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<p>The post <a href="https://coinpedia.org/price-analysis/whats-next-for-bitcoin-btc-and-major-altcoins-crypto-outlook/" rel="noopener noreferrer nofollow">What’s Next for Bitcoin (BTC) and Major Altcoins? Crypto Outlook</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Global central banks have tightened monetary policies to combat high inflation, partly fueled by speculative activities in the cryptocurrency market. Despite regulatory crackdowns, investors continue to invest heavily in Bitcoin (BTC) and altcoins, with these digital assets outperforming traditional stock indices and risk-free treasury bonds in recent years.</p>
<h2 class="wp-block-heading" id="h-bitcoin-bulls-aim-for-40-000-milestone"><strong>Bitcoin Bulls Aim for $40,000 Milestone</strong></h2>
<p>Bitcoin’s struggle to reach the $40,000 mark has been notable despite its supply on centralized exchanges dropping yearly. Industry analysts have observed that significant fund managers, like BlackRock, are now indirectly acquiring Bitcoin via mining company investments. Additionally, the Bitcoin hash rate has significantly increased, quadrupling since the 2021 cryptocurrency boom.</p>
<h3 class="wp-block-heading" id="h-short-term-market-outlook"><strong>Short-Term Market Outlook</strong></h3>
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   <p lang="en" dir="ltr">Another possible scenario for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a><br><br>Price has topped out locally, price consolidates here for the next few months followed by a re-test of the upwards sloping trendline support before it starts going higher.<br><br>Meanwhile, <a href="https://twitter.com/hashtag/altcoins?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#altcoins</a> outperform during this consolidation. <a href="https://t.co/1xujEt0lji" rel="noopener noreferrer nofollow">pic.twitter.com/1xujEt0lji</a></p>— Mags (@thescalpingpro) <a href="https://twitter.com/thescalpingpro/status/1730123646403022961?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 30, 2023</a>
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<p>A well-known crypto analyst, Mags, predicts Bitcoin’s price will consolidate between $33,000 and $38,000 before a swift drop towards $32,000, a point likely to attract new buyers and signal the onset of a bullish phase. Concurrently, Mags anticipates that smaller and lower-cap altcoins may see considerable gains during Bitcoin’s short-term price correction.</p>
<h3 class="wp-block-heading" id="h-broader-market-trends-and-regulatory-landscape"><strong>Broader Market Trends and Regulatory Landscape</strong></h3>
<p>Ongoing efforts to ensure legacy cryptocurrency firms comply with securities laws persist in the United States. Industry experts believe that by January 10, 2024, the U.S. Securities and Exchange Commission (SEC) will likely have approved the first spot Bitcoin ETF. Meanwhile, the Bitcoin market has witnessed a significant increase in options and futures open interest, indicating growing demand from institutional investors.</p>

What’s Next for Bitcoin (BTC) and Major Altcoins? Crypto Outlook

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