Bitcoin Eyes New Highs As Bloomberg Analyst Reiterates 90% Chance Of January ETF Approval
Summary
Bitcoin (BTC), the leading cryptocurrency, is experiencing an upward trend, moving closer to beating its annual high of $38,390. This momentum is driven by the anticipation around the potential approval of Bitcoin spot exchange-traded funds (ETFs) by the US SEC. Bloomberg ETF expert, Erich Balchunas, predicts a 90% chance of ETF approval by January 10. Bitcoin could potentially reach $50,000 even before a forecasted "halving" event in April, provided it maintains its key support level of $35,000. In his analysis, Crypto Con suggests Bitcoin's current cycle is set for success and its price could rise further, surpassing previous highs if it breaks subsequent resistance levels. At present, BTC trades at $37,700.
