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The Bitcoin price has seen a 0.2% drop in the last 24 hours to trade at $37,730 as of 8:49 p.m. EST
Despite the slight drop, investors are still bullish about its chances of surpassing its previous high of almost $69,000.
Macro expert and fund manager Dan Tapiero expresses optimism about the possibility of BTC reaching a six-figure price. During a recent interview with Natalie Brunell, Tapiero predicted that Bitcoin would surpass $100,000 in the upcoming bull run.
That would be a 165% surge from the current price level, and Tapiero says the $100,000 target is a relatively cautious estimate, indicating the potential for BTC to experience even more significant gains over the next five years.
“When I delved into this extensively in 2019, my envisioned goal for Bitcoin was consistently in the range of $250,000 to $350,000,” he said. “That figure was a reasonable target to achieve by the decade’s end. So back in 2019, that was my outlook for reaching a plausible milestone by 2029.”
Bitcoin Price: Bulls Target March 2024 High Of $48,200
Bitcoin price shows a rebound off the 50-day Simple Moving Average, coinciding with the $25,900 breaking above the short consolidation phase, forming an ascending channel pattern.
Bitcoin is currently trading above both the 50 day and 200 day simple moving averages, reinforcing a positive outlook and providing short-term support.
Although there was a minor decrease in the Relative Strength Index (RSI), it remains generally bullish at 62, rebounding from the neutral level of 50. This indicates an increase in buying pressure compared to previous levels.
Bullish Signals for Bitcoin Price Target Of $48,000
Confirmation of this bullish pattern holds the potential for Bitcoin to challenge and convert the $38,150 resistance into support. A sustained breach above $38,150 level, could provide the necessary momentum for the bulls to reach the March 2022 high of $48,200 in the upcoming weeks.
Conversely, a breach below level and the rising channel pattern may signal a pullback, potentially retracing to the 50 SMA line at approximately $32,500. Further selling pressure might lead to a correction towards the critical support level at $28,500.
The recent breakout in Bitcoin’s price is attributed to heightened anticipation surrounding the potential approval of the first spot Bitcoin ETF. Investors seeking to capitalize on this sentiment may want to explore the Bitcoin ETF Token, which is primed to explode on the approval of spot Bitcoin ETFs.
BTCETF Presale: Price to Rise in 48 Hours
The BTCETF Token Presale has already reached $1.7 million, coinciding with the heightened excitement in the cryptocurrency sector, especially with the anticipation of the approval of spot Bitcoin ETFs.
🌐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
Secure your tokens promptly at the current price of $0.0058, which is set to rise in less than 48 hours. This strategic move will position you favorably for potential profits as the token’s value appreciates.
There is an increased demand for BTCETF tokens as the project nears its $2.1 million target, as FOMO prompts more investors to rush to buy.
🚀 Embracing the future of #Crypto with #BTCETF!
As an ERC-20 token on #Ethereum, #BitcoinETF anticipates the imminent #Bitcoin ETFs.
Positioned to leverage their approval, this visionary project offers a gateway to the evolving crypto world. 💡 pic.twitter.com/eiMUbIfXeD
— BTCETF_Token (@BTCETF_Token) November 23, 2023
BTCETF’s allure lies in its functionality as an ERC-20 token, allowing investors to speculate on market shifts post the approval of a spot Bitcoin ETF.
To capitalize on this, consider entering early to position yourself advantageously and garner profitable returns as the project advances.
BTCETF Endorsement, Stake, Earn Passive Income
BTCETF presents an appealing staking option with an annual yield of 146%. The considerable interest from the community and presale investors is evident, with 178 million tokens already staked out of the total allocation of 525 million.
Rewards are distributed at 119 tokens per Ethereum (ETH) block, serving as an extra incentive for investors.
Renowned YouTuber and crypto analyst Jacob Bury shows his confidence in the BTCETF token, suggesting in a video that it can potentially experience a 10X increase.
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 your bank card for a direct purchase.
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