{"id":565527,"date":"2023-12-15T11:00:34","date_gmt":"2023-12-15T11:00:34","guid":{"rendered":"https:\/\/ktsl888.com\/?p=565527"},"modified":"2024-06-11T07:42:49","modified_gmt":"2024-06-11T07:42:49","slug":"bitcoin-2023-bull-run-new-target","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-2023-bull-run-new-target\/","title":{"rendered":"Crypto Analyst Who Predicted Bitcoin 2023 Bull Run Releases New Target"},"content":{"rendered":"<p><span style=\"font-weight: 400\">A crypto analyst who correctly predicted that Bitcoin would hit the <\/span><a href=\"https:\/\/bitcoinist.com\/dogecoin-founder-bitcoin-rally\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">heights it is currently enjoying<\/span><\/a><span style=\"font-weight: 400\"> has once again given projections as to <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-boom-ahead-analyst-predicts-btc-will-soar-past-80000\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Bitcoin\u2019s future trajectory<\/span><\/a><span style=\"font-weight: 400\">. As part of his predictions, he highlighted the best and worst-case scenarios for the flagship cryptocurrency going forward.\u00a0<\/span><\/p>\n<h2>Bitcoin Could Ride To $60,000<\/h2>\n<p><span style=\"font-weight: 400\">In a <\/span><a href=\"https:\/\/www.youtube.com\/watch?v=xqb6QYaLZCk\" rel=\"nofollow\"><span style=\"font-weight: 400\">live stream<\/span><\/a><span style=\"font-weight: 400\"> on his TechnicalRoundup YouTube channel, crypto analyst DonAlt noted that Bitcoin could rise to the resistance level of $60,000 based on historical patterns. The analyst had highlighted a bullish setup on the quarter timeframe, which had occurred both in 2018 and 2021. He also mentioned that the current quarterly is strikingly similar to those periods.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-eth-has-left-circulation\/\">Ethereum Supply Turns Deflationary Post-Merge, Here\u2019s How Much ETH Has Left Circulation<\/a><\/div>\n<p><span style=\"font-weight: 400\">The analyst believes that the road to $60,000 would be fuelled by the <\/span><a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-spot-etfs-ath\/#:~:text=There%20is%20reason%20to%20believe,the%20first%20year%20of%20launch.\"><span style=\"font-weight: 400\">Spot Bitcoin ETF<\/span><\/a><span style=\"font-weight: 400\"> rumors (as has been the case so far) before an approval possibly comes in January. However, it is not all good news from the $60,000 price level, as DonAlt believes that the approval will be a <\/span><a href=\"https:\/\/bitcoinist.com\/spot-bitcoin-etf-approval-sell-the-news-event\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">\u2018sell-the-news\u2019 event<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><span style=\"font-weight: 400\">If that were to be the case, he predicts that <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-price-35000-decoding-5-major-reasons\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Bitcoin will drop to $35,000<\/span><\/a><span style=\"font-weight: 400\"> before it trends upward afterward. He also provided a bearish side to the quarterly timeframe setup as he suggested that this is more likely to happen as it is more \u201caccurate.\u201d\u00a0 For the bearish setup, he projects a close below the resistance level of $35,000.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">He stated that this would suggest a bearish restest and that investors could expect lower prices as a result of this.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/wOLpm7B9\/\" alt=\"Bitcoin price chart from Tradingview.com\" width=\"3266\" height=\"1530\"><\/p>\n<pre style=\"text-align: center\">BTC price looks to retest $43,000 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">BTCUSD On Tradingview.com<\/a><\/pre>\n<h2>Why An ETF Approval Will Be A \u2018Sell-The-News\u2019 Event<\/h2>\n<p><span style=\"font-weight: 400\">DonAlt further elaborated on his stance of a possible Spot Bitcoin ETF <\/span><a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bloomberg-spot-bitcoin-etf\/#:~:text=Bloomberg%20Analyst%20Predicts%20Likelihood%20Of%20A%20Spot%20Bitcoin%20ETF%20By%20January%202024,-by%20Scott%20Matherson&amp;text=Following%20notable%20changes%20to%20the,as%20early%20as%20next%20year\"><span style=\"font-weight: 400\">approval in January <\/span><\/a><span style=\"font-weight: 400\">being a \u2018sell-the-news\u2019 event. He explained that the reason for this belief is because Bitcoin has ridden high (up about 3x from the bottom) on the back of these rumors. As such, this would naturally suggest that it is already priced in.<\/span><\/p>\n<p><span style=\"font-weight: 400\">He further noted that he would have had a different opinion if Bitcoin had, for example, traded at around $25,000 and then an approval came. He believes that would have been an easy trade as the flagship cryptocurrency will undoubtedly fly high on the back of such development.