Bitcoin Prices on the Rise
If you have been following Bitcoin, you may have noticed the significant surge in prices. Over the past 24 hours, the leading cryptocurrency has surged by an additional 4%, contributing to an impressive 22% gain in the last seven days. Renowned crypto investor and analyst Marc van der Chijs has recently offered intriguing insights into the post-ETF Bitcoin charts, unveiling compelling price predictions for the next 3 months.
Daily Surge: Bitcoin Adds $1000
Van der Chijs pointed out that more people investing in Bitcoin through Exchange-Traded Funds (ETFs) are making the price go up by 2% every day. Thatβs like adding $1000 to its value each day. Currently, these inflows surpass the newly created BTC by 10-12 times. Van der Chijs highlights that individuals are strategically selling their BTC at higher prices to fulfill ETF orders. This not only drives prices higher but also triggers FOMO (Fear of Missing Out) among ETF investors.
Impact of Upcoming Events
With a keen eye on the charts, Van der Chijs has identified two crucial factors that could contribute to a significant surge in Bitcoinβs value. First, the upcoming halving of BTC mining rewards in mid-April will reduce the daily production of new coins from 900 to 450, intensifying the supply shock. Second, financial advisors will gain the ability to sell a new ETF after 90 days of trading by early May, meaning more people might want to buy Bitcoin.
BTC Price Projection
Further Van der Chijs acknowledged that the market new territory, but he thinks Bitcoin might go up by $1000 every day in the coming weeks. Looking ahead to the upcoming Bitcoin halving and the introduction of a new ETF, he believes this surge could intensify. As a result, he predicts the possibility of a new all-time high, potentially surpassing $69,000 before the halving. And thereβs a chance that Bitcoin could hit $100,000 in the next 2-3 months unless something unexpected happens. Meanwhile, Marc van der Chijsβ straightforward analysis provides a clearer outlook for Bitcoinβs future, capturing the attention of both new and seasoned investors.
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