The upcoming Bitcoin halving, potential ETF approvals, are getting crypto analysts back into action for new highs.
Dave The Wave says Bitcoin price will ATH within two years at the latest
Foretelling the May 2021 market crash, the crypto analyst described a bull run stretching into 2025 in his latest forecasts. According to Dave The Wave, Bitcoin will recapture its local highs next year. The analyst predicts that the gradual rise will lead to a boom in 2025. In their analysis, their long-term prospects are understood as:
Although I think the Bitcoin halving cycle will play an increasingly insignificant role as the market matures, it can again act as an incentive in the meantime. The price had previously exploded upwards when the monthly peak close reached the lower band of LGC (logarithmic growth curve).
This indicates that the price will strengthen to its previous highs in 2024 with the breakout in 2025.
https://twitter.com/davthewave/status/169885663238619300
Like-minded Lark Davis points to ETF news
cryptocoin.com The first ETF applications, which fueled the crypto market in June, had a direct impact on the price rally. Santiment analysts also confirm that ETF news is effective in attracting funds. At that time, while the Bitcoin and altcoin market was on the rise, the most popular searches on social media were:
Another analyst, Lark Davis, says that one of the main triggers for the next Bitcoin rally will be approved ETF applications. In his latest posts, the analyst argued that this rally could rise by over 350%. According to Davis:
Estimates are that a spot Bitcoin ETF will bring 20-30 billion fresh cash to Bitcoin. This means buying about half of all cryptocurrencies on exchanges at current prices.
Estimates are that a spot Bitcoin ETF would bring 20-30 billion of fresh cash into Bitcoin. That would buy about half of all coins on exchanges at current prices.
For reference here is what happened to gold when it got its first ETF approved on US markets.
History repeating? pic.twitter.com/CBNvZgMq18
— Lark Davis (@TheCryptoLark) September 4, 2023
Last week, the SEC delayed its decision on top spot Bitcoin ETF filings. cryptocoin.comAs we have reported, the next critical decision date will fall in mid-October.
Greenlighted on Jim Cramer, but…
A prominent financial figure, CNBC host Jim Cramer has earned the nickname ‘reverse indicator’ among the crypto community in recent years due to his inaccurate forecasts. Everything Cramer says turns out to be the opposite. It was instrumental in the Litecoin price rally last year. In his most recent statements, he unusually praised Binance and BNB. What Cramer said raises expectations among investors to the contrary:
Binance still hasn’t been able to verify their cryptocurrency reserves, they just verified their collateral. However, CZ (Changpeng Zhao) seems like a reliable figure. I believe in a bullish outlook on Binance and BNB (Binance Coin) at the moment. When I look at BNB, I see that it has been oversold.
