<!– Understanding the norm of Bitcoin's behavior, it seems very likely that BTC/USD will hit another all-time high soon. According to TechDev, a crypto analyst, Bitcoin’s on-balance volume (OBV) is suggestive of such a spike. Historically, the OBV indicator has accurately predicted Bitcoin’s pre-2017 and 2021 record highs. What’s more, TechDev noticed that each time OBV hits a high peak, Bitcoin gained another ATH within a single 2-month duration too! Additionally, he noted that there’s a bullish sentiment emerging with the Vortex Indicator (VI) consistently generating new favorability toward Bitcoin – marking it’s fourth time in a row.
The rising demand of Bitcoin could possibly be attributed to the widely fluctuating marine landscape of the crypto market. The expectation of an ETF launch in on the first of January 2024 coincides with the sentiment of investors with the potential of a “demand push” due to a decision by the authority of the United States – MicroStrategy’s Michael Saylor’s words.
BTC is trading at about $43,616 – 0.05% gain than yesterday based on data from Benzinga Pro – this could be signalling a brighter future for digital gold. Nevertheless, it’s common sense to be prudent to risks when dabbling in anything related to investments. –>
