Bitcoin Price Prediction: VanEck Sees BTC Hitting New ATH Next Year, But This Bitcoin ETF Token Might 10X Next Month

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The Bitcoin value is down 2% within the final 24 hours to commerce for $41,178 as of 11:30 p.m. EST time, however buying and selling quantity is up 35%.

Buyers are popping out of the weekend prepared for motion. The bears are prevalent with the Shifting Common Convergence Divergence (MACD) giving a promote sign. Expectations of a pullback proceed to brew, with merchants anticipating a revisit of the $36,000 to $37,000 vary.

I believe yet one more run up in the direction of 44 ok earlier than the nuke.

I nonetheless anticipate 36/37 ok to get hit.

Invalidation above 46 ok#btc

Oh and that i overlook to sayQ1 2024 = $55 000 #btc 📸

— WIZZ ( beware scammers ) (@CryptoWizardd) December 17, 2023

One dealer has noticed that the Bitcoin value fully reset the day by day Relative Power Index (RSI). It places the momentum indicator at its lowest stage in two months. The final time the BTC RSI was this low is when Bitcoin value was $27,300.

#BTC has now fully reset the Each day RSI which was what was mentioned as a possible situation

Each day RSI now at lowest stage in 2 months and at ranges when the BTC value was $27.3k, nonetheless now $41k: https://t.co/2Qyu6YyJfi pic.twitter.com/X8YQVI20yM

— Matthew Hyland (@MatthewHyland_) December 18, 2023

With the RSI recording decrease lows whereas Bitcoin value data increased highs, this outlook precipitates a bearish divergence.

TradingView: BTC/USDT 1-day chart

The a number of promote alerts have one analyst weighing a 50% drop beneath present ranges. This might imply Bitcoin value revisits the $20,500 stage.

The #BTC value might simply drop 50% from right here.

I do not assume it is probably, however no person is aware of for certain.

Would not change my ideas although:#Bitcoin can be price much more in 10 years than it is price at the moment.

— Rajat Soni, CFA (@rajatsonifnance) December 18, 2023

For now, nonetheless, the bulls stay in management as each the MACD and the Superior Oscillator (AO) stay within the optimistic territory. The place of the RSI above the 50 midline can be an excellent signal, pointing to sturdy value energy.

⚡#BTC the primary pink pack of pink from early October.Regardless of the closure of 8 consecutive weeks, the entire CT turns to a descending pink candle.The cows are nonetheless in full management. pic.twitter.com/qyTvEnuhVd

— Buying and selling Training (@tradingedu_co) December 18, 2023

Jan Van Eck Anticipates New All-time Highs For Bitcoin Value In 2024

The bullish outlook has VanEck CEO Jan van Eck anticipating a brand new all-time highs for BTC. His forecast follows the latest Federal Open Market Committee (FOMC) assembly, with the minutes pointing to rate of interest cuts in 2024.

Fed Chair Powell: “Immediately we determined to go away our coverage rate of interest unchanged and to proceed to cut back our securities holdings. Given how far we now have come, together with the uncertainties and dangers that we face, the Committee is continuing rigorously.” #FOMC pic.twitter.com/ZiOCKcrT9b

— CSPAN (@cspan) December 13, 2023

“The macro behind Bitcoin and gold are very sturdy,” he advised CNBC Tv in an interview, including the 2 property “sort of do carry out equally,” peaking in 2021 and rallying throughout 2023.

Acknowledging that Bitcoin value stands 170% north year-to-date, the VanEck government expects extra beneficial properties incoming. He predicts new all-time highs in 2024 steered by the likes of occasions such because the BTC halving. The occasion is slated for April 2024 the place miner rewards can be slashed by 50%.

Bitcoin Value Prognosis

As is the case for the weekly timeframe, Bitcoin value is confronting a provide barrier even within the three-day timeframe, starting from $44,074 to $47,488. With the bulls nonetheless main the market, BTC market worth might overcome this order block, flipping it right into a bullish breaker above the $48,000 psychological stage.

To verify the uptrend, Bitcoin value should file a three-day candlestick shut above the imply threshold (midline) of the order block at $45,843.

A transfer above the $48,000 psychological stage would set the tone for Bitcoin value to focus on the $50,000 psychological stage subsequent, or increased, testing the $60,000 mark. In extremely bullish instances, BTC value might lengthen a neck increased to check the $69,000 vary excessive. Such a transfer would represent a 67% climb above present ranges, doubtlessly setting the tone for an prolonged transfer north.

The RSI stays above the 50 stage, whereas the AO and the MACD stay throughout the optimistic territory. This reveals the bulls proceed to guide the market, accentuating the bullish thesis.

Bitcoin price — TradingView: BTC/USDT 3-day chart

Converse Case

On the flip facet, a rejection from the three-day provide barrier might ship Bitcoin value south, inflicting a flip of the $37,800 assist to resistance. An prolonged suppression might see the king of crypto drop decrease previous the 50-day Easy Shifting Common (SMA) at $31,684 to check the $30,000 psychological stage. A break and shut beneath this stage would invalidate the bullish thesis.

Within the dire case the place the aforementioned stage fails to carry as assist, Bitcoin value check the 100- and 200-day SMA at $29,648 and $25,625 ranges respectively.

In the meantime, with the BTC group wanting ahead to the halving occasion and the euphoria across the anticipated spot Bitcoin exchange-traded funds (ETFs), a brand new Bitcoin by-product, BTCETF, is out there, trending as analysts anticipate 10X development potential.

Promising Various To Bitcoin

BTCETF is the native asset for the Bitcoin ETF Token ecosystem, a venture that rewards token holders as spot BTC ETF merchandise are permitted. Buyers trying to get forward of this milestone should purchase Bitcoin ETF Token on the lowest doable value to make sure they’re hodlers earlier than the primary Bitcoin ETFs are permitted.

#BitcoinETF represents a #Crypto token carefully linked to $BTC and the approaching #SEC approvals for the anticipated #ETFs.

Be a part of our information channel for the newest updates. 🗞️

Observe alongside, activate alerts, and keep knowledgeable about monumental #Bitcoin occurrences! 🚀 pic.twitter.com/HqNWM7AH5l

— BTCETF_Token (@BTCETF_Token) December 16, 2023

The venture marks the anticipation of the Bitcoin ETF launching within the US market. It represents a crypto token carefully linked to BTC and the approaching SEC approvals for the anticipated ETFs.

What is the position of the $BTCETF #Token? 🤔

This ERC-20 token marks the anticipation of #Bitcoin ETFs getting into the American monetary panorama. 🚀 pic.twitter.com/RAhD5uuqi9

— BTCETF_Token (@BTCETF_Token) December 16, 2023

Bitcoin ETF Token venture is within the presale stage, with gross sales now reaching $4.669 million out of a goal of $5.059 million. The token is promoting for simply $0.0068 within the present stage, giving traders an opportunity to purchase BTCETF at low charges earlier than probably exponential development at itemizing.

#SEC units new “Money Redemption Mannequin” for #Bitcoin Spot #ETF candidates, impacting approval standards.@InvescoEMEA adopts it initially while @BlackRock introduces “Prepay” for simpler Wall Road participation.

How would possibly these fashions reshape ETF accessibility?#BitcoinETF has… pic.twitter.com/NN4nnfEJ2M

— BTCETF_Token (@BTCETF_Token) December 14, 2023

Go to Bitcoin ETF Token web site to purchase BTCETF within the presale right here.