Bitcoin Price Prediction as $40,000 Resistance Comes into Play – Can BTC Reach $50,000 This Week?
As Bitcoin soars to a striking $39,390, up by a significant 1.50% in the last day, the crypto community is abuzz with anticipation. This remarkable surge forms a crucial part of the broader escalation in the total cryptocurrency market cap, which has now eclipsed the $1.5 trillion milestone.
The spotlight is firmly on Bitcoin’s next potential feat: breaking the formidable $40,000 resistance. Speculations are rife, with some market enthusiasts, like Arthur Hayes, optimistically expecting December to bring further highs.
Simultaneously, financial experts like Jenny Johnson from Franklin Templeton are delving deep into cryptocurrency investing and exploring the integration of blockchain technology, keeping a close eye on the evolution of Bitcoin ETFs.
The question on everyone’s mind now is whether Bitcoin can sustain this momentum and catapult past $50,000 this week.
Arthur Hayes, former CEO of BitMex, is expressing excitement over potentially market-moving developments, jokingly referring to them as ‘gifts’ from ‘an old white man.’ This is a reference to Federal Reserve Chairman Jerome Powell’s imminent address.
Hayes is expecting a significant move—a rate reduction that could send Bitcoin to all-time highs. Historically, December has been a strong month for Bitcoin, particularly following successful closures in October and November.
Based on a review of Bitcoin’s quarterly results, Hayes anticipates Powell will soften policy and cut interest rates, fueling hope for a possible change in monetary policy.
According to Hayes, when the ‘money printer’ is metaphorically engaged, asset values rise, with Bitcoin leading the charge. Hayes’ audacious forecasts set the stage for an exciting December, with the potential for Bitcoin to
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