BTC might target $39,000 mark if immediate hurdles are surmounted
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After a strong spike earlier this week fueled by the spot Bitcoin ETF anticipation, the crypto market cooled considerably on Thursday and into Friday.The lead cryptocurrency by market capitalization rose for seven days in a row, reaching a high of $35,157 on Oct. 24, the highest level in roughly 18 months. This is the longest winning streak since March. Bitcoin fees surged by 44.8% as transaction volume soared during the price boom.
However, as investors took profits after a near-20% gain in the previous week, Bitcoin fell to $33,907 at press time. While Bitcoin prices may face a short-term price drop, analysts predict the cryptocurrency might continue to rise in the long run.in Bitcoin is certainly increasing, with transactions exceeding $100,000 and reaching new 2023 highs. Recent spot ETF applications appear to be a driving force, as they were following BlackRock's ETF filing in June.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst.
Peter Brandt Shares BTC Price Chart That Rarely Misses, SHIB Breaks New Record, Elon Musk's Post Raises Questions from XRP and SHIB Armies: Crypto News Digest by U.TodayPeter Brandt Shares BTC Price Chart That Rarely Misses, SHIB Breaks New Record, Elon Musk's Post Raises Questions from XRP and SHIB Armies: Crypto News Digest by U.Today
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