<![CDATA[<figure class="image"><img src="https://cimg.co/news/126477/333946/17-1.jpg" alt="" srcset="https://cimg.co/news/126477/333946/responsive-images/17-1___media_library_original_1280_720.jpg 1280w, https://cimg.co/news/126477/333946/responsive-images/17-1___media_library_original_1200_675.jpg 1200w, https://cimg.co/news/126477/333946/responsive-images/17-1___media_library_original_900_506.jpg 900w, https://cimg.co/news/126477/333946/responsive-images/17-1___media_library_original_720_405.jpg 720w, https://cimg.co/news/126477/333946/responsive-images/17-1___media_library_original_600_338.jpg 600w, https://cimg.co/news/126477/333946/responsive-images/17-1___media_library_original_300_169.jpg 300w" width="1280" class="content-img"></figure>In a rollercoaster week for <a href="https://www.tradingview.com/symbols/BTCUSD/">Bitcoin</a>, the premier cryptocurrency saw its price rise to $28,400, marking a 4.5% uptick on Tuesday. Several significant events influenced this trajectory.&nbsp;MicroStrategy's mammoth Bitcoin purchase acted as a bullish signal, offering some warmth during the prevailing crypto winter.&nbsp;However, not all news was positive; Binance, one of the world's largest crypto exchanges, <a href="https://www.binance.com/en/feed/post/1374447">halted new user registrations in the UK</a>, succumbing to the pressure from the Financial Conduct Authority (FCA).&nbsp;In another setback, BlackRock, the global investment giant, dismissed a Bitcoin ETF report, causing the digital asset to waver.&nbsp;The confluence of these events sets a complex stage for Bitcoin's short-term price predictions.<h2 id="strong-microstrategy-s-bold-btc-buy-provides-warmth-in-chilly-crypto-climate-strong">MicroStrategy's Bold BTC Buy Provides Warmth in Chilly Crypto Climate</h2><a href="https://www.microstrategy.com/en">MicroStrategy</a> (NASDAQ: MSTR), the top corporate Bitcoin holder, recently bolstered its Bitcoin cache to over $4.8 billion despite its stock plunging 30% during the crypto winter.&nbsp;While serving industry leaders like Pfizer, Sony, Visa, and Hilton, the company retains its unwavering Bitcoin conviction, with no current liquidation plans.<figure class="media"><oembed url="https://twitter.com/gussulliman/status/1713923526212685951"></oembed></figure>Since its Bitcoin venture in 2020, MicroStrategy's stock has seen an upward trajectory.&nbsp;This steadfast commitment to Bitcoin propels BTC's price upwards, hinting at the asset's promising long-term value, especially considering events like the impending Bitcoin halving and forecasted interest rate cuts by 2024.<h2 id="strong-binance-halts-uk-sign-ups-amid-fca-pressure-strong">Binance Halts UK Sign-Ups Amid FCA Pressure</h2>Binance, a prominent cryptocurrency exchange, has <a href="https://www.reuters.com/technology/crypto-exchange-binance-stop-accepting-new-users-uk-2023-10-16/">suspended new user registrations in the UK</a> as a response to the Financial Conduct Authority's (FCA) stringent approach towards cryptocurrency regulation.&nbsp;The FCA recently enforced new rules on crypto asset promotions, effective from October 8, which require overseas firms, like Binance, to collaborate with FCA-approved entities for marketing their crypto services in the UK.Binance's former partner, Rebuildingsociety.com Ltd, faced legal restrictions from the FCA, prompting this decision.&nbsp;<figure class="media"><oembed url="https://twitter.com/Reuters/status/1713973329776795776"></oembed></figure>This suspension aligns with the wider industry trend of adapting to evolving regulatory landscapes.&nbsp;Binance actively seeks an FCA-approved entity to endorse its financial promotions, indicating its commitment to regulatory compliance.&nbsp;Existing UK users who have completed the necessary tests can still access Binance services, but new services are temporarily on hold.&nbsp;Binance is working with the FCA to mitigate risks associated with crypto assets and identify a suitable firm for financial promotion approval. This news has been capping gains in the BTC/USD prices today.<h2 id="strong-bitcoin-dips-as-blackrock-denies-etf-approval-strong">Bitcoin Dips as BlackRock Denies ETF Approval</h2>Bitcoin experienced a notable price surge, briefly climbing 10% to $29,900, its highest since August, driven by a crypto media report suggesting the US SEC had approved BlackRock's application for a spot bitcoin exchange-traded fund (ETF).&nbsp;However, the gains were <a href="https://www.reuters.com/technology/bitcoin-jumps-much-10-track-best-day-since-august-2023-10-16/">swiftly reversed</a> when BlackRock denied the report, causing Bitcoin to settle at $28,211, up 3.82%. The news showcases Bitcoin's sensitivity to potential positive developments.&nbsp;Crypto news outlet Cointelegraph initially reported the approval but later retracted the story, issuing an apology.