Bitcoin ETF

Bitcoin

<ul> 
 <li>Volatility still seems prevalent in the digital currency ecosystem, but Bitcoin (BTC) has demonstrated resilience so far, bouncing back to the $68,000 level.</li> 
 <li>According to predictions by IntoTheBlock, nearly 100% of all BTC addresses became profitable, only to later pull back the coin’s value to $61,440.</li> 
 <li>Market experts, such as “Rich Dad Poor Dad” author Robert Kiyosaki, foresee a $300,000 price target for Bitcoin by the end of this year.</li> 
</ul> 
<p><strong>Bitcoin’s price is picking up again after a brief lull: What levels and events should be watched for Bitcoin moving forward?</strong></p> 
<h2 id="strong-bitcoin-price-reaches-68-000-again-strong"><strong>Bitcoin Price Reaches $68,000 Again</strong></h2> 
<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-126552" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="bitcoin-btc" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?w=1280&amp;quality=70&amp;ssl=1 1280w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/bitcoin-btc-1-1.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></p> 
<p>Volatility still seems prevalent in the digital currency ecosystem, but Bitcoin (BTC) has demonstrated resilience so far, bouncing back to the $68,000 level. Bitcoin bulls continue their relentless efforts, pushing the price up by 1.35% in the last 24 hours, lifting it above the intraday low of $65,655.53.</p> 
<p>The BTC price entered the week with volatile movement in the $61,000 range, driven by sustained buying momentum from spot Bitcoin ETF issuers. Supply squeeze triggered a rare buying momentum, propelling the Bitcoin price to an All-Time High (ATH) of $69,170.63.</p> 
<p>Bitcoin’s price waited over two years to test its previous ATH, and according to predictions by the crypto analytics platform IntoTheBlock, nearly 100% of all BTC addresses became profitable. However, the coin later retraced its value to $61,440.</p> 
<p>The coin made several attempts to return to ATH, but investors who were previously profitable remain skeptical about redirecting their capital into buying the coin again. Despite critics desiring a more devastating drop, the roller coaster has helped Bitcoin’s price stay above the psychologically significant level of $61,000.</p> 
<p>When attention shifts to price, the influence of spot Bitcoin ETFs remains a decisive feature, continuing to shape the interest of institutional investors. With ongoing accumulation, Bitcoin advocates regard the correction as a healthy one that should assist in resetting the price of the leading digital currency.</p> 
<h2 id="strong-bitcoin-projections-and-key-catalysts-to-watch-strong"><strong>Bitcoin Projections and Key Catalysts to Watch</strong></h2> 
<p>At the current level, market experts, such as “Rich Dad Poor Dad” author Robert Kiyosaki, foresee a $300,000 price target for Bitcoin by the end of this year. Robert Kiyosaki’s optimism for BTC price has always been present, even before the approval of spot Bitcoin ETFs.</p> 
<p>Other advocates, such as Ark Invest’s Cathie Wood and individuals like Samson Mow, CEO of Jan3, have larger projections of $600,000 and $1.5 million, respectively. The upcoming Bitcoin halving event is a significant trigger to complement the demand from existing spot BTC ETF products. If demand continues to be sustained after a 50% reduction in supply, the supply squeeze will be so intense that the market will price the cryptocurrency higher.</p> 
<p>The BTC price is currently above both the 50-day and 200-day Moving Averages, indicating bullish market sentiment in both the short and long term.</p> 
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<p>The post <a rel="nofollow" href="https://en.coinotag.com/bitcoin-price-hits-68000-again-whats-next/">Bitcoin Price Hits $68,000 Again: What’s Next?</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p>

Bitcoin Price Hits $68,000 Again: What’s Next?

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