Bitcoin BTC Price Prediction after ETF Approval 2024- 2025
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Bitcoin’s price has followed channel patterns for over a month with a shaky bounce. As investors await the US SEC’s judgment on spot Bitcoin ETFs, this consolidation appears to be a calm period before the upheaval. If accepted, a significant amount of Bitcoin could be injected, which would continue to drive the price upwards. If the breakout occurs above the channel pattern, potential buyers may have a chance to enter.
Will Bitcoin price surpass $50K in January 2020?
- Bitcoin’s price can remain sideways as long as the channel pattern remains intact.
- The buying momentum will accelerate at a bullish breakout of the upper trendline.
- A loss of 15% is indicated by the $17.4 Billion in Bitcoin trading volume intraday.
Bitcoin Price TradingView Chart
In December 2023, Bitcoin’s velocity began to decline, almost completely down below $45,000. This consolidation may have been influenced by the uncertainty surrounding the approval for spot Bitcoin exchange-traded fund (ETFs).
The daily timeframe chart shows that the channel pattern, which is made up of two parallel trendlines, has emerged out of the consolidation. The coin price has bounced off this dynamic barrier and support several times, indicating that traders have paid attention to this structure.
The price of bitcoin is more likely to break the trendline overhead, signaling the impending direction rally. Price targets for a post-breakout rally could be $52100 or $60000.
BTC Price Forecasts by Experts
Experts are divided on predicting the trajectory of Bitcoin’s price in light of a possible ETF approval. According to some, a Bitcoin ETF would result in a large inflow institutional capital. This could boost market efficiency, increase trade volumes and stabilize the price for Bitcoin, which is notoriously volatile.
The US SEC’s approval of spot Bitcoin ETFs might have a range of effects on the price of Bitcoin, according to predictions made by several specialists in both the mainstream and cryptocurrency industries. Below is a summary of some of most anticipated outcomes.
- According to Blockstream CEO Adam Back Bitcoin will likely hit $100,000 before halving by 2024. He showed his optimistic view by betting on Twitter that Bitcoin would reach this level by March 31st 2024.
- Bitwise predicts that Bitcoin’s price will reach $80,000 by 2024.
- Standard Chartered, a major English bank, predicts that Bitcoin will hit $100,000 by 2024.
- Tim Draper, a venture capitalist, is more optimistic and believes that Bitcoin will hit $250,000 by year’s end.
- According to Ric Edelman the founder of Edelman Financial Engines Bitcoin’s value will reach $150,000 over the next two years.
- With the SEC’s approval of Bitcoin spot ETFs, JPMorgan has projected that the price of Bitcoin will reach $15,000.
- ARK Invest is one of the most optimistic companies in predicting that Bitcoin will reach $1.48 Million.
- Matrixport estimates that Bitcoin could reach $56,000 in 2024 if an ETF for Bitcoin is approved.
- Lark Davis predicted that the price of Bitcoin will reach above $100,000, with a potential peak of $150,000 in 2024–2025.
- Tom Lee, of Fundstrat, believes that Bitcoin could reach $180,000 by the end of 2024.
Conclusion
As the deadline approaches for US SEC approval of Bitcoin ETF, enthusiasts and investors get excited. This significant event, if it happens, will have a major impact on Bitcoin and the cryptocurrency markets.
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