2023-10-21 19:30 |
With Bitcoin trading around $29,000 to $30,000 currently, analysts like Crypto Rover and Stockmoney Lizards see signs of a bullish resurgence incoming. Both make the case for Bitcoin hitting $40K based on key catalysts and chart patterns.
$40K in 70 DaysCrypto Rover predicts Bitcoin will reach $40K “in the coming 70 days.” This outlook is based on an expectation of massive inflows from a Bitcoin spot ETF approval. They estimate up to $300 billion could enter Bitcoin markets in the first year after an ETF launch.
Given Grayscale’s recent legal win, Rover believes SEC rejection of a spot ETF is unlikely. With deadlines for proposed ETFs like ARK in early 2023, this buying pressure could propel Bitcoin’s price substantially higher from current levels around $29k-$30k. A $40K target is viewed as an achievable milestone enroute to $100K.
Chart Targets Align With $45K-$50KStockmoney Lizards also sees $40K-$50K as a feasible target for this cycle’s pre-halving peak. Their analysis relies on Fibonacci extension levels that proved prescient in the past bull run.
Beyond that, they forecast Bitcoin tapping $200K+ at the cycle peak in 2025-2026 based on the same technical indicators.
Confluence of Signs Point to UpsideWhile timelines vary, the convergent upside targets from these analysts provide corroboration. The confluence of on-chain activity, technicals, and a potential ETF catalyst signals Bitcoin could exit its bear market slump and make a run at $40K in coming months.
If these projections materialize, 2023 could see Bitcoin regain its bullish trajectory enroute to reclaiming all-time highs by the next halving and cycle peak. For investors, these analyst targets provide hope that better days may be ahead after a brutal bear trend.
We recommend eToro 74% of retail CFD accounts lose money. Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading.Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
The post Analysts Reveal When Bitcoin (BTC) Will Reach 40k and 200k: Here Are Their Timelines appeared first on CaptainAltcoin.
Similar to Notcoin - Blum - Airdrops In 2024