Analyzed trends indicate that bitcoin is unlikely to dip below the $30,000 mark again, according to popular analyst Willy Woo.
BTC-shouldn-t-go-back-below-30-000″>BTC Shouldn’t Go Back Below $30,000
Willy Woo stated that bitcoin is expected to remain above the $30,000 threshold, drawing parallels from historical data suggesting stability in the price.
bitcoin‘s recent surge in value is fueled by the anticipated approval of spot exchange-traded funds (ETFs), offering wider access to BTC investments. With a price increase of over 100% in 2023, bitcoin is currently priced at $37,188, as per CoinGecko.
Given the current market conditions and the upcoming halving event in April 2024, bitcoin demonstrates similar characteristics as witnessed in previous bullish cycles, indicating that the momentum is poised to continue.
bitcoin-and-u-s-etf-prospects”>bitcoin And U.S. ETF Prospects
While the U.S. Securities and Exchange Commission initially rejected Grayscale Investment’s bid for a spot ETF, subsequent legal developments indicate a favorable outcome, potentially opening the door for other financial giants seeking ETF approval by January 2024.
### News source: zycrypto.com