Analysts Predict Bitcoin Price Surge of 22%: Could Reach $100,000 in Just 3 Months
Bitcoin is experiencing a remarkable surge in price, reaching levels not seen since late 2021. In the past 24 hours alone, the leading cryptocurrency has surged by an impressive 4%, contributing to a significant gain of 22% in the last seven days.
Renowned crypto investor and analyst, Marc van der Chijs, has made a bold prediction amidst this bullish trend. He believes that Bitcoin is on track to reach the $100,000 milestone within the next three months.
Van der Chijs has provided interesting insights into the post-ETF Bitcoin charts. He reveals that the increasing number of people investing in Bitcoin through Exchange-Traded Funds (ETFs) is causing a daily increase of 2% in its price. To put it simply, this means that $1000 is being added to its value each day.
The current inflows from ETFs surpass the newly created BTC by 10-12 times. Van der Chijs points out that individuals are strategically selling their BTC at higher prices to fulfill ETF orders. This not only drives prices higher but also triggers FOMO (Fear of Missing Out) among ETF investors.
Recognizing a market inefficiency, Van der Chijs sees an opportunity for traders during the settlement period before the US market opens. He believes that this period presents a chance to capitalize on the surge in prices.
Van der Chijs identifies two crucial factors that could contribute to a significant surge in Bitcoin’s value. Firstly, the upcoming halving of BTC mining rewards in mid-April will reduce the daily production of new coins from 900 to 450, intensifying the supply shock. Secondly, financial advisors will gain the ability to sell a new ETF after 90 days of trading by early May, potentially leading to more people wanting to buy Bitcoin.
Despite acknowledging the market’s uncharted territory, Van der Chijs believes that Bitcoin might go up by $1000 every day in the coming weeks. He anticipates that this surge could intensify with the upcoming Bitcoin halving and the introduction of a new ETF. As a result, he predicts the possibility of a new all-time high, potentially surpassing $69,000 before the halving. There’s even a chance that Bitcoin could hit $100,000 in the next 2-3 months unless something unexpected happens.
Marc van der Chijs’ straightforward analysis provides a clearer outlook for Bitcoin’s future, capturing the attention of both new and seasoned investors.