Bitcoin Surpasses $30,000 Amid Growing Optimism About Imminent ETF Approvals After SEC ‘Capitulation’, and That Signals Boom Times for Bitcoin Minetrix

bitcoin (btc) surpassed the psychologically important $30,000 level amid optimism over the imminent approval of spot bitcoin ETFs after the Securities and Exchange Commission (SEC) dropped charges against two top Ripple executives last week. pass.

btc rose 2% to $30,502 at 5:50 a.m. ET after “Rich Dad Poor Dad” author Robert Kiyosaki added to positive sentiment by tweeting that bitcoin‘s next stop is $135,000. Trading volume increased by 27%.

Gold will soon surpass $2,100 and then take off. You will wish you had bought gold under $2,000. Next stop in gold: $3,700. bitcoin tests $30,000. Next stop bitcoin $135,000. Silver from $23 to $68 per ounce. F’d Fake Dollar Savers. Please tell your friends to “wake up”…

—Robert Kiyosaki (@theRealKiyosaki) October 20, 2023

The dominant cryptocurrency is up almost 10% in a week and lawyer Jeremy Hogan further adds to the positive sentiment as tweeted that “For all intents and purposes, the Ripple v. SEC case is over,” raising hopes that the regulator will soon approve spot bitcoin ETFs.

The regulator is also under increasing pressure to approve ETFs after Grayscale Investments won a court victory against it in late August.

The judge called the regulator’s decision to approve bitcoin futures ETFs, but not bitcoin ETFs, “arbitrary and capricious.” When the SEC decided not to appeal that decision on October 13, it further reduced the chances of approval of crypto spot ETFs.

bitcoin Price Targets

The odds still favor the rise of the bitcoin price. Further buying pressure may cause btc to break the psychological level of $31,000. However, to confirm a continuation of the rally, the price must break and close above $31,777.

The aforementioned level, which is already in sight for the price of bitcoin and which marks the latest high, is critical for the next directional bias. The level is also critical considering btc was rejected from here several times before. If btc records a decisive candle close above $31,777, the next bullish targets will be $32,000 and $35,000 in a highly bullish case.

For technical support, the Ichimoku cloud provides solid support, tracking the price of bitcoin from below. Its cloud, hovering around the $28,676 to $26,734 region, shows where btc could find support. The Relative Strength Index (RSI) remains in a north direction, indicating strong price strength or momentum at 77. As long as the RSI continues to point upward, bitcoin price will continue to rise amid increasing buying pressure.

The Awesome Oscillator (AO) indicator is showing large volumes of green histogram bars, suggesting that the bulls are leading the market. Perpetual traders looking to open new long positions should probably wait for btc to confirm above $31,777, about 5% above current levels.

On the other hand…

A rejection of the psychological level of $31,000 could cause bitcoin price to fall, which could turn the support floor at $28,676 into a resistance barrier. In the most serious case, the price could decline to test the demand zone, extending from $26,995 to $26,510.

This zone, defined by a huge population of buyers, is critical to bitcoin‘s bullish outlook. If it fails to hold as a support level, a break below its midline at $26,734 could start a downtrend. The bearish target for such a move would be the psychological level of $25,000.

As the continuation of the bitcoin price rally is pending confirmation, enlightened investors are looking at BTCMTX, one of the top 3 ICOs to buy in October 2023.

Promising alternative to bitcoin

BTCMTX is the token that powers the bitcoin Minetrix ecosystem. This is a new pre-sale cloud mining project based on ethereum (eth) that recently surpassed the $2 million mark in sales as investors purchase BTCMTX at current rates of $0.0112.

Advertisement! #BitcoinMinetrix has achieved a monumental milestone, surpassing $2,000,000 raised!

We are less than 40 minutes away from the start of Stage 3! pic.twitter.com/iZENKYsxcd

—Bitcoinminetrix (@bitcoinminetrix) October 23, 2023

The project promises to turn every willing investor into a btc owner, in a simple and straightforward process. The project has eliminated issues related to noise, heat, cost of hardware and space, scams due to third-party involvement, and overall affordability. Simply stake your BTCMTX tokens for credits and then redeem these credits for mining hash power.

That #BitcoinMinetrix brings to the table:

Ease of entry

Profitability

Without the need for large spaces and without noise

Don’t worry about resale pic.twitter.com/CGenMwjFS6

—Bitcoinminetrix (@bitcoinminetrix) October 23, 2023

bitcoin Minetrix is ​​in the third stage, which spans two weeks and the countdown is already underway. Join the community of enlightened traders flocking to this new cryptocurrency pre-sale.

Visit and buy BTCMTX here.

Also read:

New crypto mining platform: bitcoin Minetrix

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