Two renowned analysts, Tony “The Bull” and Rager, share their contrasting predictions on Bitcoin’s future trajectory. While Tony’s analysis hints at a potential surge beyond expectations, Rager provides a detailed roadmap of events that could shape Bitcoin’s journey in the coming year. Dive into their insights to understand the possible twists and turns in the world of Bitcoin.
Tony “The Bull” (@tonythebullBTC), a top-notch analyst, recently shared his insights on Bitcoin’s potential price movement. Contrary to his ironic statement, “There is no way Bitcoin hits $150K+ before the halving,” Tony’s analysis suggests a bullish sentiment.
He referenced the Bitcoin CME Futures, which is on the verge of touching the 1M Parabolic SAR. Drawing parallels from historical data, Tony highlighted that the last time such an event occurred, Bitcoin surged by an impressive 499% over the subsequent six bars. If a similar 449% increase were to happen now, it would catapult Bitcoin to his ambitious target price of $161K.
On the other hand, Rager (@Rager), a famous Twitter analyst, has shared his perspective on Bitcoin’s trajectory over the next year. He predicts that the Bitcoin ETF might see a postponement until February. This delay could lead to a price pullback, with Bitcoin continuing its range-bound movement between $20k to $30k for the next six months.
By March, correcting his earlier mention of February, Rager expects the ETF to get approved. This approval could be a significant catalyst, potentially driving Bitcoin’s price up and possibly reaching the $40k range around the halving event in April. However, post-halving, Rager anticipates a temporary stall in price, followed by a slight pullback. But he remains bullish for the latter half of 2024. He expects a robust upward price movement starting around June/July, which could extend into early to mid-2025.
Delving deeper into the ETF landscape, Rager points out that the ETF deadline for BlackRock is in March, while the ARK approval deadline is set for January. He believes that the ARK ETF might not get the green light before BlackRock’s unless there’s a collective approval in January. Concluding his analysis, Rager envisions a choppy Bitcoin price until Q1 2024, after which he expects potential approval and a subsequent bullish run.
Both analysts provide valuable insights, and while their predictions differ slightly, it’s evident that the upcoming ETF decisions will play a significant role in Bitcoin’s price movement. As always, it’s essential to conduct personal research and consult with financial advisors before making any investment decisions.
You can review our Bitcoin (BTC) price prediction here.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
