{"id":181776,"date":"2023-09-25T07:40:13","date_gmt":"2023-09-25T07:40:13","guid":{"rendered":"https:\/\/precoinnews.com\/?p=181776"},"modified":"2023-09-25T07:40:13","modified_gmt":"2023-09-25T07:40:13","slug":"top-3-events-to-watch-this-week-could-bitcoins-price-breakout-soon-coinpedia-fintech-news","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/top-3-events-to-watch-this-week-could-bitcoins-price-breakout-soon-coinpedia-fintech-news\/","title":{"rendered":"Top 3 Events to Watch This Week: Could Bitcoin&#039;s Price Breakout Soon? &#8211; Coinpedia Fintech News"},"content":{"rendered":"<ul>\n<li>\n<p><span>Three key events in the coming week could shape Bitcoin&#8217;s price.<\/span><\/p>\n<\/li>\n<li>\n<p><span>All eyes are on Gensler&#8217;s Testimony, the release of the PCE rates, and Ripple&#8217;s Proper Party.<\/span><\/p>\n<\/li>\n<li>\n<p><span>Technical analysis suggests a possible rise in Bitcoin&#8217;s price, with a target of $31,000.<\/span><\/p>\n<\/li>\n<\/ul>\n<p>Bitcoin remains above $26,000, despite market fluctuations. However, the question is: Will it stay like that for long?<\/p>\n<p>The week ahead holds key events that could shape the crypto landscape, including the Ripple Proper Party and Gary Gensler&#8217;s testimony before Congress. With the SEC&#8217;s Bitcoin ETF decision looming in October, the focus turns to other significant occurrences. Technical analysis suggests a possible rise, with Bitcoin&#8217;s price eyeing $31,000.<\/p>\n<p>The possibilities are endless and it&#8217;s easy to get swept away in the chaos of the market. With Coinpedia, you don&#8217;t have to worry about that. Read on!<\/p>\n<h2>Price Recovery or Bear Trap?<\/h2>\n<p>The Bitcoin price movement is catching everyone&#8217;s attention. Although the previous week ended with a slight decline, this may be a temporary correction before an upward surge. Crypto analyst CrediBULL suggests that the recent dip could be a bear trap, setting the stage for a bullish resurgence, particularly eyeing the $27,000 threshold for recovery.<\/p>\n<p>But not so fast! Before getting too excited, traders should be aware of the other side. The analyst points out that the recent downward trend may deliberately create a bearish impression before a substantial upswing. This laid the focus on the critical level of $27,000 level.\u00a0So, that&#8217;s definitely one price point you need to watch.<\/p>\n<p>Also Read: Bitcoin Price Prediction: September Pullback Can Trigger Bullish \u2018Uptober\u2019<\/p>\n<h2>A Jam-Packed Week Ahead!<\/h2>\n<p>The week ahead is brimming with events that could sway the fate of Bitcoin.<\/p>\n<p><strong>Gensler&#8217;s Testimony<\/strong><\/p>\n<p>The top highlight is that SEC Chair Gary Gensler will testify before the House Financial Services Committee on September 27, 2023. This committee has a history of clashing with Gensler, particularly on crypto regulations.<\/p>\n<p>In an April 2023 session, Committee Chairman Patrick McHenry queried Gensler about Ethereum&#8217;s classification as a security or commodity. This may resurface in light of the recent XRP lawsuit ruling, which determined the token sale to retail buyers wasn&#8217;t a security.<\/p>\n<p>Also Read: Gary Gensler\u2019s Crypto Crackdown Under Fire: What\u2019s Expected on the September 27th Hearing?<\/p>\n<p><strong>PCE Index<\/strong><\/p>\n<p>Additionally, market enthusiasts will have to keep a keen eye on the Bureau of Economic Analysis as they unveil the PCE Price Index for August on September 29, 2023.<\/p>\n<p><strong>Ripple&#8217;s Grand BASH!<\/strong><\/p>\n<p>Ripple has also organized \u201cThe Proper Party\u201d on September 29, 2023, in New York City. This celebration marks a partial victory in their SEC lawsuit, signifying a step toward legal clarity. While this event may influence trader sentiment, no major announcements are anticipated.<\/p>\n<p>Read More: Ripple\u2019s NYC Proper Party: What to Expect on September 29<\/p>\n<h2><strong>Bitcoin&#8217;s Current Status<\/strong><\/h2>\n<p>As of the time of writing, the price of Bitcoin had fallen below the $27,000 threshold, trading at $26,177.00 per token, a decrease of 1.55% from its Friday high. Bitcoin\u2019s market cap is $510,324,694.639 at this pricing, down 1.54% from its previous all-time high.&nbsp;<\/p>\n<p>Source: <a href=\"https:\/\/coinpedia.org\/news\/https:\/\/coinpedia.org\/news\/ripples-proper-party-and-gary-genslers-hearing-a-pivotal-week-for-the-crypto-market\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Three key events in the coming week<\/p>\n","protected":false},"author":3,"featured_media":181775,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Top 3 Events to Watch This Week: Could Bitcoin&#039;s Price Breakout Soon? - Coinpedia Fintech News - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/top-3-events-to-watch-this-week-could-bitcoins-price-breakout-soon-coinpedia-fintech-news\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Top 3 Events to Watch This Week: Could Bitcoin&#039;s Price Breakout Soon? 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