Bob Lukas, a trader with a significant following on Twitter and YouTube, shared his Bitcoin price prediction on social media platform X, forecasting a rise for the leading cryptocurrency. The analyst, known for his insights into the crypto market, issued warnings alongside his optimistic outlook.
He shared a three-month BTC/USD chart indicating the potential for extensive growth in Bitcoin’s price, suggesting that the cryptocurrency could reach as high as $74,000. Lukas, a crypto investor and YouTube blogger with about 250,000 followers on Twitter, posted a bullish message highlighting Bitcoin’s potential to surge by 2025, propelled by the momentum from the previous halving event.
Lukas’s Bitcoin chart illustrates significant bullish candles at the end of each four-year cycle, clearly indicating his expectation for price increases. He pinpointed a potential price level near $74,000 by 2025, surpassing the 2021 all-time high of $69,000. The trader anticipates the next Bitcoin price rally to occur at the end of the upcoming four-year cycle, just before the fifth halving in 2028, with the fourth halving of Bitcoin miner rewards expected in April 2024.
Venture capitalist and investor Anthony Pompliano recently discussed the status of the much-anticipated spot Bitcoin ETF with CNBC, expressing the belief that the SEC should approve not just one application but all, including those from BlackRock, Fidelity, VanEck, and Ark Invest.
Pompliano predicts that newly approved spot Bitcoin ETFs could see an inflow of $50 billion to $100 billion in the coming years, potentially generating annual fees ranging from $500 million to $1 billion. Consequently, he suggests that these ETFs are likely to spend several hundred million dollars on marketing alone.