Bitcoin has entered an upward cycle. An analyst known for his 290,000 subscribers on the YouTube social network announced that Bitcoin has entered an upward cycle. In a video on YouTube, Jason Pizzino described the current state of Bitcoin as follows: Bitcoin when it reached the price of $15,000. It reached its price floor and this rate has been the lowest level of Bitcoin’s decline. Jason Pizzino continued that the first stage of Bitcoin’s rise is being prepared, and at this stage, the price of Bitcoin will reach $31,000. At this stage, contrary to the imagination of retail investors. The price of Bitcoin will increase. He believes that Bitcoin will go up in the long term, but currently the price of Bitcoin may decrease to 24,000 dollars.
In this regard, we have gone to other Bitcoin analysts.This analyst also says that Bitcoin has started an upward cycle. In this cycle, some important altcoins such as Chain Link and Avalanche will grow.
This analyst announced to his 200,000 followers that, along with Bitcoin, Chinalink and Avalanche are also preparing for a strong rise.
but Bloomberg analysts speculated the approval of the first Bitcoin Spot ETF
at the beginning of next year, following the changes Notable in Arc Investments’ ETF application, Bloomberg ETF analysts James Seyfarth and Eric Balchunas have predicted that the US Securities and Exchange Commission (SEC) could approve a spot bitcoin ETF as early as next year.
90% of their nose on the approval of Bitcoin Spot Ark Invest ETF by next year, they wrote that they expect this to happen in the first week of 2024. Bloomberg analysts had previously predicted (after Grayscale’s victory) that there is a 75% chance that the requests will be approved. The pending Bitcoin ETF will be confirmed this year. With all these analyses, do you think Bitcoin has entered an upward cycle? Will the price of Bitcoin be bullish or bearish in 2024?