Bitcoin has reached a 19-month high, and leading crypto analysts anticipate that it will continue to rise well into next year.
Over the past few months, there has been widespread anticipation within the digital asset industry regarding the potential launch of a Spot Bitcoin ETF.
As seen by Microstrategy’s recent move, the company recently added more Bitcoins to its BTC bank, purchasing approximately 16,000 additional bitcoins.
Talking about the current major supports and resistance, the token is currently facing heavy resistance at the price level of $42,500 and $43,000.
The rebound of the Bitcoin price reflects increased investor trust in digital assets, particularly in light of macroeconomic and financial sector events.