{"id":563521,"date":"2023-12-02T09:30:04","date_gmt":"2023-12-02T09:30:04","guid":{"rendered":"https:\/\/uniquehot.com\/?p=563521"},"modified":"2024-06-12T09:27:23","modified_gmt":"2024-06-12T09:27:23","slug":"bitcoin-a-tad-closer-to-40000-is-41k-the-next-stop-in-a-few-days","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-a-tad-closer-to-40000-is-41k-the-next-stop-in-a-few-days\/","title":{"rendered":"Bitcoin A Tad Closer To $40,000 – Is $41K The Next Stop In A Few Days?"},"content":{"rendered":"

Maintaining its lofty position\u2014the highest it has reached in the last 18 months\u2014Bitcoin is once again on the edge of a potential price increase.<\/p>\n

With a notable 10% gain over the previous month and more than a doubling of its value over the same period last year, the markets valued Bitcoin (BTC) at over $38,600 on Friday morning.<\/p>\n

The alpha coin’s supporters credit its strong success thus far to the excitement around spot Bitcoin ETFs, like the one put up by BlackRock, which might be approved at any time.<\/p>\n

Related Reading: Ethereum ATH: Exploring The Possibility Of Ether\u2019s New Peaks In 2024<\/a><\/div>\n

During European morning hours on Friday, Bitcoin almost reached the coveted $40,000 mark<\/a>, hitting $38,810 for the first time since May 2022. Expectations of increasing institutional demand have supported the increase, which is a continuation of a solid multi-month run.<\/p>\n

Data from cryptocurrency market tracker Coingecko indicates that the coin is up approximately 2% on the day, and sustaining a 3% gain in the last seven days.<\/p>\n

Expert Predictions For Bitcoin: What They Say<\/strong><\/h2>\n

Experts are becoming increasingly fixated on the ETF, as approval of the product approaches. An important piece of information comes directly from Bloomberg analyst James Seyffart, who projects that the clearance date would occur between January 5 and January 10, 2024.<\/p>\n

This projection follows a string of purposefully extended deadlines, indicating a concerted attempt by the SEC to accept several ETF applications at the same time.<\/p>\n

\n

Okay the window for potential spot #Bitcoin<\/a> ETF approval is looking like its gonna be between Jan 5 & Jan 10 2024. I spoke with @thomasg_grizzle<\/a> & @ScottW_Grizzle<\/a> this morning and nailed this call. https:\/\/t.co\/sOU950QlXj<\/a> pic.twitter.com\/y9JYdEpjNH<\/a><\/p>\n

\u2014 James Seyffart (@JSeyff) November 30, 2023<\/a><\/p><\/blockquote>\n

Seyffart’s analysis focuses on the timelines for Hashdex and Franklin Templeton, suggesting that the timeline to green light all 12 spot Bitcoin ETF applications may coincide between January 5 and 10.<\/p>\n

The founder and chief market strategist of NorthmanTrader, Sven Henrich, offered his predictions for the present and future of the Bitcoin market. He examined short-term forecasts, the structural soundness of the market, and made comparisons with past market patterns.<\/p>\n

