BTC
Bitcoin Price Chart – Source: Tradingview

The world’s leading cryptocurrency, Bitcoin (BTC), is making a significant rally fueled by renewed institutional interest. This surge in institutional investment has ignited a wave of bullish momentum, propelling Bitcoin toward the highly anticipated $30,000 mark.

The question on everyone’s mind now is: Can Bitcoin break through this significant resistance level and continue its upward zone?

In this Bitcoin price prediction, we will explore the factors driving Bitcoin’s rally and examine the possibilities of reaching the coveted $30,000 milestone.

BlackRock and DeutscheBank Pave the Way for Crypto Market Surge

BlackRock, the world’s largest asset manager, has recently made a bold move by applying to the US Securities and Exchange Commission (SEC) to launch a Bitcoin trust.

Despite previous rejections of Bitcoin exchange-traded fund (ETF) applications, many experts believe that this move by BlackRock signals a disguised application that could revolutionize the crypto market.

Adding to the excitement, Deutsche Bank, a renowned financial institution managing $1.4 trillion in assets, is actively pursuing regulatory approval to establish its cryptocurrency custody operations. This development brings a wave of positive implications for the crypto industry.

Deutsche Bank’s plan includes offering user-friendly crypto storage services to its vast customer base of over 27 million individuals.

With the increasing participation of major institutions like BlackRock and Deutsche Bank, the stage is set for a potential bull run in the crypto market, pushing Bitcoin prices higher and sparking optimism for Wednesday’s trading.

EDX Market Launch and Growing Institutional Crypto Interest Fuel Bitcoin’s Momentum

EDX Markets, on Tuesday, made a significant announcement of the successful launch of its digital asset market and the conclusion of an investment round involving new equity partners. The exchange now enables the trading of renowned cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).

EDX has garnered notable investors, including Charles Schwab, Citadel Securities, Fidelity Digital Assets, Paradigm, Sequoia Capital, and Virtu Financial. Plans for cryptocurrency trading platforms from Schwab, Citadel, and Fidelity were initially disclosed in June of the previous year.

Prominent market participants share EDX Markets‘ optimistic outlook on the US crypto market. Institutions’ increasing recognition of digital assets further strengthens Bitcoin’s standing as a valuable investment.

Bitcoin Price Prediction – Can It Break Through $30k?

The BTC/USD pair is currently showcasing a significant bullish trend, having successfully surpassed the resistance level at $27,000 and now targeting the next milestone of $28,300.

The possibility of reaching the important threshold of $30,000 is within reach, bolstered by positive technical indicators and the successful breach of the 50-day Exponential Moving Average (EMA).

BTC
Bitcoin Price Chart – Source: Tradingview

While a slight correction to the $28,300 level cannot be discounted, maintaining a position above this critical level could create favorable circumstances for upward momentum.

A breakthrough above the $30,000 mark would set the stage for a potential upward surge toward the subsequent resistance level at $30,900.

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