On Nov. 12, Bitcoin (BTC) reached $37,000, its highest level for 18 months. The increase came amid growing optimism that US regulators will soon approve a spot Bitcoin exchange-traded fund (ETF), which one analyst says could lead to the next bull run.

Market analysts looking at historical data suggest that an ETF approval could cause the asset’s price to rise further. One pundit on social media platform X (formerly Twitter) suggests this price rise could be the biggest Bitcoin bull market.

Bitcoin Close to Biggest Bull Run in History

Cryptocurrency analyst el_crypto_prof suggested on X that Bitcoin is on the cusp of “the biggest bull run of all time.” The expert said that Bitcoin recently flashed a rare buy signal, last seen eight years ago. The signal can be read on a chart using a long time frame.

Read more: A Guide on How to Read Crypto Charts

Bitcoin has also risen above the 20-day Simple Moving Average (SMA) line, which the expert calls an important level. These mechanics suggest that Bitcoin could soon break out into its largest

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Author: David Thomas

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