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Bitcoin Soared Beyond $39K, Is Bitcoin Poised For Another Bull Run?

  • Bitcoin, the biggest digital asset, has hit $39K per coin. 
  • Could Bitcoin be only up from here?

The price of Bitcoin hit a new high since April 2022, crossing $39k on Saturday afternoon amid anticipation of ETF approvals and global market influences.

This surge reflects growing excitement for potential Bitcoin exchange-traded products. Bitcoin’s value increased by about 1.5%, briefly touching $39,662 with a highly volatile price action before settling around $39,400 at press time. 

BTC Price Chart | Source: Coinstats

 

The move represents yet another higher high, another 2023 high, and has triggered several technical signals. More importantly, with BTCUSD now within striking distance of $40K, things are starting to get a lot more interesting for the cryptocurrency market.

The excitement around a Bitcoin ETF approval could be the cause of the most significant crypto fund inflows in two years, as reported by Bitcoinworld.

Read Also: OPNX Token Soar 50% Following Co-founder Su Zhu Unexpected Tweet

Other possible factors boosting Bitcoin’s value may include Binance’s record settlement and the election of Argentinian President Javier Milei, which led to a sharp increase in Bitcoin’s price in Argentina.

With the latest resistance taken, what’s next for the top cryptocurrency by market cap? Will Bitcoin soar above $40K? Will Bitcoin find its way back around $50K or possibly even all-time highs before the end of the month?

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