Bitcoin Price Prediction as BTC Blasts Up 5% After Huge Volume Spike – Can BTC Reach $40,000 Soon?
Bitcoin (BTC) has broken its downward trend and surged above the $27,000 mark, marking an impressive comeback after two weeks. However, this surge can be attributed to a legal victory for Grayscale in the United States.
The court ruled favorably for Grayscale in its legal battle against the Securities and Exchange Commission (SEC). As we know, the focal point of the legal battle was Grayscale's endeavor to convert its Bitcoin Trust into an Exchange-Traded Fund (ETF).
Hence, the favorable ruling has injected a fresh wave of optimism among traders and investors, propelling crypto market prices on an upward trajectory.
According to the latest data, the global crypto market capitalization has expanded by approximately $50 billion in the past 24 hours, showing nearly 4% increase and reaching around $1.13 trillion.
The Bitcoin Amsterdam conference, scheduled from October 12 to 14, is making waves in the crypto industry. The conference boasts an impressive lineup of speakers including Adam Beck, Ray Youssef, and Tom van Lamoyen, a prominent crypto advocate from the Netherlands.
The Netherlands is displaying a remarkable enthusiasm for cryptocurrencies, with the central bank approving operations for 36 crypto firms. This signals a positive trend in crypto acceptance and growth.
The global political landscape is showing increasing support for cryptocurrencies. Politicians in Liechtenstein and Poland are pushing for full legalization and integration of crypto into public services.
US Senator Cynthia Lummis and Robert F. Kennedy Jr. have also endorsed cryptocurrencies, demonstrating the widespread recognition of their potential for financial innovation.
This political backing holds significant promise for the broader adoption and
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