The bitcoin Price Soars, Can It Reach $40,000 by the Weekend?

bitcoin price has seen a significant surge in the last 24 hours, surpassing the $35,000 resistance level. With a rise of over $37,000, will bitcoin continue its upward trend? Are we to see BTC hit the $40,000 milestone before the weekend? Let’s delve into this bitcoin price prediction.

Recent Changes in the Price of bitcoin

The BTC prices have been surging in recent days, surpassing the $36,000 mark, with a nearly 6.60% increase in the last 24 hours. As of the moment, the BTC price stands at $36,708.15.

It has been a story of rapid price growth in recent days, with many breakthroughs beyond the $35,000 mark. The possibility of the bitcoin price surging to $50,000 has been discussed, and it seems that the price explosion has now become a reality.

Reasons for the Rapid bitcoin Price Increase

This surge in bitcoin price could be attributed to the news about the potential early approval of bitcoin Spot ETFs. Jay Clayton, the former Chairman of the U.S. Securities and Exchange Commission, mentioned that bitcoin Spot ETFs were inevitable.

This news has sparked optimism among investors and has led to a drastic increase in buying pressure. The market is buzzing with excitement about the prospects of ETFs, and each new hint regarding their availability is driving up the bitcoin price.

The Possibility of Reaching $40,000 by the Weekend

If the current trend continues, bitcoin might reach $40,000 over the next two days. With news of bitcoin miners amassing around $18.5 million in BTC over the weekend, it is speculated that the cryptocurrency can exceed the $35,000 level and continue its upward trajectory.

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The mood is optimistic among bitcoin bulls, and with bitcoin miners accumulating, the cryptocurrency might soon reclaim the $40,000 threshold.

A technical analysis using the Parabolic SAR indicator also supports this positive forecast. However, the $37,000 level represents crucial resistance. Yet, if the bullish trends persist, bitcoin is likely to hit the $40,000 mark in a short span of time.

Where to Buy bitcoin?

For those interested in acquiring bitcoin, Bitget is an excellent platform known for its low transaction fees and hassle-free experience. Given the current positive trend in bitcoin price and the promising outlook of the cryptocurrency market, now might be an opportune time to consider investing in BTC.

In conclusion, with the ongoing surge and several bullish signs, there are strong indications that bitcoin could reach $40,000 by the weekend, indicating a potential rally for the cryptocurrency market. So, consider keeping a close eye on the bitcoin price movements in the coming days.

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By Team