Leading cryptocurrency Bitcoinexceeded $45,000 as the deadline for the SEC to announce its decision on spot Bitcoin ETFs came to an end.
BTC While the positive atmosphere regarding the price continues, BTC price prediction came from popular analysts Michael van de Poppe and Ali Martinez.
at this point Bitcoin MVRV Pricing Bands Martinez, who makes price predictions according to the indicator, He said the upcoming price targets for Bitcoin are $52,680 and $70,250.
“According to MVRV Pricing Bands, the next key price targets for Bitcoin are $52,680 and $70,250!”
According to the #Bitcoin MVRV Pricing Bands, the next key price targets for $BTC are $52,680 and $70,250! pic.twitter.com/3w81kL6H0Z
— Ali (@ali_charts) January 2, 2024
The MVRV indicator compares the market capitalization and realized capitalization of a cryptocurrency. Through this comparison, the MVRV ratio helps investors see the highs and lows of the market. Additionally, historically MVRV has been a good indicator for spotting tops and bottoms during Bitcoin halvings.
“Bitcoin May Encounter Potential Resistance at These Levels!”
Second popular analyst michael van de Poppe also made a BTC price prediction.
Poppe stated that Bitcoin started 2024 with a rise towards new peaks.
Poppe made a more modest prediction than Martinez. He said his price target for BTC is between $48,000 and $51,000.
However, Poppe believes that Bitcoin will face potential resistance once it reaches these levels.
“Bitcoin starts the new year with a new rise to the top.
I still expect BTC to move towards $48-51k and I think BTC will face potential resistance at these levels.
Will the ETF be approved this week?”
Bitcoin continues to trade at $45,190 at the time of writing.
The year starts of with a new rally of #Bitcoin towards the highs.
I’m still expecting continuation towards $48-51K and find a potential resistance there.
ETF to be approved this week?! pic.twitter.com/OdoNevoqve
— Michaël van de Poppe (@CryptoMichNL) January 2, 2024
*This is not investment advice.
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