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While BTC Price is at the moment buying and selling at a brand new excessive in over 18 months, fashionable Bitcoin Maximalist Max Keiser believes there may be extra to return on this rally. The chance of a spot Bitcoin ETF approval in close to future and the Bitcoin Halving occasion which is prone to occur within the second quarter of 2024 set off hypothesis of a bull run for the highest cryptocurrency over the subsequent six months.

Also Read: US SEC Delays Grayscale Ethereum Trust ETF Decision to Jan 25

Max Keiser Predicts $100K In Current Cycle

Keiser, who’s appearing because the senior Bitcoin advisor to El Salvador President Nayib Bukele, a ‘God Candle’ in direction of BTC Price rise by $100,000 is at the moment at play. He said the playout of the God Candle will shock the world. In crypto, a God Candle is sometimes called a candlestick sample that follows an sudden worth rise, like gaining a 100% rise in an area of simply few weeks.

“A $100,000 God Candle is in play. A $100,000 uptick in Bitcoin price. This will literally shock the world.”

Previously, Keiser made a prediction for the cryptocurrency based mostly in hash charge changes. In 2021, he predicted that BTC would attain $220,000 by the tip of the yr. On the opposite facet, crypto analyst Dan Lim mentioned that BTC has reached the “strong bull zone,” an space reached within the preliminary stage of the 2020-21 bull run. This signifies that new sources of capital would start to enter the crypto market in present zone because of new traders taking positions.

The sturdy bull zone additionally means the share of BTC buying and selling in losses may be very low and can proceed to be the identical in a widespread rally.

What Next For BTC

Earlier, CoinGape reported in its Bitcoin Price Prediction that the value may attain as excessive as $48,257 if the assist had sustained. Positive developments across the spot Bitcoin ETF functions may act as catalysts for additional resistance breach. Following the modification of ETF filings by Blackrock, different candidates may additionally make modifications within the days to return.

Also Read: Elon Musk Gets Open Invitation to “Talk” From Argentina’s New President

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Anvesh stories main crypto updates round U.S. regulation and market transferring developments. Published over 1,200 articles thus far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or twitter.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

The introduced content material might embrace the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any accountability in your private monetary loss.