RATE Group | Analysts: A Bitcoin (BTC) Breakout Could Be Happening In November
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Analysts: A Bitcoin (BTC) Breakout Could Be Happening In November

06 Sep Analysts: A Bitcoin (BTC) Breakout Could Be Happening In November

Posted at 20:10h in Bitcoin News by

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Throughout summer, Bitcoin price has been swinging between $6,000 and $8,000. However, according to some price analysts, Bitcoin price may well see a breakout come November. Forbes’ Billy Bambrough opines that market experts expect the breakout as early as November this year. However, he recognizes that a section of these experts are pegging their hopes on September, with the end month favored.

The Prospects

This breakout is expected because of two primary reasons: First, SEC is deliberating on whether to approve the Bitcoin ETF application presented by SolidX/VanEck. The decision is set to happen on or before September 30, and hopes are high that the proposal might be approved especially after the decision was delayed. Also, the fact that SEC announced its decision to review 9 other ETF applications turned down recently is another strong indication that things could turn out positive for the crypto.

Secondly, the Intercontinental Exchange (ICE), which is NYSE’s parent company, is…

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