Bitcoin Floor: CEO Predicts $38,000 Will Be The Lowest BTC Goes
Summary
Bitcoin has surged past $60,000 due to anticipation of a spot Bitcoin ETF approval and reduced supply after the 2024 halving event. The 200-week moving average now supports Bitcoin at $38,000. Additionally, 69% of BTC supply has not moved for a year, reducing selling pressure. However, Mt. Gox repayments and caution from JPMorgan present bearish factors. Bitcoin is currently trading at $61,245, up 3.0% in the last 24 hours and 4.7% in the last seven days.
