Bitcoin (BTC) Price to Hit This Level Before ETF Approval & Halving – Coinpedia Fintech News

After showing a strong resistance level at $36,700 bitcoin is set to hit a new milestone. A renowned crypto trader Michaël van de Poppe recently speculated that, if the current momentum persists, Bitcoin could witness a surge to the $45,000-$50,000 range. 

BTC To Hit $45-50K 

In a recent tweet that created a buzz in the crypto world, Michaël van de Poppe shared his thoughts on where Bitcoin might be headed. He believes that if the current positive momentum continues, Bitcoin could go up to somewhere between $45,000 and $50,000.

This surge in Bitcoin’s value is largely influenced by a renewed sense of positivity in the market. People are getting hopeful because there’s growing anticipation that the U.S. Securities and Exchange Commission (SEC) might give the green light to a Bitcoin exchange-traded fund (ETF). Think of an ETF as a new way for people to invest in Bitcoin.

Bitcoin Halving 139 Days Away

Adding to what Michaël van de Poppe said, there’s another big thing to consider—the upcoming Bitcoin halving event, just 139 days away. When this happens, the reward that Bitcoin miners get for doing the heavy lifting in verifying transactions and adding them to the blockchain is cut in half.

This reduction in the supply of new Bitcoins, paired with a growing demand, typically sets the stage for a surge in BTC’s price. As the cryptocurrency becomes scarcer and more desirable to investors, the anticipation surrounding this event adds an extra layer of excitement to the market.

As the crypto community eagerly awaits further developments, market participants are left contemplating the possible scenarios that may unfold in the coming weeks. 

Source: Read Full Article