hyman, global investment strategist at ProShares, to discuss bitcoin futures ETFs and the state of the ProShares Bitcoin Strategy ETF (BITO). The excitement was palpable when BITO came to market last October, allowing U.S.

With cryptocurrencies still in their nascent stages of development, safety is always a primary concern. As such, more bitcoin holders are migrating their cryptocurrencies from a public exchange to offline storage or “cold” storage.

Bitcoin recently touched past the $25,000 mark in a recent rally, but given the way the leading cryptocurrency has been behaving as of late, investors have to wonder whether it's a flash rally or something more sustainable. Recent short-term buying activity could point to potential long-term support.

After heavy sell-offs to start the first half of 2022, bitcoin's price has been relatively stable, but can it gain momentum to reach $773,000? One analyst thinks that a confluence of factors could propel the leading cryptocurrency to such levels.

Certain investors rebuke the addition of cryptocurrencies in their portfolios, dismissing digital assets as too great of a risk, especially without regulatory oversight. That could be changing with the introduction of a pair of bills by the U.S. Senate.

Detractors of bitcoin-related exchange traded funds (ETFs) like the ProShares Bitcoin ETF (BITO) are quick to label the cost of getting exposure to the leading cryptocurrency as expensive, but an expense ratio doesn't tell the full story. The fund's lower premium in bitcoin futures exposure highlights the maturation process of the market.