Bitcoin started touching the sky: According to experts, how much more can the price increase?

of World cryptocurrency At this time, there is a bullish rally in the hope that the United States authorities will approve bitcoin etfWhich – if realized – could be an important step forward for the future of this market.

The price of the major cryptocurrency reached a level in the last 24 hours. peak of US$47,100But then it softened and now it’s around US$46,700, This is due to the possibility that the SEC, the United States Securities and Exchange Authority, will approve multiple managers to create exchange-traded funds (ETFs) tied to Bitcoin.

A Bitcoin spot ETF was expected to be approved last week, causing both excitement and disappointment among investors. As a result a strong price volatility, However, market volumes now indicate that the new financial instrument could be approved as soon as next Wednesday, January 10. If this happens, it would mean a significant legitimization for BTC and the entire world of digital currencies, which could be reflected in a significant increase in prices,

LMAX analyst Joel Kruger speculates that Bitcoin could rise sharply by 10% to 15% If the ETF is given the green signal. Meanwhile, Bitget exchange says the price of the cryptocurrency could reach US$100,000 this year.

In this context, the global capitalization of the crypto market climbed by 4.8% in the last 24 hours, bringing its estimated valuation to $1.79 billion.

meanwhile, fear and greed indexWhich represents a thermometer of the ecosystem in general, is located in the zone of “extreme greed”, with a gain of five points compared to Monday (from 71/100 to 76/100).

Bitcoin and Ethereum price: how much they are trading at today, Tuesday, January 9

Quotes of major cryptocurrencies today. Source: Coingeco.

Bitcoin ,B T c), the oldest and most popular cryptocurrency on the market, saw its price increase by 4% in the last 24 hours and today stood at approximately US$46,730.

Despite the fluctuations seen in recent days, it should be remembered that BTC has gained 158.4% on the year according to Coingeco, a site specializing in monitoring the price of crypto assets.

Ethereum ,ETH), for its part, recorded a rise of 2.1% on the last day. Thus, the second most relevant cryptocurrency in the market started to be quoted at US$2,302.


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