As Bitcoin (BTC) approaches the $44,000 mark, investor expectations for the leading cryptocurrency are on the rise. Some experts suggest BTC could reach new highs by 2024. The excitement surrounding Bitcoin ETFs suggests a probable path to new peaks for BTC. Last week, BTC maintained an upward trend, with a more than 3% increase, trading at $43,912.86, with a market cap exceeding $860 billion, according to CoinMarketCap.
Analyst PlanB, creator of the Stock-to-Flow (S2F) model, predicts Bitcoin could surpass $100,000 in 2024 and reach $532,000 by 2025. These forecasts come at a time when Bitcoin ETFs are a hot topic in the market. Experts believe that if ETFs are approved, investors can expect BTC prices to soar to new heights.
Crypto Tony, another prominent crypto analyst, anticipates BTC could hit $50,000 if ETFs are approved. While a $100,000 target may seem ambitious, and it’s still early for such predictions, Tony has optimistic news for investors.
Following a series of analyst statements, a different crypto analyst known as Captan Faibik on Twitter noted the tightening of BTC’s Bollinger Bands on the daily chart, expecting BTC’s rise to continue and prices to increase in the coming days. Data from CryptoQuant indicates an uptrend in BTC’s binary CDD, suggesting below-average activity from long-term investors over the past week. Furthermore, the Coinbase Premium implies a strong buying sentiment among US investors.
In summary, expert analysis and market indicators point towards a bullish future for Bitcoin, with potential all-time highs anticipated in the coming years, especially if Bitcoin ETFs gain approval, signaling increased mainstream adoption and investor confidence.