Bitcoin (BTC) has reached a level not seen since May 2022 as positive winds continue to blow in the cryptocurrency market.
For about 2 weeks 38 thousand dollars Bitcoin, which adopted the band as resistance, finally broke this level. Finally 24 November with its upward performance on the day Since May 2022 Bitcoin reached its highest level ever to $38,436 He threw a needle.
Especially lately spot Bitcoin exchange-traded fund (ETF) The increasing expectation that their applications will be approved has brought money flow and a positive atmosphere to the cryptocurrency market.
The cryptocurrency market, which has stood out with its upward movements since the beginning of the year, has shifted into gear as of the beginning of October. early october 26,900 Bitcoin, which is a dollar, at the time of writing from $37,600 is being traded.
US-based cryptocurrency exchange in parallel with the rise of Bitcoin Coinbase (COIN) shares too Since May 2022 saw its highest level. COIN, which was $100 at the beginning of November, On November 24, for $116 reached.
However, Bitcoin miners CleansSpark (CLSK), TerraWulf (WULF) And At Marathon Digital Holdings (MARA) It was among the stocks that performed well in a short time. Shares of the companies, respectively, on Friday, November 24 14.8%, 14.5% And %4.49 increase exhibited.
Bitcoin could break $40,000 this weekend
CEC Capitel cryptocurrency investment advisor made a statement about the rises Laurent KssisWhile he stated that the spot Bitcoin ETF approval would pave the way for institutional investors to get involved in the game, the price will increase this weekend. You can break 40 thousand dollars He suggested:
Institutional investors cannot trade on unregulated cryptocurrency exchanges due to restrictions from regulatory authorities. However, if Bitcoin ETFs are approved, the ease of trading and legal framework that will emerge will pave the way for institutional investors to invest in Bitcoin. Once ETFs are approved, BTC’s volatility will also increase. While this will create additional risks for investors, it will also create opportunities for arbitrageurs. We wouldn’t be surprised if we see $40,000 broken this weekend.