Analyst Says Bitcoin at $45,000 Feels Mispriced for 2024 ETF Inflows, States BTC Is in the Process of Breaking Out

January 2, 2024

Bitcoin Analyst Says '45,000 Has Been Broken To The Upside,' Shares The Next Target For BTC

This past week, two influential crypto analysts, Andrew Kang and Rekt Capital, highlighted a confluence of potentially massive bullish catalysts for Bitcoin.

Kang notes that market consensus sees ETF approval as long-term bullish for BTC price action. However, he believes the more immediate impact of frontloaded inflows is being overlooked.

ETFs bring in consistent management fees; gold ETFs generate $720 million annually, for example.
Getting customers now locks in 10x+ more long-term value vs. later with crypto adoption curves.
ETF issuers will thus spare no marketing expenses in an urgent land grab.
Potentially rivaling 2021 apex bubble retail hype levels.

Rekt Capital additionally highlights Bitcoin’s process of breaking out of a multi-month consolidation pattern:

BTC revisited the key descending pattern before punching through resistance.
Significantly more daily closes are now occurring above the level to confirm.
Any throwback dips into previous resistance would fully validate the breakout.

And finally, the 2024 Bitcoin halving continues rapidly approaching. Historically, 12–18 months of pre-halving saw BTC ignite into parabolic bull runs. This timeline syncs up perfectly with the ETF/technical catalyst combo identified.

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In summary, ETF inflows, technical breakouts, and halving hype all simultaneously converging make a compelling case for the tremendous Bitcoin price appreciation potential ahead, argued the analysts this week.

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