Bitcoin price is struggling to crack resistance around $47,000 per coin, but it might not be long until it does thanks to the backdrop of bullish spot BTC ETF news. The news could also be supported by a change in mass crowd psychology, according to Elliott Wave Principle and the current projected count in BTCUSD. All of this could cause the top cryptocurrency by market cap to double in a flash.
The Countdown To Bitcoin Price Doubling
During every major bull run, there is a phase where the rally is supported by the regular occurrence of bullish Bitcoin news. If it all seems to arrive at once, this is due to the way mass crowd psychology works, according to Elliott Wave Principle.
When an asset, in this case BTCUSD, reaches what’s referred to as an impulse wave, humans begin to behave in an impulsive way, selling at the first sign of a correction, and buying every minor pump that ultimately gets retraced. Because so many market participants are entering during this phase, things get ex
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