BITCOIN has skyrocketed: how much more can the PRICE rise, according to experts
World cryptocurrencies There is currently a bullish rally in anticipation of US authorities approving Bitcoin ETFwhich, if realized, could mark a key step for the future of this market.
The price of the main cryptocurrency has reached its level in the last 24 hours. peak US$47,100but then it was moderated and now it’s somewhere nearby US$46,700. This is due to the possibility that the SEC, the US Securities and Exchange Commission, will give approval to several managers to create exchange-traded funds (ETFs) related to Bitcoin.
The approval of the Bitcoin Spot ETF was expected last week, causing both sudden enthusiasm and concern among investors. This led to strong price volatility. However, market reports now indicate that the new financial instrument could be approved next Wednesday, January 10th. If this happens, it will represent an important legitimation of BTC and the entire world of digital currencies, which may be reflected in significant price increase.
LMAX analyst Joel Krueger estimates that Bitcoin could quickly rise by 10-15% in case the ETF is given the green light. Meanwhile, the Bitget exchange says that the price of the cryptocurrency could reach $100,000 this year.
In this context, the global cryptocurrency market capitalization has increased by 4.8% in the last 24 hours, bringing its approximate valuation to $1.79 billion.
Meanwhile, Fear and Greed Indexwhich is a thermometer of the ecosystem as a whole, is in the “extreme greed” zone, up five points from Monday (from 71/100 to 76/100).
Bitcoin and Ethereum price: how much are they trading today, Tuesday, January 9
Bitcoin (BTC), the oldest and most popular cryptocurrency on the market, is up 4% in the last 24 hours to trade at around $46,730 today.
Despite the ups and downs seen in recent days, it’s worth remembering that BTC is up 158.4% year over year, according to Coingecko, a website that specializes in monitoring crypto asset prices.
Ethereum (ETH), in turn, noted an increase of 2.1% on the last day. Thus, the second most important cryptocurrency on the market began to be quoted at $2,302.