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Bitcoin has broken the $60,000 level and is back in the area of its all-time high (ATH) set in April 2021. Based on a fractal analysis of charts of previous BTC cycles, the peak prediction for the ongoing bull market even reaches the vicinity of $390,000.
Cryptocurrency and Bitcoin market analyst, TechDev has tweeted a series of charts on the possibility of future long-term movement of BTC. They show bullish predictions for the price of the alpha crypto for the next few months, especially at the end of this year.
In other trending Bitcoin News today: ProShares Set for Bitcoin Futures ETF Launch on Monday After Apparent SEC Approval!
The US Securities and Exchange Commission has reportedly greenlit the country’s first Bitcoin futures exchange-traded fund (ETF).
ProShares, an ETF provider, filed a post-effective amendment prospectus on Friday that states the company plans to launch the BTC Futures ETF on Monday, a sign that the SEC has approved the product.
Bitcoin has surpassed the $60,000 mark briefly for the first time since April 2021. The BTC price has been boosted by reports suggesting a Bitcoin futures ETF (Exchange Traded Fund) is likely to begin trading in the United States as early as next week.
Bloomberg senior ETF analyst, Eric Balchunas, is confident that the ProShares Bitcoin Strategy ETF could be the first one launched as the decision deadline is Oct. 18. The Invesco Bitcoin Strategy ETF may be approved the following day barring any further delays by the SEC.
In a tweet on Oct. 15, the analyst stated: “Pretty much done deal. Expect launches next week,” before adding the “odds now over 90% IMO.”
In other trending Bitcoin News today: Bitcoin Could Surge Nearly 10X From Current Price, Predicts ARK Invest’s Cathie Wood – Here’s How
ARK Invest founder Cathie Wood says that Bitcoin (BTC) could reach $500,000 if institutional investors embrace the benchmark cryptocurrency.
Bitcoin is currently trading at $57,327, but according to Financial Review, Wood says that price could surge by nearly 10 times if institutions allocate just 5% of their investment funds to BTC.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
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