- Bitcoin price holds strong above the $67,000 price level.
- BTC is expected to set a bullish weekly close which will propel the price up further.Â
- Silver-tongued analyst explains why the price of BTC will never sink below $48,000 price.
The crypto community is preparing to enter a euphoric state for Bitcoin (BTC) and altcoins in the coming months. Presently, the price of Bitcoin (BTC) is holding strong at above the $67,000 price target. If this week were to close at the same bullish level, Bitcoin will have broken through a major 7-month-long resistance level.Â
If that breakout plays out, a significant price surge is inevitable for Bitcoin. This brings us closer to the BTC price reaching its previous ATH and soaring past that level to set greater new ATHs in the thick of the bull run phase of the ongoing crypto bull cycle. These expectations range from BTC ATH price of $220,000 to $550,000.
Bitcoin Will Never Dip Below $48,000
These bullish predictions came from one reputed crypto and Bitcoin (BTC) analyst, Doctor Profit. To highlight, Doctor Profit has made many accurate predictions in the crypto market having earned him the title of the silver-tongued analyst. Most recently, he noticed that only 2 million BTC remain on exchanges leading Bitcoin into a huge supply shock.Â
With more Bitcoin ETFs buying up BTC to hold and trade, crypto exchanges hold a minimal amount of BTC reserves. Thus, he believes that a BTC supply shock is inevitable and will soon result in an epic price rally for Bitcoin followed by a parabolic altseason which will send the prices of altcoins to new ATHs as well.Â
BlackRock Entered the Market at $48,000 BTC Price
As we can see in the analyst’s latest post above, Doctor Profit states that the price of Bitcoin (BTC) will never fall below $48,000 ever again. This move was predicted by him in July 2024, and he continues to stand by it. The post goes on to explain his thoughts starting with the appearance of the Golden Bull Run.
In his eyes, the golden bull run began when BTC ETF approval came through and sent the price of BTC from $48,000 to $74,000. He remarks that since BlackRock entered the market with Bitcoin at the price of $48,000, $48,000 to $52,000 will always be considered the capitulation area and will never sink below as it is unlikely that BlackRock will allow it.
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