RATE Group | Bitcoin Price Analysis: Is Bitcoin Approaching a Turning Point?
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Bitcoin Price Analysis: Is Bitcoin Approaching a Turning Point?

23 Sep Bitcoin Price Analysis: Is Bitcoin Approaching a Turning Point?

Posted at 20:56h in Bitcoin News by

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Bitcoin surprised the world and rallied after the SEC postponed a decision on the Van Eck/ Solid X Bitcoin ETF. At the same time, XRP, ETH and few other altcoins posted impressive gains. Are cryptocurrencies approaching a turning point?

Market Overview

This has been a fantastically exciting week for cryptocurrencies. XRP pulled off a 100% gain, Stellar Lumens is on a run and Bitcoin (BTC) 00 managed to briefly pop above $7,800. The crypto-hemisphere is also buzzing with positive news.

Tim Draper has returned with his $250,000 Bitcoin price prediction, and Mike Novogratz of Galaxy Digital has called $6,000 the absolute bottom — now believes that $6,800 and $8,800 represent the crucial resistance levels BTC must cross in order to close the year slightly above $10,000.

The SEC followed it’s typical process of making public announcements days before the scheduled date. The most recent statement regarding the Van Eck – Solid X Bitcoin ETF is not necessarily negative. According…

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