Bitcoin

Resistance

<ul> 
 <li><strong>Michael Saylor predicts a 10-fold increase in BTC demand by the end of 2024.</strong></li> 
 <li><strong>At the time of writing, Bitcoin is trading at $37,048, up 1.33% in the last 24 hours.</strong></li> 
</ul> 
<p>Recent substantial spikes in the crypto market may be attributed to a confluence of optimistic events in the industry.&nbsp; BlackRock was the primary catalyst as the company filed for a spot ether ETF with the State of Delaware, which drove the prices of most cryptocurrencies.&nbsp;</p> 
<p>Market confidence has been strengthened and <a href="https://thenewscrypto.com/cme-overtakes-binance-as-top-bitcoin-futures-market/" target="_blank" rel="noreferrer noopener">Bitcoin</a> has been able to retake important technical levels, despite warnings from experts that approvals may not immediately result in ETF launches.</p> 
<p><a href="https://thenewscrypto.com/microstrategy-announces-third-quarter-2023-financial-results/" target="_blank" rel="noreferrer noopener">MicroStrategy</a> co-founder Michael Saylor answered a question on his predictions for Bitcoin and its ecosystem over the upcoming four to five years during a keynote on November 10 at the 2023 Australia Crypto Convention. Saylor predicts a 10-fold increase in BTC demand by the end of 2024, just in time for the Bitcoin halving.&nbsp;</p> 
<h3 class="wp-block-heading" id="price-likely-to-retest-38-000-level">Price Likely To Retest $38,000 Level</h3> 
<p>Following a 40% increase beginning in mid-October, the price of bitcoin has lately fluctuated between $35.5k and $37k. The surge of enthusiasm was amplified when it almost touched the $38,000 barrier.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
  <img decoding="async" width="630" height="380" src="https://thenewscrypto.com/wp-content/uploads/2023/11/BTC_7D_graph_coinmarketcap-3.png" alt="" class="wp-image-85548" srcset="https://thenewscrypto.com/wp-content/uploads/2023/11/BTC_7D_graph_coinmarketcap-3.png 630w, https://thenewscrypto.com/wp-content/uploads/2023/11/BTC_7D_graph_coinmarketcap-3-300x181.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/11/BTC_7D_graph_coinmarketcap-3-150x90.png 150w" sizes="(max-width: 630px) 100vw, 630px">
  <figcaption class="wp-element-caption">
   Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noreferrer noopener nofollow">CoinMarketCap</a>
  </figcaption>
 </figure>
</div> 
<p>At the time of writing, Bitcoin is trading at $37,048, up 1.33% in the last 24 hours as per data from CoinMarketCap. However, the trading volume is down 37.90%. The price recently found support at $36,120 level after failing to break above the key $38,000 mark. The bulls are eying to retest this key resistance level. A clear breakout above this level will likely see price rallying further towards $40,800 resistance level.</p> 
<p>On the other hand, if price falls below $36,120 level, then it will go all the way till $35,180 support level. Further decline will push the price towards the $34,610 mark.</p>

Bitcoin Bulls Strive To Shatter Key Resistance Barrier

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