Bitcoin topped $ 40 thousand levels Monday for the first time this year and hit a summit near $ 41750 levels thanks to ETF hopes and bets on Fed cuts.
Where it rose about 5% Monday and by more than 145% since the start of the year, marking the first time since May 2022 that bitcoin has breached the $ 40 thousand level.
CNBC reported last week that U.S. Securities and Exchange Commission officials met with representatives from Grayscale, BlackRock, and Nasdaq. , the SEC said it met with Grayscale on Thursday about a potential transfer to a traded investment fund.
This has boosted market confidence that Bitcoin's exchange-traded fund may eventually be approved, driving up the price of the world's largest cryptocurrency.
The forecast suggests that bitcoin is now heading towards $ 50000 which may depend heavily on the time of approval of the immediate bitcoin ETF.
On the other hand, it raised expectations that the Fed might have finished raising A rates.
