In the past twenty days, It has been observed that bitcoin has experienced less volatility. Bitcoin price is stuck in a particular range for days. There are hopes of the price mounting higher. According to cryptocurrency analyst, price breakout is approaching owing to a long dry spell in the price of the bitcoin. It has been observed that after longtime stagnancy, the price of bitcoin tends to shoot up. According to the latest bitcoin news, Bitcoin ETF(exchange-traded funds )could be approved soon and this will have a huge impact on the price of bitcoin. With this approval, the bitcoin price may rally higher.
Take of experts’ on bitcoin price.
The experts of the cryptocurrency market speculate the bullish trend while breakout may lead in any direction. Crypto –twitter analyst Big Cheds predict that upcoming days would be bearish for the crypto space in the short term. This opinion is contrary to the general prediction of the market remaining bullish. However, hope is bitcoin price mounting higher with improvement in technology and more and more people trusting it as a utility asset. If ETF’s get approved as the latest bitcoin news says, the price will rally higher. ETF is going to put more trust in cryptocurrency exchanges, thus consequenting in more people investing in it. The price of bitcoin is bound to shoot.
Some exporters speculate that crypto market performance would be bullish and other bearish. Anything cannot be ascertained at this time with so many other factors like ETF also affecting bitcoin price. However, in cryptocurrency market hope is important to sustain and go higher.