Where is Bitcoin heading

[Expensivejoy01]

Once again, the SEC is in action. Firstly, they allowed the relaunch of FTX, causing FTT token to skyrocket. Despite being considered a sketchy token, profits can be made from anything. While the CEO is serving a life sentence, his exchange is being resurrected. Welcome to crypto, where you can earn from anything; the key is knowing where to "go."

Bitcoin is once again taking the lead. Dominance is rising, and BTC is above 37k. My main target is 40-42k, where there might be a halt/trading range/correction.

So, why is Bitcoin soaring again?
Several news pieces are linked to the ETF, not again, but still. The SEC will negotiate with Grayscale on a spot Bitcoin ETF, and theoretically, they could approve all 12 spot Bitcoin ETFs by November 17. That's the forefront of this whole situation.

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@Choice Deey

 

[Suba]

Yesterday the price of Bitcoin exceeded $37k, but today there was a small correction to $36.9k. From on-chain monitoring there are concerns about price increases with relatively low trading volume. Currently support is at $33k with resistance at $42k. I think there is a possibility of significant increasing selling pressure from whales if Bitcoin price approaches the psychological $40k level.

 

[neku]

I think there is major increase in the transaction time and charges for bitcoin at present, due to which bitcoin payments are getting delayed. There may be a slight decrease in BTC prices now.

 

[duniquefx]

It's impossible to say with certainty where Bitcoin is heading, as the cryptocurrency market is constantly evolving and subject to change. However, many experts believe that the long-term outlook for Bitcoin is positive, and that the price will continue to increase over time. Of course, there are also those who are skeptical about the future of Bitcoin and think that its value may decline in the future. Ultimately, it's impossible to predict with 100% accuracy where Bitcoin is heading.

 

[riberet19]

I think Bitcoin could head to 39k or 40k thanks to a Christmas rally, I hope so I can reduce positions, although it seems that the market is uncertain right now and is not deciding whether to go up or down after all the ETF hype.

 

[saoussen5765]

I think Bitcoin could head to 39k or 40k thanks to a Christmas rally, I hope so I can reduce positions, although it seems that the market is uncertain right now and is not deciding whether to go up or down after all the ETF hype.

It depends on the global country economy I think and doesn't relate to religious events because in some years there is a red market during Christmas means because it depends if the economy of countries is going well or not.