A well-known crypto market analyst has suggested that Bitcoin could surpass $40,000 at any moment. The analyst emphasized that ongoing developments with the SEC and possible ETF approvals may continue to push the market higher.

The cryptocurrency analyst, known as The Flow Horse on social media, offered a positive view of Bitcoin to his followers on platform X. The analyst noted that there is little reason to sell BTC under the current conditions. Furthermore, the analyst believes that Bitcoin will continue its upward momentum until the possible approval of a spot market Bitcoin exchange-traded fund (ETF) by the United States Securities and Exchange Commission (SEC) by January 10, 2024.
Other factors that are expected to continue driving Bitcoin's price higher include the halving event, which will take place in April 2024. In this event, miners' rewards are halved, and the Federal Reserve's expected rate cut next year also usually means upward momentum for risk assets like BTC.
The analyst also emphasized that if the SEC approves spot Bitcoin ETFs, prices will rise immediately. The analyst stated that almost all prices will be higher if the ETF approval gets the green light, and he really believes that they will be at a higher level than the current situation when the ETF goes live. #ContentStar #GatePost