Bitcoin (BTC) Price Path to $40,000 Cleared, Here’s What Might Further Aid It
The post Bitcoin (BTC) Price Path to $40,000 Cleared, Here’s What Might Further Aid It appeared on BitcoinEthereumNews.com.
Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. The price of Bitcoin shot up to its highest point so far this year as investors considered remarks made by Federal Reserve Chair Jerome Powell, which suggested that interest rates would remain unchanged. The biggest cryptocurrency by market capitalization extended its rally on Friday, reaching $39,000 on the Coinbase crypto exchange. With its recent surge, Bitcoin has reached its greatest value since May 2022, right before the cryptocurrency sector was rocked and prices started a gradual slide due to the collapse of the Terra ecosystem. As 2023 draws to a close, cryptocurrency speculators are focused on the possibility that Bitcoin may reach $40,000, since the largest digital asset has more than doubled in value in the year. Bitcoin has increased by more than 133% so far this year, outpacing gains in many other traditional sectors as investors turned to riskier assets. The hope among traders and the cryptocurrency community as a whole that the U.S. Securities and Exchange Commission may soon approve the first exchange-traded fund directly linked to Bitcoin is driving up prices. Bitcoin price path cleared for $40,000 Bitcoin nearly scraped $39,000, according to on-chain analytics firm Santiment, on the news that the U.S. Fed interest rates might remain unchanged until at least 2024. With this move, Santiment believes that Bitcoin’s path has already been…
Filed under: News - @ December 2, 2023 5:18 pm