Bitcoin has surged past the much-coveted $30,000 mark
This uptick comes on the heels of the crypto king's brief ascent past $30,000 on Oct. 16 which was spurred by a since-debunked news headline., the initial surge past $30,000 was prompted by fake news reports that claimed that the U.S. Securities and Exchange Commission had approved BlackRock's iShares Bitcoin exchange-traded fund application.
Many traders and market participants took this as gospel only to face disappointment. BlackRock swiftly countered these reports, clarifying that their ETF application remains very much under review. This news promptly ledYet, the cryptocurrency industry remains abuzz with anticipation over the potential approval of a spot-based Bitcoin ETF in the US, a move that many believe could be
Industry experts predict approval either late in 2023 or early 2024. Bitcoin advocates have been trying to launch such a product since 2013 with little success. If BlackRock's ETF is approved, Bitcoin's price might surge to between $42,000 and $56,000 based on expected investment inflows, according toAlex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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