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