Bull market is approaching, the market is healthy and sustainable!" Analyst: Bitcoin to Rise to $45,000 Before Halving
The cryptocurrency market has been displaying optimism and a positive sentiment as Bitcoin (BTC) prices surge. Analysts also suggest that the current price level is akin to the critical $6,000 price point in 2019. If Bitcoin manages to hold steady above this level, there is a chance that its price could reach $45,000 to $50,000.
With the addition of the Bitcoin spot ETF to the DTCC list and the optimistic expectations for the upcoming halving event, Bitcoin's price has shown strength recently. It has surged from around $26,500 on October 12th to the $35,000 range today, marking a 35% increase. Investors are beginning to sense the return of a bullish market.
Michaël Poppe, the founder and CEO of the quantitative trading company MNTrading, shared his insights on the recent market developments on the X platform. He pointed out that Bitcoin has broken the $30,000 barrier, which is equivalent to the critical $6,000 price point from 2019. He also mentioned that as long as Bitcoin remains above this level, it indicates the arrival of a bull market, and investors are more likely to witness a classic pre-halving rally. He predicts that the price of Bitcoin could reach $45,000 to $50,000 in the near future.
Furthermore, in another tweet, he also pointed out that, in the cycle of transitioning between bull and bear markets, there tends to be a lot of arguments between bull market supporters and bear market supporters due to people being stuck in their experiences from the past two years. However, he stated:
"Things don't last forever, and neither do bear markets. Investors just need to buy at the low points and hold.
Co-founder of DWF: Bull Market is Approaching, Market is Healthy and Sustainable
The name of DWF Labs has attracted significant attention in the cryptocurrency space, and the native tokens of several projects participating in liquidity provision have quickly become market hotspots. Co-founder Andrei Grachev stated on X yesterday (4th) that cryptocurrency market trading volume is recovering, and market capitalization appears to be increasing.
Overall, everything looks very positive, healthy, and sustainable, and the bullish trend is not limited to Bitcoin alone, as there is a high level of correlation between Bitcoin and other major cryptocurrencies.
He also mentioned the BTC Dominance (Bitcoin market dominance) indicator, believing that as this indicator climbs, Bitcoin will be a topic of discussion on TV shows, media, and by prominent opinion leaders. As more people see Bitcoin's price continuously rising, more individuals are likely to join the market.
He also pointed out that the trading volume of major altcoins and sustainable contracts has increased. However, the current market momentum is insufficient to drive some low-quality coins, and he suggests that, in this cycle, investors may consider focusing on cryptocurrencies ranked in the top 1000 by market capitalization.
