{"id":465542,"date":"2023-12-14T14:39:11","date_gmt":"2023-12-14T14:39:11","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=465542"},"modified":"2023-12-14T14:39:11","modified_gmt":"2023-12-14T14:39:11","slug":"bitcoin-price-prediction-bitwise-says-btc-to-hit-80k-next-year-for-new-ath-as-this-bitcoin-etf-themed-coin-closes-on-4-million","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-bitwise-says-btc-to-hit-80k-next-year-for-new-ath-as-this-bitcoin-etf-themed-coin-closes-on-4-million","title":{"rendered":"Bitcoin Price Prediction: Bitwise Says BTC To Hit $80K Next Year For New ATH As This Bitcoin ETF-Themed Coin Closes On $4 Million"},"content":{"rendered":"

Bitcoin’s price surged by 4% in the last 24 hours to trade at $42,835<\/a> as of 5:20 a.m. EST as volume rose 5.5% to $24.9 billion.<\/p>\n

The rise comes as Bitwise predicts the king of cryptocurrencies will hit a new all-time high of $80,000 next year, driven by the launch of BTC ETFs and the halving.<\/p>\n

Bitcoin Price Prognosis<\/h2>\n

Despite a price drop in the past week, Bitcoin is still up 18% up over a month and is 141% higher compared with a year earlier.<\/p>\n

\"Bitcoin<\/p>\n

As for the coin’s short-term performance, its price seems hesitant to go on another rally following its rejection after reaching the $44k resistance.<\/p>\n

So far, the coin has recovered to just under $43k, but it seems to lack the motivation to overcome this level.<\/p>\n

Even so, its long-term performance is still bullish, and it was confirmed after the coin managed to preserve the $41k support level.<\/p>\n

As long as Bitcoin stays above the support at $41k, the possibility of returning to $44k and potentially surpassing it will also remain.<\/p>\n

On the other hand, it is also possible that the coin will soon retest the support again, as some technical indicators show that its price is struggling to grow.<\/p>\n

Specifically, the coin’s RSI score shows that it is overbought territory, while the Bollinger bands are more narrow than any point in the last four days.<\/p>\n

Both are bearish signals, which suggest that BTC is likely to be rejected by the resistance level between $43k and $44k and possibly retest the support at $41,000.<\/p>\n

Bitcoin Price: Promising Alternative to BTC<\/h2>\n

For investors looking to diversify or in search of higher short-term gains, a presale with much potential right now is Bitcoin ETF Token (BTCETF)<\/a>.<\/p>\n

The project is designed to capitalize on spot Bitcoin ETF approvals. It has established a series of milestones, each of which will provide rewards for BTCETF holders.<\/p>\n

The token is closing in on $4 million raised in presale and is selling for $0.0068.<\/p>\n

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@conio<\/a> teams up with @coinbase<\/a> to expand digital asset offerings for Italian banks, with plans to support up to 50 #Tokens<\/a> by 2023.<\/p>\n

Europe's embracing #Crypto<\/a> with initiatives like Markets in crypto assets regulation. 🌍<\/p>\n

What digital assets do you think will gain traction next… pic.twitter.com\/DPg0m5yJQB<\/a><\/p>\n

— BTCETF_Token (@BTCETF_Token) December 11, 2023<\/a><\/p><\/blockquote>\n