While BTC Price is currently trading at a new high in over 18 months, popular Bitcoin Maximalist Max Keiser believes there is more to come in this rally. The possibility of a spot Bitcoin ETF approval in near future and the Bitcoin Halving event which is likely to happen in the second quarter of 2024 trigger speculation of a bull run for the top cryptocurrency over the next six months.
Also Read: US SEC Delays Grayscale Ethereum Trust ETF Decision to Jan 25
Max Keiser Predicts $100K In Current Cycle
Keiser, who is acting as the senior Bitcoin advisor to El Salvador President Nayib Bukele, a ‘God Candle’ towards BTC Price rise by $100,000 is currently at play. He said the playout of the God Candle will shock the world. In crypto, a God Candle is often referred to as a candlestick pattern that follows an unexpected price rise, like gaining a 100% rise in a space of just few weeks.
“A $100,000 God Candle is in play. A $100,000 uptick in Bitcoin price. This will literally shock the world.”
Previously, Keiser made a prediction for the cryptocurrency based in hash rate adjustments. In 2021, he predicted that BTC would reach $220,000 by the end of the year. On the other side, crypto analyst Dan Lim said that BTC has reached the “strong bull zone,” an area reached in the initial stage of the 2020-21 bull run. This means that new sources of capital would begin to enter the crypto market in current zone thanks to new investors taking positions.
The strong bull zone also means the share of BTC trading in losses is very low and will continue to be the same in a widespread rally.
What Next For BTC
Earlier, CoinGape reported in its Bitcoin Price Prediction that the price could reach as high as $48,257 if the support had sustained. Positive developments around the spot Bitcoin ETF applications could act as catalysts for further resistance breach. Following the amendment of ETF filings by Blackrock, other applicants could also make changes in the days to come.
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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