Bitcoin Price Prediction: Hits $42,400 Amid ETF Ad Buzz & Election Pledges
In the world of cryptocurrency, Bitcoin’s price has caught the market’s attention once again. The digital currency has experienced a slight increase of 0.41 percent, reaching $42,403. This positive movement coincides with rumors that Google may start displaying advertisements for Bitcoin ETFs on its search engine.
Google’s Advertising Turnaround and Crypto Speculation
Starting on Monday, Google will allow advertisements for specific cryptocurrency products on its search engine, including Bitcoin exchange-traded funds (ETFs). This change aligns with the SEC’s recent approval of 11 spot Bitcoin ETFs. These ETFs give investors a share in the fund’s Bitcoin holdings and could potentially attract more inflows into the cryptocurrency.
Election Promises Shake Up Crypto Regulation Outlook
Both Donald Trump and Robert F. Kennedy Jr. have promised to halt the creation of a US central bank digital currency (CBDC) if elected president. They expressed concerns about government control and monitoring, highlighting the importance of safeguarding individual wallets and Bitcoin.
Bitcoin Price Prediction
Bitcoin is currently trading at $42,160, with resistance levels at $43,394, $44,372, and $45,581. Support levels are at $40,957, $39,644, and $38,618. The Relative Strength Index (RSI) is at 60, indicating a bullish trend. As long as Bitcoin stays above the $42,000 threshold, the trend remains bullish.
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