Bitcoin price made its investors slightly richer during the recent rally, which has probably induced FOMO (Fear Of Missing Out).
Bitcoin price trading around $34,700 has marked the highest weekly close in 78 weeks. Analyst on X, formerly Twitter, have cautioned investors against following the tempting trend as they have likely missed the breakout. Upon analyzing past instances, the next major buy window is expected in mid-December, when BTC would be around $28,000. Naturally, the next move by the majority would be to jump on the bandwagon, but some analysts are advising to pull back and wait until December.
While the next bout of major ETF news might take a while, in the upcoming week, Bitcoin will witness the US Federal Reserve's decision on interest rates as well as the release of Nonfarm Payrolls data. If the outcome of both events is per expectations, BTC might not observe much volatility and continue hanging around $34,700 and potentially even rise to tag $35,000.
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