The Bitcoin price tumbled 0.5% in the last 24 hours to trade at $43,223 as of 4:45 a.m. EST as trading volume plunged 7.6% to $26 billion.
Still, a cryptocurrency analyst who hosts the InvestAnswers channel on YouTube sees BTC easily hitting $100,000 in the incoming bull run.
The analyst says that the likelihood of Bitcoin hitting $45,000 before Christmas is high, and he believes that surpassing the $50,000 mark is within reach.
To support his predictions, he conducted a comprehensive analysis based on the average duration from Bitcoin’s three prior halving events to the point where the leading cryptocurrency attains new all-time highs.
Taking into account that the next halving event for Bitcoin is anticipated on April 17th, the analyst highlights an interesting observation.
He points out that 175 days after this impending halving, precisely on October 8th, 2024, marks a potential timeline for the cryptocurrency to achieve new record-breaking highs.
The Bitcoin Price: Bulls Target $50,000 High
Bitcoin has breached the upper boundary of the ascending triangle pattern. The trading price is currently positioned above the 50-day and 200-day simple moving averages (SMAs), affirming the bullish momentum and establishing immediate support.
The Relative Strength Index (RSI) is also bullish, currently trading at 75, having rebounded from the neutral level of 50
Bitcoin Price: Bullish Investors Target $50k
Bullish investors may target a peak of $50,000 in the coming weeks, reminiscent of the peak observed in March 2022.
However, if bears capitalized on this upward momentum, they would exert downward pressure on the price, causing a retracement toward the $38,500 support level aligned with the lower boundary of the ascending triangle.
Given the expectation of a surge in Bitcoin’s value, the BTCETF token stands to gain significant momentum, offering a compelling alternative where the success of Bitcoin translates into success for investors as well.
BTCETF Token Secures $3 Million: 48 Hours to Price Hike
The BTCETF Token, an ERC-20 token crafted to reward holders based on the success of Bitcoin ETF approvals, is garnering substantial attention within the cryptocurrency community.
Positioned to leverage their approval, this visionary project offers a gateway to the evolving crypto world. 💡 pic.twitter.com/eiMUbIfXeD
— BTCETF_Token (@BTCETF_Token) November 23, 2023
The BTCETF Token has successfully obtained $3.05 million in funding and is rapidly approaching its $3.4 million milestone. Currently, BTCETF tokens are available at a reduced rate of $0.0064. This price will, however, rise in just under 48 hours.
— BTCETF_Token (@BTCETF_Token) December 4, 2023
Get BTCETF, Stake, Earn High APY
In addition to acquiring and holding your BTCETF tokens, there’s an opportunity for you to earn through the platform’s staking feature.
This appealing staking option has captured the interest of many investors looking for passive income, all while anticipating the potential surge in the token’s value upon the approval of spot Bitcoin ETFs.
Buying and staking BTCETF tokens secures an impressive annual percentage yield (APY) of 89%.
Cilinix Crypto, a YouTuber and cryptocurrency analyst, delves into the token’s potential, saying how the anticipation of approval for spot Bitcoin ETFs is fueling significant excitement and set to drive the price of BTCETF.
To buy BTCETF, visit the Bitcoin ETF official site, connect your Web3 wallet, and swap your ETH, USDT, or MATIC for BTCETF tokens. Alternatively, you can use your bank card to buy the tokens directly.
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