Bitcoin Set To Break $40,000 Barrier, Says Crypto Expert: 'It Looks Like It Is Just A Rising Floor'
Portfolio Pulse from Bibhu Pattnaik
Crypto trader The Flow Horse predicts Bitcoin (BTC) will surpass the $40,000 mark, citing the potential SEC approval of a Bitcoin ETF by January 10, 2024, the upcoming Bitcoin halving event in April 2024, and possible Federal Reserve rate cuts next year. Bitcoin is currently trading at $38,808.55, having risen 3% in the past week.
December 02, 2023 | 3:11 pm
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POSITIVE IMPACT
The Flow Horse's prediction of Bitcoin surpassing $40,000 could lead to increased investor optimism and potentially drive the price up in the short term.
The prediction by a recognized crypto trader about Bitcoin's price increase is based on significant upcoming events such as the SEC's potential approval of a Bitcoin ETF, the Bitcoin halving in 2024, and anticipated Federal Reserve rate cuts. These factors are likely to generate positive sentiment among investors, which could drive the price of Bitcoin higher in the short term.
CONFIDENCE 70
IMPORTANCE 85
RELEVANCE 100