BTCUSD currently trading at $38,806 on the daily chart: TradingView.com<\/a><\/pre>\n
Henrich projected a possible shift to between $41,000 and $43,000, especially as the year came to a finish. He did, however, stress the need for caution because of the cryptocurrency’s association with more general market trends, particularly in the tech industry.<\/p>\n
Mike Novogratz<\/a>, a well-known businessman and cryptocurrency advocate, expressed unrelenting optimism about the trajectory of Bitcoin and attributed his positive perspective to the much anticipated approval of a spot Bitcoin ETF.<\/p>\n
Related Reading: Shiba Inu Ripple: Massive $300 Billion Transfer Sends Crypto Community Into Speculation<\/a><\/div>\n
Is $41K The Next Stop For Bitcoin?<\/strong><\/h2>\n
Novogratz thinks that Bitcoin’s value will go through the roof if big financial entities\u00a0like BlackRock and Fidelity start to use it, which will cause its price to reach all-time highs.<\/p>\n
The bitcoin community is growing increasingly optimistic that the price of the cryptocurrency may rise to $41,000 in the next few days as it approaches the $40,000 threshold. Because of the market’s volatility, traders are constantly on the lookout for the next move.<\/p>\n
It is unclear if Bitcoin will run into resistance or continue on its current upward trend. By constantly observing price charts and market indicators, investors prepare themselves for the dynamics of the market as they develop.<\/p>\n
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n
Featured image from Shutterstock<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Maintaining its lofty position\u2014the highest it has reached in the last 18 months\u2014Bitcoin is once again on the edge of a potential price increase. With a notable 10% gain over the previous month and more than a doubling of its value over the same period last year, the markets valued Bitcoin (BTC) at over $38,600 on Friday morning. The alpha coin’s supporters credit its strong success thus far to the excitement around spot Bitcoin ETFs, like the one put up by BlackRock, which might be approved at any time. Related Reading: Ethereum ATH: Exploring The Possibility Of Ether\u2019s New Peaks In 2024 During European morning hours on Friday, Bitcoin almost reached the coveted $40,000 mark, hitting $38,810 for the first time since May 2022. Expectations of increasing institutional demand have supported the increase, which is a continuation of a solid multi-month run. Data from cryptocurrency market tracker Coingecko indicates that the coin is up approximately 2% on the day, and sustaining a 3% gain in the last seven days. Expert Predictions For Bitcoin: What They Say Experts are becoming increasingly fixated on the ETF, as approval of the product approaches. An important piece of information comes directly from Bloomberg analyst James Seyffart, who projects that the clearance date would occur between January 5 and January 10, 2024. This projection follows a string of purposefully extended deadlines, indicating a concerted attempt by the SEC to accept several ETF applications at the same time. Okay the window for potential spot #Bitcoin ETF approval is looking like its gonna be between Jan 5 & Jan 10 2024. I spoke with @thomasg_grizzle & @ScottW_Grizzle this morning and nailed this call. https:\/\/t.co\/sOU950QlXj pic.twitter.com\/y9JYdEpjNH \u2014 James Seyffart (@JSeyff) November 30, 2023 Seyffart’s analysis focuses on the timelines for Hashdex and Franklin Templeton, suggesting that the timeline to green light all 12 spot Bitcoin ETF applications may coincide between January 5 and 10. The founder and chief market strategist of NorthmanTrader, Sven Henrich, offered his predictions for the present and future of the Bitcoin market. He examined short-term forecasts, the structural soundness of the market, and made comparisons with past market patterns. BTCUSD currently trading at $38,806 on the daily chart: TradingView.com Henrich projected a possible shift to between $41,000 and $43,000, especially as the year came to a finish. He did, however, stress the need for caution because of the cryptocurrency’s association with more general market trends, particularly in the tech industry. Mike Novogratz, a well-known businessman and cryptocurrency advocate, expressed unrelenting optimism about the trajectory of Bitcoin and attributed his positive perspective to the much anticipated approval of a spot Bitcoin ETF. Related Reading: Shiba Inu Ripple: Massive $300 Billion Transfer Sends Crypto Community Into Speculation Is $41K The Next Stop For Bitcoin? Novogratz thinks that Bitcoin’s value will go through the roof if big financial entities\u00a0like BlackRock and Fidelity start to use it, which will cause its price to reach all-time highs. The bitcoin community is growing increasingly optimistic that the price of the cryptocurrency may rise to $41,000 in the next few days as it approaches the $40,000 threshold. Because of the market’s volatility, traders are constantly on the lookout for the next move. It is unclear if Bitcoin will run into resistance or continue on its current upward trend. By constantly observing price charts and market indicators, investors prepare themselves for the dynamics of the market as they develop. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Shutterstock<\/p>\n","protected":false},"author":557,"featured_media":563531,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,88240,3],"tags":[532,679,1119,1144,6664,84651,11277],"class_list":["post-563521","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-bitcoin-news","category-news","tag-bitcoin-etf","tag-bitcoin-price","tag-btc","tag-btcusd","tag-crypto","tag-james-seyffart","tag-mike-novogratz"],"acf":[],"yoast_head":"\nBitcoin A Tad Closer To $40,000 - Is $41K The Next Stop?<\/title>\n<meta name=\"description\" content=\"Maintaining its lofty position\u2014the highest it has reached in the last 18 months\u2014Bitcoin is once again on the edge of a potential price increase. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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