Bitcoin has been performing exceptionally well this year, hitting price levels not seen since late 2021. In the past day alone, the leading cryptocurrency has surged by 4%, adding to an impressive 22% gain over the last week.
Amidst this positive trend, analyst Marc van der Chijs confidently predicts that Bitcoin will reach the $100,000 mark in the next three months.
Bitcoin’s $1000 Daily Surge
Analyzing Post-ETF Bitcoin Trends: Renowned crypto investor and analyst Marc van der Chijs has recently shared intriguing insights into the post-ETF Bitcoin charts, unveiling compelling price predictions for the next three months.
I spent some time analyzing the post-ETF Bitcoin charts today and came up with some rough price predictions for the next 3 months. Currently the ETF inflows lead to a 2% increase in price per day, which is about $1000 per day. Most of the increase is taking place during the…
— Marc van der Chijs (@marcvanderchijs) February 15, 2024
According to Van der Chijs, the increased participation of investors in Bitcoin through Exchange-Traded Funds (ETFs) is driving the price up by approximately 2% daily, equivalent to adding $1000 to its value each day.
Significantly, these inflows into Bitcoin via ETFs are currently exceeding the newly mined BTC by 10-12 times. Van der Chijs emphasizes that individuals are strategically selling their BTC at higher prices to fulfill ETF orders, not only pushing prices higher but also sparking FOMO (Fear of Missing Out) among ETF investors.
Market Inefficiency Opportunity: Van der Chijs notes that this surge is particularly evident during the settlement period preceding the US market opening. Recognizing this as a market inefficiency, he identifies a potential opportunity for traders to seize and capitalize on this trend.
Bitcoin’s Future Outlook
Bitcoin’s Potential Surge: Crypto analyst Marc van der Chijs has pinpointed two critical factors that could drive a significant uptick in Bitcoin’s value.
Firstly, the impending halving of BTC mining rewards in mid-April is expected to slash the daily production of new coins from 900 to 450, leading to a heightened supply shock. Secondly, the availability of a new ETF for sale by early May, after 90 days of trading, could attract more buyers to Bitcoin.
Despite acknowledging the market’s uncertain terrain, van der Chijs speculates that Bitcoin’s value could surge by $1000 daily in the upcoming weeks. He anticipates this surge to amplify with the approaching Bitcoin halving and the ETF introduction.
Van der Chijs forecasts the potential for Bitcoin to reach a new all-time high, potentially surpassing $69,000 before the halving. He suggests there’s a possibility for Bitcoin to hit $100,000 within the next 2-3 months, barring any unforeseen developments.
The clarity and simplicity of van der Chijs’ analysis offer investors a clearer vision of Bitcoin’s future trajectory, attracting interest from both novices and seasoned market participants.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
Join Cryptos Headlines Community
Follow Cryptos Headlines on Google News
