Crypto Analyst Predicts Bitcoin Price to Surge 10-12x During Current Cryptocurrency Bull Run
Bitcoin is experiencing an extraordinary year, reaching price levels not seen since late 2021. In the past 24 hours alone, the leading cryptocurrency has surged by an additional 4%, contributing to an impressive gain of 22% in the last seven days.
In the midst of this bullish trend, renowned analyst Marc van der Chijs has made a bold prediction, stating that Bitcoin is on track to reach the $100,000 milestone within the next three months.
Van der Chijs recently shared intriguing insights into the post-ETF Bitcoin charts, unveiling compelling price predictions for the next three months. He analyzed the charts and came up with rough price estimates. Currently, the inflows from Exchange-Traded Funds (ETFs) are causing a 2% increase in Bitcoin’s price per day, equivalent to about $1000 per day. This increase is mainly occurring during the settlement period preceding the US market opening.
Van der Chijs pointed out that the influx of investments through ETFs exceeds the newly created BTC by 10-12 times. Individuals strategically sell their BTC at higher prices to fulfill ETF orders, driving prices higher and creating FOMO (Fear of Missing Out) among ETF investors. Recognizing this market inefficiency, Van der Chijs identifies a potential opportunity for traders to take advantage of this trend.
Van der Chijs also highlights two upcoming events that could significantly impact Bitcoin’s value. First, 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. Second, financial advisors will gain the ability to sell a new ETF after 90 days of trading by early May, potentially attracting more buyers.
Taking these factors into account, Van der Chijs predicts that Bitcoin could see a daily increase of $1000 in the coming weeks. He believes that this surge could lead to a new all-time high, potentially surpassing $69,000 before the halving. He even suggests that Bitcoin has a chance of reaching $100,000 in the next 2-3 months, unless any unexpected events occur.
Marc van der Chijs’ straightforward analysis offers a clearer outlook for Bitcoin’s future, attracting the attention of both new and experienced investors.