Bitcoin price is expected to be over $46,000 because of the approval of ETF and Robert Kiyosaki’s forecast of $150,000.

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The price of Bitcoin went up to over $46,000 because the US Securities and Exchange Commission approved 11 new ways to buy and sell Bitcoin. The SEC gave the green light after a group in Congress asked for a briefing on a false tweet about the regulator approving a bitcoin futures ETF. The tweet made bitcoin’s price go up for a short time on Tuesday, but it was removed later. The decision to allow spot bitcoin ETFs, which follow the real price of the digital currency, is expected to greatly help the crypto industry. It may bring in more big companies and regular people to invest in bitcoin.

Grayscale, the biggest digital asset manager, is one of the winners from the SEC’s decision. They changed their Grayscale Bitcoin Trust into a regular bitcoin ETF. Mom of Crypto, a well-known analyst for cryptocurrency, said that Grayscale and a good court decision were the main reasons why the SEC approved the bitcoin ETFs.

However, Robert Kiyosaki, the writer of Rich Dad Poor Dad, believes that the value of bitcoin will go up to $150,000 soon. He also said he will buy more bitcoin because he thinks it is a better way to protect against rising prices than gold or silver.

Congress wants the Securities and Exchange Commission to clarify a false tweet about a Bitcoin exchange-traded fund (ETF).

 

The Republican-controlled committee asked the SEC to explain a fake tweet from the SEC’s official account that was posted on Tuesday. The lie on the SEC’s X social media account about approving Bitcoin ETFs made the price of the cryptocurrency go up right away. The wrong information made the price of Bitcoin go up a lot.

In response to a positive development, traders moved in the hope that the SEC would approve Bitcoin ETFs. But when the SEC admitted that they had given out wrong information and took back their announcement, the way people felt about the stock market changed.

 

Apart from the fake post, the SEC’s final approval of the first Bitcoin ETFs to be listed in the US affected the price of the cryptocurrency. In general, the episode explains how rules and wrong information can quickly affect the price of bitcoin.

How Grayscale and a court decision made it possible to have Bitcoin ETFs, according to Crypto Mom.

 

SEC Commissioner Hester Pierce, also known as “Crypto Mom,” said that the Grayscale appeal from last year affected the approval of spot Bitcoin exchange-traded funds (ETFs). Pierce noticed that it has taken more than ten years for companies to get permission to sell spot Bitcoin ETFs.

 

In October 2023, the SEC changed its mind about something in the U. S The Appeals Court disagreed with the SEC and approved Grayscale Investment’s request to start a Bitcoin ETF. Even though the SEC said yes to 11 Bitcoin ETF applications, Pierce was mad at the agency for taking 10 years to do it. She thinks they should have admitted they were wrong before.

The ETF approval makes Bitcoin more valuable because it allows more people and organizations to buy and use it. This could make more people want to buy Bitcoin, raising its price.

Bitcoin ETFs and Kiyosaki’s prediction that Bitcoin will reach $150,000.

 

The person who wrote Rich Dad Poor Dad, Robert Kiyosaki, thinks that the price of Bitcoin will go up to $150,000 because of the U. S SEC has said “yes” to trading Bitcoin ETFs right away. Kiyosaki is glad he invested in Bitcoin early on. He wants to buy more Bitcoin and says he likes Bitcoin, gold, and silver more than regular money.

He thinks that as people sell silver to keep up with inflation, the price might go down. But the value of gold will go up because central banks are buying a lot of it. Kiyosaki, who is famous for saying fiat money is “fake money,” always backs other types of investments.

 

He thinks the price of Bitcoin could go up to $135,000 soon and even reach $1 million if the world economy gets really bad. This news increases people’s confidence in the stock market after the SEC’s approval and makes people feel even more positive about Bitcoin.

Bitcoin Price Prediction

Based on the 4-hour chart, bitcoin’s price is going up and it shows a positive trend. The pivot point is at $46,786 and it acts like a level that supports and holds back the price. The resistance right now is at $47,743. After that, it’s at $48,584 and then $49,509. The next levels of support are at $45,026, then $44,007, and then $42,589.

The RSI, which shows how fast prices are changing, is at 56, which means the market is balanced. The RSI is more than 50, which means that there is a little bit of positive feeling, but it is less than 70, which would show that it has been bought too much. The 50-day EMA, which helps show the average price, is at $45,014, just a little lower than the current price. This shows that the price of bitcoin is likely going up for the short term, because it is trading above the 50 EMA.

Bitcoin Price Chart
Bitcoin Price Chart

The chart also shows a pattern called double top, which means the price could go down, at the $47,750 level. This means that the price of bitcoin tried and failed to go higher two times, so it might start going down. But we can’t be sure the pattern is real until bitcoin’s price drops below $44,500. That is the level of support that connects the lowest points of the pattern.

The overall trend for bitcoin is going up because it is trading above certain points and moving within an upward channel. The prediction for the next few days is that the price of bitcoin might go up to $47,743 and could go even higher if people keep feeling good about the market. But if bitcoin drops below $45,026, it might start going down and reach $44,500.

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