According to crypto expert Crypto Rover, Bitcoin’s price surge is only just beginning thanks to major bullish factors like the upcoming Bitcoin spot ETF.
In a recent video, Rover explained his optimistic outlook on Bitcoin’s future growth. He pointed to the fact that “more than 84% of the total supply of Bitcoin has not moved in over six months now”, indicating strong hodling sentiment among long-term investors.
Rover also discussed the importance of Bitcoin holding above the $34,000 level. If it can maintain this support, it will be in a good position for future gains. However, he warned that “if Bitcoin will ever have a potential retest of 31.5k, I will be the one that actually is going to be opening up a massive long position over there.”
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Spot ETF to Accelerate Adoption
One of the main catalysts Rover sees pushing Bitcoin’s price higher is the upcoming Bitcoin spot ETF, which he notes is “literally coming within the coming 75 days.” Rover believes this will expose substantially more investors to Bitcoin and drive up demand.
Time to Accumulate BTC Over Altcoins
Given Bitcoin’s bullish setup, Rover advised viewers against putting fresh capital into altcoins for the time being. “I think there’s going to be a better opportunity anytime soon to step into altcoins again here,” he remarked. For now, BTC appears to be the best bet as both a store of value and potential short-term play.
With top traders like Crypto Rover anticipating new all-time highs, Bitcoin’s next leg up could turn into a prolonged bull run. As adoption accelerates, investors would be wise to take a “hodl” mentality like the whales. Rover’s analysis suggests that patience will be rewarded for those accumulating BTC at current prices.
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