The post Here is Why Bitcoin (BTC) is Poised for a Strong Year-End appeared on BitcoinEthereumNews.com.

TL;DR Bitcoin’s Recent Surge: Bitcoin’s value increased from around $16,500 to nearly $44,000 this year, with predictions of a strong year-end based on historical Q4 performances. SEC’s Pending Decision: The US SEC’s decision on spot Bitcoin ETF applications, expected in Q1 next year, could significantly impact Bitcoin’s price. Key On-Chain Metrics: Increased BTC open interest suggests potential volatility, while positive exchange netflow indicates a possible rise in selling pressure and a subsequent price correction. Could BTC Hit the Gas in the Following Weeks? The primary cryptocurrency has had a highly successful year so far, with its valuation surging from approximately $16,500 on January 1 to its current level of almost $44,000 (per Coingecko’s data). In addition, numerous experts suggest that the asset is far from stopping its uptrend. According to Kaiko, the asset is poised for “a strong year-end” due to its excellent performance in the last quarter of the year. The crypto data provider outlined that the only two times BTC had a better final sprint were in 2016 and 2020. #BTC is poised for a strong year-end. The crypto asset is down just 4.8% from its YTD high. Only 2020 and 2016 had a better year-end performance. pic.twitter.com/n6r71z07XD — Kaiko (@KaikoData) December 19, 2023 Recall that Bitcoin’s surge in Q4 2020 was followed by a massive bull run the following year, which took the asset to a peak of over $63,000 in April and an all-time high of almost $70,000 in November.  Waiting for the SEC’s Decision One factor that could influence a BTC price increase is the potential approval of a spot Bitcoin ETF by the US Securities and Exchange Commission. Multiple finance giants have already filed applications to introduce such a product in America, with BlackRock, Invesco, and Fidelity being some examples. It is worth mentioning…

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Filed under: News - @ December 25, 2023 10:10 am