The price of Bitcoin in global crypto market trading was reported to be bullish, rising 12.96 percent to reach the level of 43,692 US dollars.
This spike was even recorded as the highest ever achieved by Bitcoin during trading in 2023, after last month, on October 11 2023, Bitcoin fell to its lowest level, namely at 26,533 US dollars, as quoted from Coinmarketcap data.
Apart from the reduction in interest rates in the United States (US) which sparked optimism and public confidence, the surge in Bitcoin this week occurred thanks to the encouragement of a spot bitcoin ETF which will reportedly soon be approved by the Securities and Exchange Commission (SEC) in January 2024.
This positive sentiment is what makes Bitcoin price movements continue to record sharp increases outperforming the prices of other crypto coins, with an overall increase of more than 165 percent year to date (YTD).
Before the price increase, a number of analysts predicted that the price of Bitcoin could reach 100,000 US dollars per coin. The famous financial investor, Robert Kiyosaki, even put forward his projection which said that the price of Bitcoin could soar to 135,000 US dollars.
Kiyosaki expressed this optimism after Bitcoin trading over the past week continued to experience a sharp spike. This positive sentiment makes Kiyosaki believe that the price of Bitcoin could increase to 135,000 US dollars in the near future.
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