{"id":472621,"date":"2024-01-16T18:23:56","date_gmt":"2024-01-16T18:23:56","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=472621"},"modified":"2024-01-16T18:23:56","modified_gmt":"2024-01-16T18:23:56","slug":"bitcoin-price-prediction-anthony-scarammuci-sees-btc-hitting-170k-in-2025-as-experts-say-this-bitcoin-derivative-might-be-the-best-presale-to-buy-now","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-anthony-scarammuci-sees-btc-hitting-170k-in-2025-as-experts-say-this-bitcoin-derivative-might-be-the-best-presale-to-buy-now","title":{"rendered":"Bitcoin Price Prediction: Anthony Scarammuci Sees BTC Hitting $170K In 2025 As Experts Say This Bitcoin Derivative Might Be The Best Presale To Buy Now"},"content":{"rendered":"

The Bitcoin price <\/span>dropped<\/span><\/a> slightly over the past 24 hours to trade at $42,944.91 as of 8:30 am EST as the market settled down following the excitement around the launch of spot Bitcoin ETFs (exchange-traded funds) last week.<\/span><\/p>\n

The Bitcoin Price Predicted To Reach $170,000 in 2025<\/span><\/h2>\n

The founder of the SkyBridge hedge fund, Anthony Scaramucci, said in an interview on Monday that <\/span>Bitcoin<\/span><\/a> could reach $170,000 in 2025. His prediction is based on the anticipated demand for newly listed spot Bitcoin ETFs and the upcoming halving event this year.<\/span><\/p>\n

“If bitcoin’s at $45,000 on the halving, where it roughly is right now, it’ll be $170,000 by mid- to late 2025,” said Scaramucci.<\/span><\/p>\n

The Bitcoin Price Enters A Bullish Cycle<\/span><\/h2>\n

\"TradingView<\/p>\n

4-hour chart for BTC\/USDT (Source: <\/span>TradingView<\/span><\/a>)<\/span><\/p>\n

The <\/span>Bitcoin<\/span><\/a> price has entered into a bullish channel over the past 24 hours. During this period, the leading cryptocurrency printed a series of higher highs and higher lows. As a result, BTC may attempt a challenge at the upper boundary of the Bollinger Bands (BBANDS) indicator soon. <\/span><\/p>\n

A break above this threshold, which lies around $43,348.02, could lead to the Bitcoin price attempting a challenge at the $44,440 resistance level in the coming 24 hours. Should the crypto then close two consecutive 4-hour candles above this mark, it may have the foundation needed to rise to the subsequent barrier at $46,700 in the short term.<\/span><\/p>\n

This bullish thesis could be invalidated if the bitcoin price breaks below the positive trend line that has formed on its 4-hour chart. It may also not play out if <\/span>BTC<\/span><\/a> is rejected by the upper boundary of the BBANDS indicator within the next 12 hours. Both of these situations could lead to the Bitcoin price correcting down to the immediate support level at $42,450 in the next couple of days. Continued sell pressure may then drag the market leader down to $40,160 through the course of the coming week if bulls do not step in to protect the Bitcoin price.<\/span><\/p>\n

Sellers Are Trying Their Best To Tame BTC<\/span><\/h3>\n

There is sell pressure present on BTC’s charts, which is evident by the wick above the current 4-hour candle. This is a sign that sellers are trying to push the Bitcoin price down. Despite this, the Relative Strength Index (RSI) indicator on BTC’s 4-hour chart signals that buyers still have an advantage over sellers. The RSI is positioned above its Simple Moving Average (SMA), which shows that buyers are stronger than sellers. In addition to this, the RSI is positively sloped, suggesting that buyers are still growing stronger.<\/span><\/p>\n

While the Bitcoin price attempts to continue its bullish move, investors may want to take a look at <\/span>Bitcoin Minetrix<\/span><\/a> to prepare for the upcoming halving and an uptick in institutional investment driven by spot Bitcoin ETFs.<\/span><\/p>\n

Simplifying BTC Cloud Mining For Everyone<\/span><\/h2>\n