Although the leading #Kripto currency #Bitcoin (#btc ) has faced seller pressure this week, it has recovered in recent days. BlacRock's application for a spot Bitcoin ETF brought an increase in the crypto market.
Although the US Securities and Exchange Commission (SEC) is expected to reject this spot Bitcoin ETF application, even this step allowed BTC to bounce from its rising trend.
As of tonight, the weekly closing will occur in Bitcoin at 03.00 GMT. It is estimated that BTC will exhibit sharp upward and downward movements before the weekly close.
What Might Happen in Bitcoin (BTC) in the Future?
As of now, it can be clearly seen that the leading cryptocurrency Bitcoin (BTC) is in a decision phase. If BTC does not lose its rising trend, it may start a new bull cycle.
In this bull cycle, Bitcoin is expected to rise to the resistance range of 30 thousand - 31 thousand dollars in the first place. Although it may be very difficult to break this resistance, if it is broken, BTC's new target may be 45 thousand dollars.
Although this goal seems very difficult for many investors, it should not be forgotten that BTC gained more than 100 percent in value even in the first 4 months of 2023.
In a bad scenario, Bitcoin may lose the rising trend at $24,000 and drop to $18,000.
BY THE WAY, MY BROTHERS, PLEASE DON'T MISS YOUR LIKES. EVERY SHARE IS FOR YOU. SO DON'T WITHHOLD YOUR SUPPORT. IF YOU HAVE NOT FOLLOWED YET, DON'T FORGET TO FOLLOW. WITH RESPECT. MEANWHILE, MY BROTHERS, PLEASE DON'T MISS YOUR LIKES. EVERY SHARE IS FOR YOU. SO DON'T WITHHOLD YOUR SUPPORT. IF YOU HAVE NOT FOLLOWED YET, DON'T FORGET TO FOLLOW. KIND REGARDS.