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/cardano\/cardano-ada-rise-1700-11\/\">Crypto Analyst Predicts Cardano (ADA) Price Will Rise 1700% To $11, Gives Reasons Why<\/a><\/div>\n<p><span style=\"font-weight: 400\">Renowned Economist Peter Schiff shares similar sentiments as he once noted how Bitcoin has rallied significantly on the back of the ETF rumor. According to him, there will be no more \u201cgood news\u201d to spark a Bitcoin rally once the <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-spot-etf-blackrock-sec\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">pending Spot Bitcoin ETFs are approved<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, trading firm QCP Capital <\/span><a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-spot-etfs-ath\/#:~:text=There%20is%20reason%20to%20believe,the%20first%20year%20of%20launch.\"><span style=\"font-weight: 400\">recently highlighted<\/span><\/a><span style=\"font-weight: 400\"> what could prevent this from happening. The firm stated that a significant amount of inflows into these ETFs in the first few weeks of trading could prevent the classic sell-the-news event from happening. If these funds see enough liquidity, they project that Bitcoin could hit its all-time high (ATH) of $69,000 instead.\u00a0<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Featured image from The Block, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>A crypto analyst who correctly predicted that Bitcoin would hit the heights it is currently enjoying has once again given projections as to Bitcoin\u2019s future trajectory. As part of his predictions, he highlighted the best and worst-case scenarios for the flagship cryptocurrency going forward.\u00a0 Bitcoin Could Ride To $60,000 In a live stream on his TechnicalRoundup YouTube channel, crypto analyst DonAlt noted that Bitcoin could rise to the resistance level of $60,000 based on historical patterns. The analyst had highlighted a bullish setup on the quarter timeframe, which had occurred both in 2018 and 2021. He also mentioned that the current quarterly is strikingly similar to those periods.\u00a0 Related Reading: Ethereum Supply Turns Deflationary Post-Merge, Here\u2019s How Much ETH Has Left Circulation The analyst believes that the road to $60,000 would be fuelled by the Spot Bitcoin ETF rumors (as has been the case so far) before an approval possibly comes in January. However, it is not all good news from the $60,000 price level, as DonAlt believes that the approval will be a \u2018sell-the-news\u2019 event. If that were to be the case, he predicts that Bitcoin will drop to $35,000 before it trends upward afterward. He also provided a bearish side to the quarterly timeframe setup as he suggested that this is more likely to happen as it is more \u201caccurate.\u201d\u00a0 For the bearish setup, he projects a close below the resistance level of $35,000.\u00a0 He stated that this would suggest a bearish restest and that investors could expect lower prices as a result of this.\u00a0 BTC price looks to retest $43,000 | Source: BTCUSD On Tradingview.com Why An ETF Approval Will Be A \u2018Sell-The-News\u2019 Event DonAlt further elaborated on his stance of a possible Spot Bitcoin ETF approval in January being a \u2018sell-the-news\u2019 event. He explained that the reason for this belief is because Bitcoin has ridden high (up about 3x from the bottom) on the back of these rumors. As such, this would naturally suggest that it is already priced in. He further noted that he would have had a different opinion if Bitcoin had, for example, traded at around $25,000 and then an approval came. He believes that would have been an easy trade as the flagship cryptocurrency will undoubtedly fly high on the back of such development.\u00a0 Related Reading: Crypto Analyst Predicts Cardano (ADA) Price Will Rise 1700% To $11, Gives Reasons Why Renowned Economist Peter Schiff shares similar sentiments as he once noted how Bitcoin has rallied significantly on the back of the ETF rumor. According to him, there will be no more \u201cgood news\u201d to spark a Bitcoin rally once the pending Spot Bitcoin ETFs are approved. However, trading firm QCP Capital recently highlighted what could prevent this from happening. The firm stated that a significant amount of inflows into these ETFs in the first few weeks of trading could prevent the classic sell-the-news event from happening. If these funds see enough liquidity, they project that Bitcoin could hit its all-time high (ATH) of $69,000 instead.\u00a0 Featured image from The Block, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":565539,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-565527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\n<title>Crypto Analyst Who Predicted Bitcoin 2023 Bull Run Releases New Target<\/title>\n<meta name=\"description\" content=\"A crypto 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His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. 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