Bitcoin Price Analysis: What To Expect In The Next Couple Of Weeks - TokenTops
Bitcoin Price Analysis; What To Expect In The Next Couple Of Weeks
Bitcoin has been stable for the last two months, something we rarely get to say. Much of this stability has been credited to the market maturing and volatility going down. At the time of press, the digital asset is trading at $6,628. For the last couple of weeks, it has been stagnant at around $6,500 and only broke to $6,600, on October 08.
At the time of writing this, there is a widespread bear wave sweeping across the market. Although most cryptocurrencies started the day green, a bearish trend has swept the market. Now, it is up to the bulls to take over again and continue the surge onwards. Also, there is a need to find a high support level fast before the market begins to panic and bleed.
Bitcoin ETFs Dictating Prices Now
Most cryptocurrency enthusiasts are particularly keen on price movements at this time due to a possible bitcoin ETF approval by the SEC. Bitcoin always has an effect on other cryptocurrencies and its movements dictate the movement of the whole market. The SEC has set November 05 as the deadline to review nine bitcoin ETF applications. This means that leading up to that date prices will be particularly sensitive. Leading up to the decision, we expect prices to go up as speculation of an approval increase. If the SEC approve even one of the nine applications, pieces will explode. But should they reject all nine, prices are likely going to plummet.
However, many experts still believe that the SEC will not approve bitcoin ETFs until 2019.
It was around this time last year that bitcoin prices started picking up following rumors that bitcoin cash-settled futures would launch.
All eyes are on the market this month and in fact in all the 3 months remaining to the end of the year. If bitcoin ETFs are approved many expect that bitcoin will not only hit its all-time high but will go on to set new records. Many have made predictions on this, with the most prominent prediction being from Tom Lee, who expects bitcoin price to hit $25,000 by the end of the year.
Follow TokenTops on Twitter to stay notified about new articles, cryptocurrency news, ICO announcements and price predictions and analysis.
Legal Disclaimer: Please remember that trading, buying or any other type of investing in cryptocurrencies should be consider risky and may lead to the loss of all of the invested money. For further information visit Terms and Conditions section on TokenTops. We do not encourage our readers to any kind of financial decisions. Neither tokentops.com nor its parent companies accept responsibility for any loss, damage, or inconvenience caused as a result of reliance on information published on, or linked to, from tokentops.com. We believe that everyone should make their own and in depth research on the particular topic in various sources before making any financial decision and this person should be the only one responsible for the outcome. Our writers do their best to remain unbiased and don't actively support any project. The research is done with various sources, the predictions are based on own believes, analytical skills, experts and community discussions and is intended to convey general information only.
You may also like
Bitcoin Cash BCH Down By 5%, Market Still Struggling To Rally
NEO Leads Bullish Charge, Is The Reversal Underway?
Litecoin LTC Headed For A $20 Position, Can The Bulls Salvage The Coin From Its Wreckage?
IOTA (MIOTA) Price Analysis And Prediction-Tough End Of The Year For The Coin
Stellar XLM Soars Following Coinbase Affirmation Over Interest On XLM Listing
Monero Price: XMR Leads Bullish Rally As The Market Lights Up In Green
You need to login to create comments.