3 Reasons why Bitcoin can Grow to $40,000 this Month (2024)

3 Reasons why Bitcoin can Grow to $40,000 this Month and Receive $20,000 as a result of the initial public offering of the bitcoin ETF project.

Reasons why Bitcoin can Grow to $40,000 this Month

The price of Bitcoin (Bitcoin-BTC) may reach the $40,000 mark in November this year for three main reasons.

which makes buying the currency of the bitcoin ETF project during its initial public offering (ICO) an indispensable opportunity for anyone who wants to take advantage of the growing popularity of the term Bitcoin ETF recently.

The three reasons that together may contribute to the price increase for leading digital currencies to the level of $40,000 this month - and possibly to about $60,000 at the beginning of next year - are as follows: the upcoming event to halve bitcoin, the expected launch of an exchange-traded fund for spot bitcoin trading. ETFs and the popularity of being called “digital gold".

It is noteworthy that the expected bullish market cycle, which is usually associated with bitcoin halving, has most likely already begun, which is the first main reason why the value of BTC is likely to double compared to its short-term price lows recorded in November last year.

The best way to complete your investment portfolio for an amazing profit is to approve the creation of a bitcoin ETF fund for spot trading

The second reason is the return of optimistic sentiment in the sector due to the increased likelihood.

that the US Securities and Exchange Commission (SEC) will approve the creation of an exchange-traded investment fund for spot bitcoin .

trading in January next year, which has already prompted traders to buy currencies whose name comes from BTC - as BTCETF (the base currency of the bitcoin ETF project) - to anticipate the expected approval of the creation of this fund.

Thus, traders are rushing to buy BTCETF coins during their pre-sale due to the unique mortgage feature in its technical system.

as the number of btcetf coins pledged has reached 3 million coins at the time of writing this article, and amazing annual mortgage income exceeding 10,000% has been recorded however.

these incomes will decrease as how more coins will be deposited into the smart contract of the mortgage mechanism.

Correlation of the burning mechanism with real events such as the total trading volume approval of the creation of bitcoin ETF funds for spot trading and their launch dates

The bitcoin ETF coin project was launched with a built-in burning mechanism of 5% for all transactions.

where a maximum of 25% of its total volume was allocated to the burning mechanism.

The innovative feature of this incineration mechanism is to link it to real events related to news related to the approval of the creation of a bitcoin ETF fund for its spot trading.

since the incineration processes were associated with the appearance of important innovations.

such as the approval of the creation of one of these funds, launch dates and the total market value of deposited assets.

For example, when the total trading volume of BTCETF reaches $100 million, the transaction fee will be reduced from 5% to 4%.

this project is also replete with other innovative ideas, for example, it is planned to reduce the commission for the sale of currency from 4% to 3% as soon as the creation of these investment funds is approved.

If you want to ride the wave of hype caused by the largest investment event in the crypto sector right now.

the bitcoin ETF project currency is the best way to prepare your investment portfolio to take advantage of the upcoming SEC approval of the creation of the first bitcoin ETF investment fund for spot bitcoin trading Commission.

It should be noted that the total supply of this currency is 2.1 billion coins, and the official website of the project contains a newsletter that allows you to get acquainted with all the new products related to bitcoin ETF funds and the exchange rate of BTC.

BTC ETF also provides you with the best way to take advantage of the upcoming launch of Bitcoin ETF funds for spot trading, and the pre-sale of this currency is still ongoing and the price is currently only $0.005.

It is noteworthy that the total return on targeted financing is slightly less than $ 5 million, and the pre-sale consists of 10 stages with a gradual increase in price, so investors should hurry up to buy this currency now at the lowest possible price.

Bitcoin is “digital gold” and btcetf provides a way to take advantage of this feature at a low price

The third reason why the bitcoin price is likely to reach the $40,000 level in November this year is due to the renewed popularity of bitcoin as a means of saving.

as the idea that it is a form of “digital gold” has returned to the fore again.

As noted earlier, the currency of the bitcoin ETF project allows you to take advantage of this third factor of increasing the nominal value of bitcoin.

It is well known that the factors of wars and periods of uncertainty about the fate of things significantly attract investors to safe investments such as gold.

and we can say that bitcoin is an upgraded version of gold, characterized by ease of trading and the possibility of partial investment in it, and no less important in terms of investment opportunities, but it is not entails the cost of renting safes for storing gold.

In the Merryn Talks Money podcast, the CEO and founder of Ark Investment Management says she would bet on bitcoin rather than gold or cash to protect herself from possible deflation in the next decade.

Source:... pic.twitter.com/34fCiZoEXd

— Titan of Cryptography (@Washigorira) November 3, 2023

With the currency of the bitcoin ETF project, a percentage of the proceeds will not be withheld as a commission, as it happens with ETFs.

Investing in the currency of the bitcoin ETF btcetf project is a less expensive way to take advantage of the impact of bitcoin price

fluctuations through bitcoin ETF investment funds for their spot transactions, since transactions with ETF shares are accompanied by a management fee.

Although commission deductions from realized profits are usually less than 1%, these deductions can accumulate and be very expensive, especially for those who invest large amounts.

