Bitcoin Set To Break $40,000 Barrier, Says Crypto Expert: ‘It Looks Like It Is Just A Rising Floor’

Amid a reinvigorated sense of confidence surging through the cryptocurrency ecosystem of late, the anonymous crypto investor referencing himself as ‘The Flow Horse’ has made the prediction that Bitcoin (BTC/USD) will undergo a sharp uptick in value shortly.

Taking to the X platform to state his observations last Friday, the trader asserted that such an upsurge would most likely take place during the securitization of the Bitcoin Exchange Traded Fund (ETF) by the US Securities and Exchange Commission – something that could come to fruition by the 10th of January, 2024.

“If you’re anyone conscious of the game, it quickly becomes evident that pricing should move closer to the upper regions of $38,000 to $40,000 when this goes via the board. Nevertheless, having said that, it could very well be that said range of values essentially provides a launching pad for the larger gains to come shortly after,” remarked the Flow Horse in his vonplary.

Asserting further how a vast contribution to this progressive trend was courtesy of a potentially lower interest rate set by the Federal Reserve, coupled with Bitcoin’s impending halving in April 2024, reducing the yields given to Bitcoin miners significantly.

“Why on Earth would any investor or key influencer want to opt for selling up right at this moment. It’s universally accepted that when the green-light is eventually given to the bitcoin ETF, we should see figures above our present level,” the pseudonymous crypto operator concluded in the short video clip premiering on YouTube earlier this week.

Reaffirming the projected takeoff for BTC, market analysts have established that at the time of hitting publish on this update, the anchor cryptocurrency rests cosily just above the $38,800-mark, reaching gains of almost 3% over the past 7 days.

Robert Wilson author
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