Latest News

Bitcoin Set To Break $40,000 Barrier, Says Crypto Expert: ‘It Looks Like It Is Just A Rising Floor’

0

Bitcoin Set To Break $40,000 Barrier, Says Crypto Expert: ‘It Looks Like It Is Just A Rising Floor’ By Benzinga

Breaking News

‘;

Stock Markets

Published Dec 02, 2023 15:11
Updated Dec 02, 2023 16:40

© Reuters. Bitcoin Set To Break $40,000 Barrier, Says Crypto Expert: ‘It Looks Like It Is Just A Rising Floor’

Benzinga – by Bibhu Pattnaik, Benzinga Staff Writer.

Amid a recent surge of optimism within the cryptocurrency sector, pseudonymous crypto trader The Flow Horse has projected a significant rise in the value of Bitcoin (CRYPTO: BTC).

What Happened: In a post on X on Friday, the trader shared that the price of Bitcoin is poised for an upward trajectory, particularly with the potential approval of a Bitcoin exchange-traded fund by the Securities and Exchange Commission by Jan. 10, 2024.

“Alright, three weeks ago I said $38,000-$40,000 region would end up being the top for a bit. Yeah, sure it was for that time. But now it looks like it is just a rising floor,” he said in the post.

The trader also said that there are other factors contributing to the bullish outlook, including the upcoming halving event for Bitcoin in April 2024, which will halve the rewards for Bitcoin miners, and a potential rate decrease by the Federal Reserve next year.

Also Read: Crypto Analyst Says Bitcoin Bull Market Is On The Horizon: ‘This Is The Beginning’

“The thing you have to think about is why would you sell right now? You have to think about other people, other whales, other traders. Why would you sell when you know it’s almost all but guaranteed prices are going to be higher when the ETF is green-lit? When the ETF goes live, we’re going to be higher than where we are. That is something that I firmly believe,” he said in a YouTube clip this week.

At the time of writing, Bitcoin was trading at $38,808.55, up by 3% in the last seven days.

Now Read: “Rising Crypto Tide: Bitcoin Set to Break $40,000 Barrier, Says Expert

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo: Shutterstock

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Bitcoin Set To Break $40,000 Barrier, Says Crypto Expert: ‘It Looks Like It Is Just A Rising Floor’

Our Apps



Terms And Conditions
Privacy Policy
Risk Warning
Do not sell my personal information

© 2007-2023 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Britain yet to make the case for a digital pound, lawmakers say

Previous article

Pivoteers eye March cut as deflationary winds give rate-cut bets big boost

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News