Bitcoin

<h3 id="our-experts-talked-about-the-factors-affecting-the-growth-of-the-crypto-market-and-predicted-the-further-movement-of-bitcoin-prices">Our experts talked about the factors affecting the growth of the crypto market. And predicted the further movement of Bitcoin prices</h3><p>The bitcoin (BTC) exchange rate rose more than 5% on November 9, approaching the $38,000 mark when paired with the Tether USD (USDT) stablecoin on the <a href="https://accounts.binance.com/register?ref&#61;15316816" rel="noopener noreferrer nofollow">Binance</a> exchange. And this is the maximum value of the exchange rate since May 2022.</p><p>A positive trigger for the price growth was the news that. The U.S. Securities and Exchange Commission (SEC) began negotiations with Grayscale on the launch of its bitcoin exchange-traded fund (ETF). And a report from Bloomberg analysts that the regulator has an eight-day window open for possible ETF approval from 12 other companies. And which had previously filed applications for the commission&#39;s review.</p><p>The cryptocurrency market has seen increased volatility recently amid expectations of approval of applications to launch exchange-traded funds (ETFs). Investors believe that the entry of ETFs from major players such as BlackRock or Fidelity into the market will lead to a further increase in the value of bitcoin.</p><p>The regulator, represented by the U.S. Securities and Exchange Commission (SEC), is taking a cautious stance and postponing decisions on applications to launch ETFs. And which have already filed 12 management companies. Experts believe that the most likely scenario is the simultaneous approval of several applications to launch a bitcoin ETF at once in early 2024, <a href="https://crypto-upvotes.com/about-us/" rel="noopener noreferrer nofollow">our experts</a> believe.</p><p>Buyers managed to test the resistance zone $36,200 - $36,500 before November 9. According to the cyclic analysis, they will be vulnerable from November 9 through November 21. As all key levels are passed, now it is necessary to hold current positions till the third decade of the month. In order to get to $42 thousand by the new year.</p><p>In the near future, the crypto market will remain highly uncertain due to the potential launch of ETFs. This will contribute to the persistence of increased risks and volatility.</p><h3 id="fear-of-lost-profits">Fear of lost profits</h3><p>The reason for bitcoin&#39;s meteoric rise is investors&#39; reluctance to miss out on &#34;a wave of growth that could hit the crypto industry&#34; if the instrument is actually approved.</p><p>In October, even fake news about a spot bitcoin-ETF fueled the market. As a result, bitcoin managed to consolidate above the psychological level of $30 thousand and went to update local highs.</p><p>Many participants of the cryptocommunity believe that this instrument will attract trillions of dollars of investments into the crypto-industry. But earlier, market participants pinned similar hopes on futures and cryptocurrency options. Unfortunately, the launch of the tools did not lead to the expected result, our experts note.</p><p>As for the further goals of bitcoin, everything will depend on the news background. If the bitcoin price will be fueled by rumors of ETF approval. In the near future, investors will be able to see a &#34;storm&#34; of $40 thousand. In the absence of positive &#34;bubble of expectations may burst&#34; and bitcoin will go into correction, probably in the neighborhood of $30 thousand, our expert warns.</p><h3 id="how-long-will-the-bitcoin-growth-last">How long will the Bitcoin growth last</h3><p>Judging by technical analysis and market structure. And also taking into account the fundamental factors, we can say that bitcoin is in an important phase of its cycle. And is preparing for a sharp upward movement.</p><p>The big players in the market will manipulate the price, and the expected approval of ETFs. As well as the &#34;general euphoria about it&#34; may lead to overpriced purchases. In the coming year, the bitcoin rate movement will occur in the price corridor of $25-36 thousand. And &#34;a real bull market with bitcoin growth and altcoins taking off 10-20 times&#34; should only be expected in a year and a half.</p><p>At the moment, our experts recommend to buy promising altcoins. And trade them between levels in order to accumulate positions until the target event occurs - the very market upsurge. But of course local drawdowns are possible, but the potential profit on individual positions can be more than 1000%.</p>

Bitcoin has hit a new yearly high. How long will the growth last

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