It seems that there might be some exciting times ahead. Check out the latest reports about the BTC ETF approval below.

Here is a relevant tweet posted by Bitcoin Magazine:

Someone posted: “The crypto community is buzzing with Bloomberg’s analysis of an imminent SEC window for spot #Bitcoin ETFs. Approval could be a game-changer for institutional and retail investment.”

Someone else said: “The S.E.C takes weeks to months to review the comments. Not days or a week. The comment window closes tomorrow. They’re already saying the S.E.C is short-staffed and doesn’t have enough crypto experts which will delay the comment period slightly.”

Bitcoin price explodes

At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $36,640.

An anonymous crypto trader, known as Bluntz, has gained popularity for correctly predicting the bottom for Bitcoin (BTC) in 2018.

Bluntz recently shared with his 227,200 followers on the social media platform X that Bitcoin appears to be consolidating for two weeks.

Using the Elliott Wave theory in his technical analysis, Bluntz forecasts that Bitcoin’s price could initially reach $38,000 before eventually hitting $42,000 in a series of waves.

The Elliott Wave theory suggests that the price of an asset moves in a five-wave pattern during the main trend while the correction occurs in a three-wave pattern.

Not too long ago, we also revealed the fact that according to a renowned crypto strategist and trader, Bitcoin (BTC) is currently experiencing the early stages of a parabolic surge.

Kevin Svenson, a crypto analyst with a following of 130,100 on the social media platform X, has explained that Bitcoin usually undergoes a parabolic surge during its pre-halving year.

The halving is scheduled for April 2024 and is traditionally viewed as a bullish catalyst since it cuts BTC miners’ rewards in half. Check out our previous article in order to learn more details.

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