Bitcoin

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/will-bitcoin-btc-price-hit-the-175k-mark-next-bull-cycle-experts-weigh-in/">Will Bitcoin (BTC) Price Hit the $175K Mark Next Bull Cycle? Experts Weigh in</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a>
Caleb Franzen, the founder of Cubic Analytics, has expressed strong support for &nbsp;<a href="https://app.coinpedia.org/company/bitcoinorg" target="_blank" rel="noopener noreferrer nofollow">bitcoin org</a> <img src="https://image.coinpedia.org/wp-content/uploads/2022/11/10122626/info_icon.svg" alt="information"> <a href="https://app.coinpedia.org/company/bitcoinorg" target="_blank" rel="noopener noreferrer nofollow"><img src="https://image.coinpedia.org/wp-content/uploads/2022/11/09190601/link.svg"></a> <a href="https://bitcoin.org/en/" target="_blank" rel="noopener noreferrer nofollow"> <img src="https://image.coinpedia.org/app_uploads/profile/1657111650785pworbaz6gz.png"></a> bitcoin org Event OrganiserTechnologyPayment solution <a href="https://bitcoin.org/en/" target="_blank" rel="noopener noreferrer nofollow"><img src="https://image.coinpedia.org/wp-content/uploads/2022/11/10161442/globe.svg"></a> <a href="https://www.facebook.com/bitcoin.core.org/" target="_blank" rel="noopener noreferrer nofollow"><img src="https://image.coinpedia.org/wp-content/uploads/2023/01/27173941/facebook-1.png"></a> <a href="https://www.linkedin.com/company/bitcoinorg" target="_blank" rel="noopener noreferrer nofollow"><img src="https://image.coinpedia.org/wp-content/uploads/2022/11/09190603/li.svg"></a> <a href="https://twitter.com/bitcoin_org_" target="_blank" rel="noopener noreferrer nofollow"><img src="https://image.coinpedia.org/wp-content/uploads/2022/11/09190602/tw.svg"></a> . Franzen, known for his technical analysis and price predictions, believes in the positive impact of Bitcoin’s strength on the entire crypto ecosystem. He emphasized the potential for a significant ripple effect and highlighted the importance of clear market signals.
In an interview with Thinking Crypto, Franzen opened up about the current market dynamics, mentioning the bullish indicators he observes in Bitcoin’s charts. He introduced the concept of the “200-day moving average Cloud” as a crucial support and resistance level. Franzen also discussed the influence of factors such as the Bitcoin halving, non-recessionary rate cuts, and the potential approval of spot ETFs.
Franzen addressed whether certain market events, such as the Bitcoin halving and spot ETF approvals, are already priced in. He argued that many participants overlook the potential impact of these factors, creating opportunities for significant market moves.
When questioned about Bitcoin’s short-term and long-term price expectations, Franzen discussed the potential impact of spot ETF approvals. He suggested that if blanket ETF approvals occur, a significant price surge could result in a $20,000 candle. Franzen expressed optimism about Bitcoin reaching $175,000 in the next cycle, driven by factors like a less restrictive monetary policy environment and the having cycle.
Franzen also discussed potential bearish catalysts for Bitcoin, pointing to a fundamental macro-driven recession as a risk. He cautioned that Bitcoin’s price, like other financial assets, could fall significantly if a recession materializes. Additionally, Franzen mentioned the risk of exchanges, such as Binance, facing issues or potential fraudulent activities being exposed, leading to corrections in the crypto market.
Despite acknowledging these risks, Franzen remains bullish on Bitcoin, stressing its strong fundamentals, including high hash rates and a significant portion of Bitcoin supply remaining unmoved. He concluded by stating that while risks are not unique to Bitcoin, he urged investors to consider the broader crypto market dynamics.

Will Bitcoin (BTC) Price Hit the $175K Mark Next Bull Cycle? Experts Weigh in

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