The Bitcoin price trajectory is unfolding in a compelling manner, instilling confidence in investors for the upcoming days. Currently retracing to the April 2022 level, just weeks before the FTX collapse in the crypto market, the BTC price has caught the attention of Titan of Crypto. Based on the last 72 hours’ price activity, this expert anticipates a projection up to $46,500, noting a consistent pattern of rise and correction in the cryptocurrency’s lower time frame of 15 minutes.Simultaneously, on-chain data reveals a surge in Bitcoin wallets with over 100 BTC being activated in the past four weeks, leading up to the rally above $40,000. Adding to the optimism, a Bitcoin Maximalist predicts a ‘God candle,’ foreseeing BTC’s ascent by $100K from its current level.
Long Term Prospects
Looking ahead, the premier cryptocurrency stands to experience a significant uplift, especially with the potential approval of a spot Bitcoin ETF and the impending Bitcoin Halving event in the long term. The question remains whether the price will surpass $50,000 prior to ETF approval, setting the stage for the next phase of a bullish trend. Analysts are eyeing the period between January 6 to 8, 2023, as potential dates for the ETF approval announcement.Nevertheless, there exists a possibility that the U.S. Securities and Exchange Commission (SEC) may opt to prolong the approval process by a few weeks, citing technical reasons.
