Bitcoin Price Prediction: With BTC Exploding To 20-Month High, Could This ETF-Linked Presale Coin Make You A Millionaire?

ByLockridge Okoth

Updated: 05 December 2023

Disclosure

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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Bitcoin price is up 3% in the last 24 hours to trade for $41,725 as of 12:10 AM EST, alongside an 81% surge in trading volume.

The rise, which took BTC to a 20-month high, is being driven by the anticipated approval of spot Bitcoin exchange-traded funds (ETFs), the halving event due in April, and the fact that the fourth quarter has historically proven to be a good month for Bitcoin.

Bloomberg Forecasts Fresh Crypto Super Cycle Pushing Bitcoin To $500,000

According to Bloomberg, the ongoing market rally has kick-started a fresh crypto super cycle that could catapult the Bitcoin price past the $500,000 mark. It said Bitcoin enthusiasts say the development “is the new money order taking Wall Street by storm.”

Bitcoin Price Outlook As BTC Holders Chase FOMO

BTC is already massively overbought, evidenced by the position of the Relative Strength Index (RSI) at 84. However, the fact that it remains northbound shows momentum is still rising.

With a market range from $16,091 to $69,429, Bitcoin faces resistance at the 50% Fibonacci retracement at $42,760. Momentum is rising, as hinted by the RSI, with a strong presence of the bulls in the BTC market, shown by the green histogram bars of the Awesome Oscillator (AO) in the positive territory.

Further north, the price could extend to the most important Fibonacci level, 61.8%, at $49,054 or, in a highly bullish case, a foray into the $50,000 range by tagging the 78.6% Fibonacci level at $58,014.

Bitcoin Price: Converse Case

On the other hand, early profit booking could see Bitcoin price rejected at $42,760, potentially retracing the 38.2% Fibonacci at $36,466.

In the worst case, a retracement could see Bitcoin price slip past the $30,000 psychological level as it extends to the 23.6% Fibonacci level at $28,679.

Meanwhile, BTCETF is a project designed to capitalise on spot Bitcoin ETFs by rewarding them as the products are approved. It features among the best cryptos to buy now with its presale accomplishing key milestones.

Bitcoin Price: Alternative To Consider

Ahead of the spot Bitcoin ETF approval, BTCETF takes the spotlight as a good alternative, riding the rally in the Bitcoin market ahead of January 5 to 10 when experts say the US Securities and Exchange Commission (SEC) will finally give approvals. The token powers the Bitcoin ETF Token project, whose roadmap is linked to real-life Bitcoin events.

Mapping out the #BitcoinETF journey 🚀

The path of the $BTCETF #Token aligns with significant #Bitcoin occurrences.

With each milestone achieved in the #Bitcoin #ETF realm, #BTCETF tokens are burned, while staking rewards experience an uptick. 📊 pic.twitter.com/WlWUbz1Xj0

— BTCETF_Token (@BTCETF_Token) December 4, 2023

BlackRock has dialed up the anticipation with its filing, considering its heft in the market and its record of 575 wins to a single loss for applications.

🌐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

Bitcoin ETF Token project presale is in the seventh stage and is due to end in just about 22 hours. In the current stage, each BTCETF token sells for $0.0062, a price tag bound to increase once the next stage begins.

So far, presale sales have reached $2.55 million out of a $2.876 million target objective.

#Bitcoin soared to $41,448, boosted by #ETF hopes and a $70 million liquidation from short traders.

With #SEC meetings boosting optimism, $BTC now ranks among the top 10 global assets by market cap, trailing just behind #Meta.

Which #Altcoin gains caught your eye the most… pic.twitter.com/Iz8bpAI1vQ

— BTCETF_Token (@BTCETF_Token) December 4, 2023

To increase the value potential of the BTCETF token, the project has a 5% burn tax running for every transaction. This helps reduce the token supply as time progresses, effectively increasing demand. The goal is to burn 25% of the tokens with every specific milestone.

#BitcoinETF incorporates a 5% burn tax on every transaction, leading to a gradual reduction in the #Token supply as time progresses.

The plan is to burn 25% of the tokens as specific milestones are achieved aiming to alleviate selling pressure. 🚀 pic.twitter.com/odZwrPDn0D

— BTCETF_Token (@BTCETF_Token) November 27, 2023

Visit the Bitcoin ETF Token website to buy BTCETF in the presale here.