Amid the anticipation circling the Bitcoin Spot Exchange-Traded Fund (ETF) approval, crypto analyst CryptoQuant has made a bold prediction for the digital asset beforehand. 2 Major Scenarios For Bitcoin Price CryptoQuant, a well-known cryptocurrency expert, has revealed two major scenarios for Bitcoin in advance to BTC Spot Exchange-Traded Fund (ETF). According to the analyst, BTC will undergo a bullish and bearish scenario before approval from the United States Securities and Exchange Commission (SEC). The analyst’s prediction delves into Bitcoin price support and resistance analysis. CryptoQuant’s forecast was based on on-chain data of the average unit price of BTC holders. Related Reading: Analyst Predicts $570 Billion Inflow Amid Bitcoin Spot ETF Approval The post read: 2 Scenarios Before Bitcoin Spot ETF Approval and How to Respond. This post explains how to analyze the Bitcoin price support and resistance using on-chain data of the average unit price of #Bitcoin holders. For the bullish scenario, CryptoQuant noted that the percentage of daily to weekly holders is expected to increase by 8% if BTC reaches $48,500. This suggests “an overheated market and reinfo ..
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