Thus, when buying BTCETF coins, you will pay an amount that covers the transaction fee (gas fees) in the Ethereum blockchain only once.

instead of paying the accumulated commission annually.

Unlike trading Bitcoin ETF investment fund stocks, you won't need to worry about any annoying price tracking errors (when the price of the underlying asset differs from the prices announced in exchange-traded funds).

The US Dollar Loses Its Luster as Programmable Bitcoin Shines

We have already mentioned three main reasons that can lead to an increase in the value of Bitcoin up to 40,000 rubles.

but there are other positive aspects related to the macroeconomic conditions and technical fundamentals of bitcoin.

In this sense, the weakness of the US dollar index and stubbornly low inflation make deflationary assets such as bitcoin an excellent option for diversifying your investment portfolios.

even if it is not obvious when the inflation rate again becomes the main concern of politicians.

At the technical level, developments related to the release of non-exchangeable tokens (NFT) on the Bitcoin blockchain have shown how flexible and programmatically scalable it is, confirming that BTC theoretically and practically can continuously adapt and develop.

Despite the widely discussed management limitations that have slowed its progress in the past.

the hype around the “inscriptions” function has shown new prospects for use, noting that the inscription mechanism allows the blockchain to be used for new purposes, such as storing some non-exchangeable tokens (NFT).

Even if you are skeptical about the additional value of the proposal to issue NFT on the Bitcoin blockchain, its very existence confirms the scalability of the Bitcoin blockchain.

since the number of transactions on the Bitcoin blockchain increased when NFT innovations began to be released on it.

which caused criticism from some parties that this interferes with the blockchain mechanism and increases the commission for its transaction network but he demonstrated the innovative potential of the Bitcoin blockchain.

in contrast to the sterility of official (fiat) currencies, which are not amenable to software scaling.

How approval of the creation of a bitcoin ETF fund for spot trading can push the price of the BTC currency to reach the $60,000 mark during 2024

As its price has stabilized again at $35,000, traders expect the value of Bitcoin (Bitcoin-BTC) to rise to levels in the range of $47,000 to $60,000 during 2024.

if it continues to trade within its current upward price channel, it will reach $40,000 by January.

The BTC exchange rate may make a strong leap during January, as the tenth of this month will be the deadline for the decision by the U.S.

Securities and Exchange Commission (SEC) to approve the creation of the bitcoin ETF fund of Ark 21 Shares.

If its creation is approved, the BTC price may exceed this channel upwards and head towards the $47,000 level, as it is likely to face a strong resistance level formed in advance during April 2022.

Bloomberg Intelligence analysis shows that the probability of approval of the creation of one of the investment funds for bitcoin spot trading (bitcoin Spot ETFs) reaches 90%, and if its forecasts are correct, many other approvals may follow.

including iShares Bitcoin Trust ETF BlackRock, which is considered the largest asset management company worldwide.

Perhaps what reinforced these expectations and confirmed the conviction that approval is considered inevitable is the inclusion of iShare fund in the list of DTCC stock symbols for completing and registering transactions on US stock exchanges.

But although the inclusion of the iShares ETF stock symbol in the list does not mean confirmation of its approval, it is considered a step that indicates the likelihood that this is about to happen.

noting that no other bitcoin Spot ETFs stock symbol has been included in the DTCC list.

In this regard, it should be noted that this news led to the restoration of transactions with bitcoin, and its price within two days reached the highest level recorded in 18 months.

at $ 35,180, which is the current trading price.

It is reported that price stability after breaking the $47,000 barrier could pave the way for new highs to reach the $60,000 barrier, as well as the possibility of testing their record highs at $68,000.

Approval of the creation of bitcoin ETF funds for spot trading and btcetf currency may open the door to new cash flows

As mentioned earlier, there are 3 main reasons that could push the value of bitcoin to test the $40,000 level.

and it is not surprising that the main attention of industry participants is focused on expectations of the imminent approval of the creation of bitcoin ETF funds for spot trading.

in addition to the possibility that other digital currencies inspired by the name BTC, Such as BTC ETF will open the doors to new investment flows.

Bitcoin ETF funds can allow both small investors and institutions to benefit from bitcoin price fluctuations in a simple and secure way without having to risk their money through non-existent platforms such as FTX, where investors' funds can be exposed to fraud and various risks.

The list of applicants for the creation of spot bitcoin ETF funds includes a number of the largest and best investment

management companies, ranging from BlackRock to Fidelity, and others such as ARK Invest, and the entry of regulated companies such as these into the world of cryptocurrencies may pose a threat to some long-established companies operating in the field of cryptocurrencies.

in the sector as centralized trading platforms. In turn, this can mean greater security and opportunities for small investors, as well as provide institutions with legal ways to participate in the crypto sector.

In conclusion, it should be noted that the pre-sale of the currency of the bitcoin ETF project (BTC ETF) will begin today, providing investors with the most reasonable way to take advantage of the recently growing popularity of the bitcoin ETF concept. Investing in btcetf currency may be the best thing that can happen to your investment portfolios.