I think a lot depends on the SEC approving some of the BTC ETFs
If they do, I can see BTC spiking up and staying there as it will now be considered more legitimate by some people.
If they do not I think we will bounce around and get back to $60k but above that will be hard until we hear some other form of good news.
-Dave
There are psychological factors too. If bitcoin reachs $60K, then it just will surpass it's ATH, I hugely doubt we will see different scenario. If it reach 60K and then falls without reaching ATH, then it looks like to have last step on ladder and instead of moving on the final ladder, just slip away.
The fact is that the governments and/or other major financial sectors just don't want bitcoin to reach ATH again and they do everything for that but the bitcoin is still very, very bullish, like never before! What do you think, will we reach new ATH again despite a such resistance?
Why would governments want to prevent a new ATH? A higher price would certainly demotivate a good part of potential investors even more than is the case now, although I am thinking primarily of retail buyers. Yes, I know that we can buy a small piece of BTC for a few tens of dollars, but still, most people already consider BTC an extremely expensive investment. I think the new ATH is very certain by the end of the year, and it’s not at all impossible for it to happen this month either.
It just looks like that to my mind. Bitcoin reaches certain points and then boom, China says some random shit to push it down.
1. After Elon Musk's statement BTC started rapid loss + exchanges were in stuck and it even lead further fall, it was regaining what it lost in a minutes but then boom, China announced something and it immediately pushed it harder like a knockout.
2. Recently, Bitcoin surpassed 50K and then suddenly China put another shit and Bitcoin felt again.
This makes me to think that the government of China (in this case) doesn't want bitcoin to rise, the moments they announce something is just an indicator of this.