Traders are betting that the price of Bitcoin will reach $50,000 by January. Do they know something we don’t.

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People are betting that Bitcoin will reach $50,000 by January as its price goes up and down.

This positive feeling lines up with the excitement about the approval of a Bitcoin investment fund, which is expected to make the price of Bitcoin go even higher.

 

Fidelity Investments is getting closer to launching its Bitcoin ETF called FBTC.

It is now listed on the DTCC’s active and pre-launch list. This move shows that the US Securities and Exchange Commission (SEC) might approve Fidelity’s Bitcoin ETF soon. This would put Fidelity at the front of the line in the US for the first Bitcoin ETF.

Jurrien Timmer, who works for Fidelity, thinks that the value of BTC could go up a lot in the future. He predicts it could be worth more than $1 billion by 2038.

He says Bitcoin is like gold because it can help protect against inflation. He thinks even a little bit of Bitcoin in an investment can make a lot of money.

Possible Effects of SEC’s Upcoming Decision and Market Guessing

The people who use cryptocurrency are eagerly waiting for the SEC to decide if they will approve different ETF applications, such as Fidelity’s FBTC and the Ark 21Shares Bitcoin ETF (ARKB). The decision that will be made by January 10 could make a big difference for how much big and small investors get involved in the crypto market.

 

The Bitcoin ETF approval is a big deal for Fidelity and could change how cryptocurrencies are used in the financial system. The Depository Trust & Clearing Corporation (DTCC) being part of this shows that the crypto industry is becoming more connected to regular finance systems. This could lead to more big organizations using crypto.

With all these changes happening, traders who buy and sell options are guessing that the price of BTC will go up to $50,000 by January. This guess is based on the belief that the SEC will approve including cryptocurrency in ETFs.

Experts believe that the price of Bitcoin could go up to $100,000 by the end of the year, showing that people are becoming more confident in cryptocurrency.

Bitcoin Price Prediction

 

The price of Bitcoin is going up steadily in a pattern on the 2-hour chart. This shows that Bitcoin is staying strong even when the market is unpredictable.

The price of BTC is now $43,953, which is slightly higher by 0. 27% in the last 24 hours. It has been staying around $44,000.

 

When we look at the important price levels, Bitcoin is currently at $43,000. It might face resistance at $44,693 and then at $46,000 and $47,077, which could limit how much it can go up.

The price has some support at $42,026, and there are more supports at $41,000 and $40,026. This could help the price from dropping too much.

Bitcoin Price Chart
Bitcoin Price Chart – Source: Tradingview

The RSI is at 58, which means it’s in the middle and leaning towards showing good signs for the market without being too high.

The 50-Day Exponential Moving Average (EMA) helps to support the idea that prices will continue to go up, because the price is staying higher than this important average. Furthermore, the patterns on the chart show that the price has been going up in a consistent way, which suggests that this trend is likely to continue.

Final thoughts and predictions about the market.

In the end, the overall trend for Bitcoin looks positive as long as it stays above $43,000. The market will be watching to see if it can break through resistance in the next few trading sessions. If the price keeps going up, Bitcoin might try to reach $47,077 soon.

 

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