CryptosRUs Analyst Predicts Bitcoin Surge to $40,000
A crypto analyst from the CryptosRUs channel has predicted that Bitcoin’s price could soon surge to $40,000. The analyst believes that several key factors could drive this price movement.
Potential ETF Approvals
The CryptosRUs host cites the potential approvals of Bitcoin ETFs by asset managers like BlackRock and Grayscale as the main catalysts. These major players have likely already received indications from the SEC that their ETF applications will be approved.
Supportive Comments from Former NYSE President
The analyst also points to supportive comments from the former New York Stock Exchange president, who stated that money would flood into Bitcoin once an ETF is approved, making purchasing easier.
Upcoming Halving Event
The analyst believes that Bitcoin’s upcoming halving event in approximately 150 days could supercharge any spot ETF-driven price gains.
Massive Price Surges After Previous Halvings
The analyst mentions that Bitcoin has seen massive price surges after previous halvings, with gains as high as 5,300% in 2013. While not predicting similar percentage gains this cycle, he believes that 10-15x is very possible.
Hot Take: Bitcoin Could Reach $40,000 Soon
A crypto analyst predicts that Bitcoin’s price could soon surge to $40,000. This prediction is based on potential ETF approvals and the upcoming halving event. The analyst also points out that major asset managers like BlackRock and Grayscale may have already received indications of their ETF applications being approved. Furthermore, supportive comments from the former NYSE president suggest that an approved ETF would attract more money into Bitcoin. Additionally, the analyst highlights the historical price surges that followed previous halving events. While not expecting the same percentage gains, a 10-15x increase in price is seen as very possible.
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