The upcoming Bitcoin halving, potential ETF approvals are once again driving crypto analysts to new highs.
Dave The Wave says Bitcoin price will ATH within two years at the latest
The crypto analyst who predicted the May 2021 market crash depicted a bull run extending into 2025 in his latest predictions. According to Dave The Wave, Bitcoin will recapture its local tops next year. The analyst predicts that the gradual rise will lead to an explosion in 2025. Their analysis reveals their long-term prospects as follows:
Although I think the Bitcoin halving cycle will play an increasingly unimportant role as the market matures, it could still act as an incentive in the meantime. The price had previously exploded upwards when the monthly peak close reached the lower band of the LGC (logarithmic growth curve).
This suggests that the price will strengthen towards previous highs in 2024, with a breakout in 2025.
https://twitter.com/davthewave/status/1698856063238619300
Similar opinion Lark Davis drew attention to ETF news
The first ETF applications that fueled the crypto market in June, as reported by Kriptokoin.com, had a direct impact on the price rally. Santiment analysts also confirm that ETF news is effective in attracting funds. At that time, while the Bitcoin and altcoin markets were rising, the most popular searches on social media were:
Another analyst, Lark Davis, says that one of the main triggers of the next Bitcoin rally will be approved ETF applications. In his latest posts, the analyst argued that this rally could increase by over 350%. According to Davis:
Estimates are that a spot Bitcoin ETF would bring 20-30 billion fresh cash into Bitcoin. This means buying about half of all cryptocurrencies on exchanges at current prices.
Estimates are that a spot Bitcoin ETF would bring 20-30 billion of fresh cash into Bitcoin. That would buy about half of all coins on exchanges at current prices.
For reference here is what happened to gold when it got its first ETF approved on US markets.
History repeating? pic.twitter.com/CBNvZgMq18
— Lark Davis (@TheCryptoLark) September 4, 2023
Last week, the SEC postponed its decision on the most important spot Bitcoin ETF applications. As we reported as Kriptokoin.com, the next critical decision date will occur in mid-October.
Jim Cramer also gave the green light, but…
CNBC host Jim Cramer, a prominent financial figure, has earned the nickname ‘reverse indicator’ among the crypto community for his inaccurate predictions in recent years. Everything Cramer says turns out to be the opposite. It was instrumental in the Litecoin price rally last year. In his latest comments, he was unusually full of praise for Binance and BNB. Cramer’s words lead to contrary expectations among investors:
Binance still has not been able to verify their cryptocurrency reserves, they have only verified their collateral. However, CZ (Changpeng Zhao) seems to be a trustworthy figure. I believe in a bullish outlook on Binance and BNB (Binance Coin) right now. When I look at BNB, I see that it is oversold.
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