{"id":577152,"date":"2024-02-28T02:00:55","date_gmt":"2024-02-28T02:00:55","guid":{"rendered":"https:\/\/ktsl888.com\/?p=577152"},"modified":"2024-06-11T08:24:19","modified_gmt":"2024-06-11T08:24:19","slug":"bullish-forecast-analyst-predicts-surge-bitcoin","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bullish-forecast-analyst-predicts-surge-bitcoin\/","title":{"rendered":"Bullish Forecast: Analyst Predicts Surge To $88,000 As Bitcoin Hits Highest Level In Two Years"},"content":{"rendered":"

With Bitcoin recently surpassing the $57,000 mark<\/a>, marking its highest level since 2021, a surge in bullish outlook among analysts and experts has emerged.<\/p>\n

Bitcoin To $88,000<\/h2>\n

Among them is Ryan Rasmussen, a Senior Crypto Research Analyst at Bitwise, who recently shared his insights during an interview<\/a> with Yahoo Finance. Rasmussen projected a bullish trajectory for Bitcoin, foreseeing a potential price surge to $88,000 by the close of 2024.<\/p>\n

According to Rasmussen, Bitcoin trading at this price mark is possible, citing factors such as excitement and bullish sentiment surrounding the upcoming halving event and future traders taking bullish positions.<\/p>\n

Related Reading: Bitcoin Spot ETF Inflows Eye New Record As BTC Price Touches $57,000<\/a><\/div>\n

Rasmussen noted, disclosing Bitwise’s prediction for 2024:<\/p>\n

We think that Bitcoin will certainly set all time highs in 2024. That previous price is right around $69,000 but we don’t think its going to stop there, we think we’ll at least see a 10% to 15% bump over the last all time highs in 2024. That will take us to the mid $80,000 range so I think our target was $88,00 by 2024, and I’m still sticking by that.<\/p><\/blockquote>\n

Despite Bitcoin trading below Rasmussen’s projected $88,000 mark, it maintains a bullish trend, with recent highs surpassing $57,000. Other analysts, including legendary trader Peter Brandt, share this optimism and predict a $200,000 target for the current bull market cycle.<\/p>\n

Additionally, crypto analyst Ali has identified a “megaphone pattern”<\/a> on Bitcoin’s daily chart, suggesting the potential for a substantial rally towards $60,520 if $50,000 to $53,000 price levels are maintained.<\/p>\n

\"Bitcoin
BTC price is moving sideways on the 4-hour chart. Source: BTC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Ethereum’s Momentum Surges<\/h2>\n

Notably, aside from Bitcoin, Rasmussen also talked about Ethereum. So far, Ethereum’s price <\/a>has outperformed that of Bitcoin.<\/p>\n

Rasmussen attributed this surge in Ethereum’s value to speculation surrounding approving a spot Ethereum exchange-traded fund (ETF) in the US and the DenCun upgrade scheduled for March, which is expected to reduce transaction costs.<\/p>\n

However, regardless of Ethereum’s optimism, Rasmussen cautioned that the approval of Ethereum spot ETFs might not be as straightforward as BTC spot ETFs.<\/p>\n

He pointed out the reluctance of the US Securities and Exchange Commission’s Chair, Gensler, towards spot Bitcoin ETFs, suggesting a similar stance towards Ethereum.<\/p>\n

Rasmussen also noted that the recent Grayscale lawsuit may not have the same positive impact on Ethereum spot ETF approval as it did for Bitcoin. Looking ahead, he estimated a 50% chance of approval or rejection for Ethereum spot ETFs in May.<\/p>\n

Related Reading: Can Ethereum Touch $4,000? Crypto Analyst Says ETH Rally Far From Over<\/a><\/div>\n

The introduction of BTC spot ETFs has already significantly impacted the market, with billions flowing into spot Bitcoin ETFs. Should Ethereum spot ETF get approved, Rasmussen anticipates a similar demand for Ethereum spot ETFs, which could drive buying pressure and potentially increase prices.<\/p>\n

Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

With Bitcoin recently surpassing the $57,000 mark, marking its highest level since 2021, a surge in bullish outlook among analysts and experts has emerged. Bitcoin To $88,000 Among them is Ryan Rasmussen, a Senior Crypto Research Analyst at Bitwise, who recently shared his insights during an interview with Yahoo Finance. Rasmussen projected a bullish trajectory for Bitcoin, foreseeing a potential price surge to $88,000 by the close of 2024. According to Rasmussen, Bitcoin trading at this price mark is possible, citing factors such as excitement and bullish sentiment surrounding the upcoming halving event and future traders taking bullish positions. Related Reading: Bitcoin Spot ETF Inflows Eye New Record As BTC Price Touches $57,000 Rasmussen noted, disclosing Bitwise’s prediction for 2024: We think that Bitcoin will certainly set all time highs in 2024. That previous price is right around $69,000 but we don’t think its going to stop there, we think we’ll at least see a 10% to 15% bump over the last all time highs in 2024. That will take us to the mid $80,000 range so I think our target was $88,00 by 2024, and I’m still sticking by that. Despite Bitcoin trading below Rasmussen’s projected $88,000 mark, it maintains a bullish trend, with recent highs surpassing $57,000. Other analysts, including legendary trader Peter Brandt, share this optimism and predict a $200,000 target for the current bull market cycle. Additionally, crypto analyst Ali has identified a “megaphone pattern” on Bitcoin’s daily chart, suggesting the potential for a substantial rally towards $60,520 if $50,000 to $53,000 price levels are maintained. Ethereum’s Momentum Surges Notably, aside from Bitcoin, Rasmussen also talked about Ethereum. So far, Ethereum’s price has outperformed that of Bitcoin. Rasmussen attributed this surge in Ethereum’s value to speculation surrounding approving a spot Ethereum exchange-traded fund (ETF) in the US and the DenCun upgrade scheduled for March, which is expected to reduce transaction costs. However, regardless of Ethereum’s optimism, Rasmussen cautioned that the approval of Ethereum spot ETFs might not be as straightforward as BTC spot ETFs. He pointed out the reluctance of the US Securities and Exchange Commission’s Chair, Gensler, towards spot Bitcoin ETFs, suggesting a similar stance towards Ethereum. Rasmussen also noted that the recent Grayscale lawsuit may not have the same positive impact on Ethereum spot ETF approval as it did for Bitcoin. Looking ahead, he estimated a 50% chance of approval or rejection for Ethereum spot ETFs in May. Related Reading: Can Ethereum Touch $4,000? Crypto Analyst Says ETH Rally Far From Over The introduction of BTC spot ETFs has already significantly impacted the market, with billions flowing into spot Bitcoin ETFs. Should Ethereum spot ETF get approved, Rasmussen anticipates a similar demand for Ethereum spot ETFs, which could drive buying pressure and potentially increase prices. Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":538164,"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":[134,428,678,78790,6664,11163,8323,1946],"class_list":["post-577152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoin","tag-bitcoin","tag-bitcoin-prediction","tag-btcusdt","tag-crypto","tag-crypto-assets","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\nBullish Forecast: Analyst Predicts Surge To $88,000 As Bitcoin Hits Highest Level In Two Years<\/title>\n<meta name=\"description\" content=\"With Bitcoin recently surpassing the $57,000 mark, marking its highest level since 2021, a surge in bullish outlook among analyst...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/ktsl888.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bullish Forecast: Analyst Predicts Surge To $88,000 As Bitcoin Hits Highest Level In Two Years","url":"http:\/\/ktsl888.com\/news\/bullish-forecast-analyst-predicts-surge-bitcoin\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bullish-forecast-analyst-predicts-surge-bitcoin\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/06\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/06\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?fit=1920%2C1282"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","bitcoin","bitcoin prediction","btcusdt","crypto","crypto assets","eth","ethereum"],"dateCreated":"2024-02-28T02:00:55Z","datePublished":"2024-02-28T02:00:55Z","dateModified":"2024-06-11T08:24:19Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bullish Forecast: Analyst Predicts Surge To $88,000 As Bitcoin Hits Highest Level In Two Years\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bullish-forecast-analyst-predicts-surge-bitcoin\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bullish-forecast-analyst-predicts-surge-bitcoin\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?fit=1920%2C1282\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"bitcoin\",\"bitcoin prediction\",\"btcusdt\",\"crypto\",\"crypto assets\",\"eth\",\"ethereum\"],\"dateCreated\":\"2024-02-28T02:00:55Z\",\"datePublished\":\"2024-02-28T02:00:55Z\",\"dateModified\":\"2024-06-11T08:24:19Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/06\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?fit=1920%2C1282","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/577152"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=577152"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/577152\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/538164"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=577152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=577152"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=577152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}