Bitcoin ETF

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Bitcoin

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<a href="https://u.today/bitcoin-btc-price-path-to-40000-cleared-heres-what-might-further-aid-it">Bitcoin</a>, the largest cryptocurrency by market capitalization, surpassed the $39,000 mark in Saturday trading, reaching new yearly highs of $39,753 around where it currently trades.
Bitcoin (BTC) was up 1.89% in the last 24 hours to $39,459, a level it last traded at in April 2022, at the time of writing.
Bitcoin has more than doubled in price in 2023, rebounding over 134% from the crypto rout of 2022, outperforming investments such as stocks and gold.
Against this backdrop, Bitcoin proponent <a href="https://twitter.com/maxkeiser/status/1731032646086488198">Max Keiser</a> predicts an all-time high (ATH) coming in for Bitcoin. "New ATH for BTC on this pulse, $220,000 in play," Keiser stated in a tweet.
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 New ATH for <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> on this pulse. $220,000 in play. <a href="https://t.co/r1mgDjVTUF">pic.twitter.com/r1mgDjVTUF</a>— Max Keiser (@maxkeiser) <a href="https://twitter.com/maxkeiser/status/1731032646086488198?ref_src=twsrc%5Etfw">December 2, 2023</a>
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Bitcoin peaked at over $69,000 in November 2021 before plummeting 64% the following year due to a string of bankruptcies in the crypto industry and macroeconomic concerns.
At its present price, Bitcoin is currently down 42.69% from this high, and its profitability has soared to 80%, the highest value since December 2021, per IntoTheBlock.
The expectation voiced by Bitcoin bull Max Keiser is also similar to that of Galaxy Digital CEO <a href="https://www.bloomberg.com/news/articles/2023-11-29/galaxy-s-novogratz-sees-bitcoin-btc-reaching-old-highs-with-etf-approval">Mike Novogratz</a>, who predicted that Bitcoin might reach its old highs of $69,000 with ETF approval.
Novogratz predicts that billions of dollars will pour into the ETF industry within the first year, if not more, once the Bitcoin ETF begins trading.
<h2 id="eyes-on-40-000-bitcoin-price-in-short-term">Eyes on $40,000 Bitcoin price in short-term</h2>
Currently, all eyes are on where Bitcoin will trend next in the short term, with a target price of $40,000. December has historically been a mixed month for Bitcoin.
According to <a href="https://www.coinglass.com/">CoinGlass</a> data, Bitcoin rose only in 2020 over the previous five years, but the magnitude of the rise (46.92%) was significant. With the current <a href="https://u.today/bitcoin-btc-whales-balance-hits-new-milestone-details">rally</a>, bulls may attempt to replicate the performance this season.
According to <a href="https://www.bloomberg.com/news/articles/2023-12-01/bitcoin-btc-brings-40-000-price-into-view-on-etf-fed-bets?utm_content=crypto&amp;utm_medium=social&amp;utm_campaign=socialflow-organic&amp;utm_source=twitter">Bloomberg</a>, the pattern of positions in the Bitcoin options market hints at a trading range of $37,000 to $40,000 in December.

Bitcoin (BTC) Price on Brink of $40,000 as Max Keiser Predicts New Record High

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