Bitcoin Price Prediction: Analyst Says BTC Poised To Surge To $60K As Investors Rush To Buy This Bitcoin ETF Play For 20X Potential Before Time Runs Out

ByEvans Karanja

Updated: 27 November 2023

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Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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The Bitcoin price has experienced a 1.5% drop in the last 24 hours, trading at $37,089 as of 10:35 a.m. EST.

Despite this drop, pseudonymous analyst Credible Crypto, with over 353,900 followers on the social media platform X (Twitter), says Bitcoin could be on the verge of a significant upward surge and sees surging to $60,000.

About to make it 3/3. $BTC https://t.co/vJAoxUmeOF pic.twitter.com/Y58mvGzj15

— CrediBULL Crypto (@CredibleCrypto) November 26, 2023

Credible Crypto posted a chart indicating that BTC seems to replicate a pattern observed a few years ago, during which Bitcoin surged from approximately $13,000 to $60,000 in months. This pattern was also evident in 2019 when Bitcoin experienced a rally from $4,000 to $14,000. And it’s evident again now, he said.

Bitcoin Price Rides the Ascending Triangle

The BTC price has experienced a resurgence, bouncing back from the 50-day Simple Moving Average. This aligns with a breakthrough above $25,900 after a brief consolidation phase, forming an ascending channel pattern.

Bitcoin price trades above the 50-day and 200-day simple moving averages, reinforcing a positive outlook and establishing short-term support.

Despite a slight dip in the Relative Strength Index (RSI), which now stands at 56, it is trading downwards, indicating intense selling pressure. However, if the neutral level of 50 remains strong, buyers might engage this as a signal to enter more positions, causing an uptick in price.

Bitcoin Price: Bulls Need To Overcome $38,000 Resistance

Bitcoin can surpass the $38,000 resistance, transforming it into a support zone. A sustained breakthrough above $38,000 has the potential to provide the momentum needed for bullish movements, aiming for a high of $48,200 in the weeks ahead, a high achieved in March 2022.

On the flip side, bears are capitalizing on the $38,0000 resistance as they drive down the price, possibly retracing to around $34,900, slightly below the ascending channel aligning with the 50-day Simple Moving Average (SMA) line.

Continued selling pressure could lead to further price decline with a potential downward move towards the critical support level at $28,500.

Despite Bitcoin’s strength, many investors see better upside potential in a presale that’s tied to the likely approval of spot Bitcoin ETFs that is called Bitcoin ETF Token.

BTCETF Presale Approaches $2.1 Million Goal, 19 Hours to Price Hike

There is an increased demand for BTCETF tokens as the project nears its $2.1 million target, increasing their value and offering an attractive return opportunity.

The presale for BTCETF Token has surpassed the $1.8 million milestone, with investors eagerly awaiting the potential approval of spot Bitcoin ETFs.

As an investor, you can grab this opportunity to swiftly acquire your tokens at the current price of $0.0058, which will increase in just 15 hours.

🌐Leading multinationals like @BlackRock reinforce the imminent arrival of #Bitcoin ETFs, setting the stage for regulatory approvals.

Once approved, these #ETFs might pour billions into the #Crypto world.

What do you think will happen when the first #BitcoinETF is approved?🌎 pic.twitter.com/vUZ4RGtd5w

— BTCETF_Token (@BTCETF_Token) November 25, 2023

Being an ERC-20 token, BTCETF enables investors to speculate on market movements, especially with the anticipation of approval of a spot Bitcoin ETF.

#BitcoinETF Stage 5 is wrapping up in just 1 day!

Stay alert! 🌟 pic.twitter.com/6eRzXfrSs7

— BTCETF_Token (@BTCETF_Token) November 27, 2023

Stake, Earn High APY

Take advantage of the BTCETF staking opportunity that offers an annual yield of 138%. Approximately 188 million tokens have been staked out of the total allocation of 525 million. Rewards are distributed at 119 tokens per Ethereum (ETH) block, providing an additional incentive for investors.

Jacob Bury, a YouTuber with over 24k subscribers, explains how you can buy and benefit from its staking feature. He has also bought into the presale and forecasts a 20X gain for investors who buy in early.

To participate, head to the Bitcoin ETF token website, link your Web3 wallet, and swap your ETH, BNB, or Matic tokens for BTCETF. Alternatively, the website facilitates transactions using a bank card for a direct purchase.