News - Will Bitcoin reach $50,000 soon?

By Luc Vesters

Will Bitcoin reach $50,000 soon?

Bitcoin (BTC)
Price update

Bitcoin is currently moving sideways after a long phase of growth. It is currently testing USD 42,000. According to analysts, however, it could soon rise higher.

"The correction appears to be over," writes Michael van de Poppe on Twitter. He is a market analyst at MN Trading. "We will probably test 47-50k before the ETF."

However, market expert Ali warns of a sell-off if Bitcoin falls below the USD 41,000 threshold. More than a million addresses hold the digital gold at this threshold and would likely sell if it dropped.

Bitcoin is currently trading between USD 41,000 and USD 43,000.

The Bitcoin Spot ETF is expected to launch in January 2024. The indications for the authorization of them have been increasing for months. Many experts expect a flood of institutional money to flow into Bitcoin.

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