The cryptocurrency world has been active again in recent weeks. Although far from its highest peak, the Bitcoin price has been intriguing, hovering just below $30,000. However, various indicators point to a sharp rise in the near future.
Bitcoin price reaches 30,000 dollars
According to the latest data in the cryptocurrency market, Bitcoin is trading at $ 29,450. The world’s largest cryptocurrency has surpassed most major altcoins, gaining over 3 percent in the last 24 hours. It has also managed to grow by 10 percent in the last week.
According to analysts’ comments, there could be a potential break in the Bitcoin price. The narrowing of the recent bandwidth suggests that volatility will increase in the very short term. This could create a big jump in the popular cryptocurrency.
Another factor that could fuel gains stems from regulators in the US approving the first Bitcoin ETF. Industry analysts say the approval will take place towards the end of 2023. For those who don’t know, an ETF is an exchange-traded investment vehicle that represents a group of different assets.
It is claimed that Bitcoin could exceed $50,000 after the US decision. This prediction seems to be possible with investments from gold ETF investors and US advisors.
With Bitcoin approaching $30,000, the cryptocurrency fear index has also reached neutral. In return, the popular cryptocurrency is likely to rise.
Note: None of the information in this article is investment advice.
So what do you think about this situation? You can share your opinions with us in the comments section.
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