Rally

Bitcoin ETF

Bitcoin

Impact

Scope

<p>The post <a href="https://coinpedia.org/price-analysis/will-sell-the-news-impact-bitcoins-path-to-50000-whats-next-for-btc-price/" rel="noopener noreferrer nofollow">Will ‘Sell-the-News’ Impact Bitcoin’s Path to $50,000? What’s Next For BTC Price?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>The recent surge in Bitcoin’s value past the $47,000 mark and the anticipation around the approval of US Bitcoin ETFs by regulators have set the stage for a critical market juncture. Even after hitting a peak and then dipping slightly to $46,850, Bitcoin’s climb during the New Year has been significant, standing at a 10% increase. This contrasts sharply with declines observed in stocks and gold over the same period.&nbsp;</p>
<h2 class="wp-block-heading" id="h-analyst-bullish-insight-on-bitcoin-bull-rally-scope"><strong>Analyst Bullish Insight on Bitcoin Bull Rally Scope</strong></h2>
<p>Amidst this environment, opinions differ among analysts regarding the potential impact of the forthcoming Bitcoin ETF approval. Jason Pizzino, a respected crypto strategist, stands out with a more optimistic <a href="https://twitter.com/jasonpizzino/status/1744581054642745657" rel="noopener noreferrer nofollow">view</a>.</p>
<p>He contends that while some in the market are positioning the Bitcoin ETF approval as a trigger for the end of Bitcoin’s ongoing rally, this may not necessarily signal the conclusion of Bitcoin’s long-term upward trajectory. Pizzino emphasizes that the current market cycle for Bitcoin is likely in its nascent stage and could lead to substantial price appreciation in the long run.&nbsp;</p>
<h2 class="wp-block-heading" id="h-sell-the-news-to-impact-btc-s-50k-path-nbsp"><strong>Sell-the-News To Impact BTC’s $50K Path?&nbsp;</strong></h2>
<p>He notes that Bitcoin continues to maintain an upward trend with no immediate signals of reversal. Pizzino predicts that in the short term, Bitcoin could still ascend above the $50,000 mark, pointing to key Gann support and resistance levels. He acknowledges the potential for a correction but advises against countering the trend in the short term, reserving a more comprehensive analysis for the medium-to-long term.</p>
<p>Despite Pizzino’s optimism, Bitcoin’s current value stands at $45,931, exhibiting a nearly 2% decline in the last 24 hours. As Bitcoin navigates this crucial period, opinions remain divided, and market participants are closely monitoring the developments to decipher the potential short and long-term implications for the cryptocurrency. Hence, despite its rapid gain in recent months, bitcoin remains bullish on the short- and intermediate-term time horizons.&nbsp;</p>

Will ‘Sell-the-News’ Impact Bitcoin’s Path to $50,000? What’s Next For BTC Price?

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