&nbsp;The crypto market eagerly awaits the SEC's final decision on spot bitcoin ETF applications, a decision likely to impact the market significantly. This event, though a "false alarm," underscores the market's anticipation and ongoing volatility.<figure class="media"><oembed url="https://twitter.com/Reuters/status/1713929502126924249"></oembed></figure>The crypto market eagerly awaits the SEC's final decision on spot bitcoin ETF applications, a decision likely to impact the market significantly. This event, though a "false alarm," underscores the market's anticipation and ongoing volatility.<h2 id="strong-bitcoin-price-prediction-strong">Bitcoin Price Prediction</h2>In the <a href="https://cryptonews.com/news/bitcoin-news/">BTC/USD technical outlook</a> for October 17, Bitcoin is observed trading on a 4-hour timeframe. The asset's pivot point stands at $28,582. It currently faces immediate, next, and further resistance at $29,237, $29,921, and $30,500, respectively.&nbsp;On the downside, the support levels to watch are $27,691, $27,239, and $26,576. The RSI, a crucial indicator of market sentiment, reads 75, signifying overbought conditions. Typically, values above 70 often indicate a possible pullback.&nbsp;<figure class="image"><img src="https://cimg.co/news/126477/333945/image-23.jpg" alt="" srcset="https://cimg.co/news/126477/333945/responsive-images/image-23___media_library_original_1387_865.jpg 1387w, https://cimg.co/news/126477/333945/responsive-images/image-23___media_library_original_1200_748.jpg 1200w, https://cimg.co/news/126477/333945/responsive-images/image-23___media_library_original_900_561.jpg 900w, https://cimg.co/news/126477/333945/responsive-images/image-23___media_library_original_720_449.jpg 720w, https://cimg.co/news/126477/333945/responsive-images/image-23___media_library_original_600_374.jpg 600w, https://cimg.co/news/126477/333945/responsive-images/image-23___media_library_original_300_187.jpg 300w" width="1387" class="content-img"><figcaption>Bitcoin Price Chart - Source: Tradingview</figcaption></figure>The 50-day Exponential Moving Average (EMA) is priced at $27,250. Bitcoin's current price above this EMA suggests a short-term bullish sentiment.&nbsp;Chart patterns reveal a double top, with significant resistance extending around $28,500. A bullish breakout above this level could propel Bitcoin into further upward momentum.&nbsp;Conclusively, the prevailing trend for Bitcoin is bullish as long as the price remains above $28,000. In the short term, Bitcoin might test the aforementioned resistance levels, and traders should keep a keen eye on these figures.<h2 id="strong-top-15-cryptocurrencies-to-watch-in-2023-strong">Top 15 Cryptocurrencies to Watch in 2023</h2>Stay up-to-date with the world of digital assets by exploring our handpicked collection of the best 15 alternative cryptocurrencies and ICO projects to keep an eye on in 2023.&nbsp;Our list has been curated by professionals from Industry Talk and Cryptonews, ensuring expert advice and critical insights for your cryptocurrency investments.&nbsp;Take advantage of this opportunity to discover the potential of these digital assets and keep yourself informed.<div class="raw-html-embed"><div style="background: #920047;margin-bottom: 20px;width: 50%;text-align: center;padding: 8px;border-radius: 5px;background-image: linear-gradient(107deg,#930046,#59008a);color: white;padding-left: 1em;padding-right: 1em; font-size: 16px;"><a style="text-decoration:none;color:white" href="https://cryptonews.com/news/new-cryptocurrency.htm" target="_blank" rel="nofollow noindex">See the 15 Cryptocurrencies</a></div></div><h2 id="strong-find-the-best-price-to-buy-sell-cryptocurrency-strong">Find The Best Price to Buy/Sell Cryptocurrency</h2><figure class="image"><img src="https://cimg.co/news/126477/333944/screenshot-1.jpg" alt="" srcset="https://cimg.co/news/126477/333944/responsive-images/screenshot-1___media_library_original_1278_493.jpg 1278w, https://cimg.co/news/126477/333944/responsive-images/screenshot-1___media_library_original_1200_463.jpg 1200w, https://cimg.co/news/126477/333944/responsive-images/screenshot-1___media_library_original_900_347.jpg 900w, https://cimg.co/news/126477/333944/responsive-images/screenshot-1___media_library_original_720_278.jpg 720w, https://cimg.co/news/126477/333944/responsive-images/screenshot-1___media_library_original_600_231.jpg 600w, https://cimg.co/news/126477/333944/responsive-images/screenshot-1___media_library_original_300_116.jpg 300w" width="1278" class="content-img"><figcaption>Cryptocurrency Price Tracker - Source: Cryptonews.com</figcaption></figure>Disclaimer: Cryptocurrency projects endorsed in this article are not the financial advice of the publishing author or publication - cryptocurrencies are highly volatile investments with considerable risk, always do your own research.
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Bitcoin Price Prediction: MicroStrategy Boost, Binance's UK Halt, and BlackRock's ETF Snub

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