- Bitcoin, the biggest digital asset, has hit $39K per coin.
- Could Bitcoin be only up from here?
The price of Bitcoin hit a new high since April 2022, crossing $39k on Saturday afternoon amid anticipation of ETF approvals and global market influences.
This surge reflects growing excitement for potential Bitcoin exchange-traded products. Bitcoin’s value increased by about 1.5%, briefly touching $39,662 with a highly volatile price action before settling around $39,400 at press time.
The move represents yet another higher high, another 2023 high, and has triggered several technical signals. More importantly, with BTCUSD now within striking distance of $40K, things are starting to get a lot more interesting for the cryptocurrency market.
The excitement around a Bitcoin ETF approval could be the cause of the most significant crypto fund inflows in two years, as reported by Bitcoinworld.
Other possible factors boosting Bitcoin’s value may include Binance’s record settlement and the election of Argentinian President Javier Milei, which led to a sharp increase in Bitcoin’s price in Argentina.
With the latest resistance taken, what’s next for the top cryptocurrency by market cap? Will Bitcoin soar above $40K? Will Bitcoin find its way back around $50K or possibly even all-time highs before the end of the month?