Bitcoin ETF Excitement Still Simmering
Bitcoin (BTC) has bounced back above $43,000 as fresh news emerges regarding the United States' first spot price exchange-traded fund (ETF).
BlackRock Changes Policy to Include BTC
Asset manager BlackRock, one of the applicants to launch the first U.S. Bitcoin spot ETF, has changed its policy to include BTC as an option for redemptions, according to its latest filing with the U.S. Securities and Exchange Commission (SEC). This development comes as the SEC is set to make final decisions on spot ETFs in early January, with approval now considered highly likely.
Bitcoin Trader Predicts $50,000 Price Before 2024
Bitcoin faces potential volatility in the coming weeks due to the yearly candle close and upcoming macroeconomic data releases. Traders are closely monitoring the spot price, with a dip below $40,000 still possible. However, some traders remain optimistic, with one predicting that BTC/USD could reach $50,000 before the end of 2023.
Analyst Points to Bullish Divergence
Analyst Matthew Hyland highlights a bullish divergence in Bitcoin's relative strength index (RSI) versus price on daily timeframes, suggesting further upside potential. The daily RSI currently stands at 60.45.
Please note that this article does not provide investment advice or recommendations. Readers should conduct their own research before making any investment decisions.
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