Bitcoin & ETH Begin Trading on Wall Street — Could This Push BTC Again Beyond $120K and ETH to $5K?
Bitcoin and Ethereum have made their debut on Wall Street, setting the stage for potential price surges. With these digital currencies entering traditional finance, curiosity abounds about whether Bitcoin could soar past $120,000 and Ethereum hit $5,000. This article explores the key factors driving these possible price milestones and which cryptocurrencies might be poised for growth.
Bitcoin Eyes Resistance as Price Climbs in Bullish Trend
Source: tradingview
Bitcoin's price is climbing, sitting between $106,000 and $112,000. It is eyeing a key resistance at roughly $116,000, which could spark further growth. If Bitcoin breaks through this, it might aim for another level near $122,000. The coin's six-month price increase of nearly 24% suggests solid upward momentum, though short-term changes have been slightly downward. As Bitcoin stays above its support levels, it keeps potential for gains steady. The simple moving averages are mixed, hinting at a gradual yet promising upward trend. With encouraging RSI and stochastic values, Bitcoin seems set for a steady rise, aiming higher in the current market.
Ethereum Poised for Growth Despite Recent Dip
Source: tradingview
Ethereum's price currently hovers between $4169 and $4710, showing a slight decline of 5% over the past week. However, its impressive rise of nearly 25% over the past month and almost doubling over half a year highlights strong bullish sentiment. The nearest resistance lies at $5026, with another challenge at $5567, suggesting potential hikes of about 7% and 18% from the current top price. Support levels are found at $3942 and $3401, providing some stability. Despite fluctuating prices, Ethereum's upward trend, backed by technical indicators like RSI at around 56 and Stochastic at over 81, signals a promising future for further growth if current patterns persist.
Conclusion
Bitcoin and ETH trading on Wall Street could boost their visibility and acceptance. This move may attract more institutional investors. Increased interest and capital inflow might push BTC beyond $120K and ETH to $5K. The mainstream adoption could play a key role in driving these prices. More regulated trading platforms may also reduce some hesitations among traditional investors. If the momentum continues, BTC and ETH might reach these new heights.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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