Bitcoin

Momentum

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<img width="1320" height="744" src="https://coingape.com/wp-content/uploads/2023/11/Bitcoin-BTC.jpg" class="attachment-full size-full wp-post-image" alt="Bitcoin Rolex News" decoding="async" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2023/11/Bitcoin-BTC.jpg 1320w, https://coingape.com/wp-content/uploads/2023/11/Bitcoin-BTC-300x169.jpg 300w, https://coingape.com/wp-content/uploads/2023/11/Bitcoin-BTC-1224x690.jpg 1224w, https://coingape.com/wp-content/uploads/2023/11/Bitcoin-BTC-768x433.jpg 768w, https://coingape.com/wp-content/uploads/2023/11/Bitcoin-BTC-678x381.jpg 678w, https://coingape.com/wp-content/uploads/2023/11/Bitcoin-BTC-150x85.jpg 150w" sizes="(max-width: 1320px) 100vw, 1320px">
The Bitcoin price curve is following an interesting pattern that could potentially give investors confidence for the days to come. At the current level, the <a href="https://coingape.com/price/bitcoin/" target="_blank" rel="noopener">BTC price</a> retraced the April 2022 level, which was a few weeks before the FTX collapse erupted in the crypto market. 
Also Read: <a href="https://coingape.com/bitcoin-maxi-says-further-btc-price-uptrend-will-shock-the-world" target="_blank" rel="noopener">Bitcoin Maxi Says Further BTC Price Uptrend “Will Shock The World”</a> 
<h2 id="btc-price-forecast">BTC Price Forecast</h2> 
According to X account of Titan of Crypto, a projection up to $46,500 is made based on price activity in the last 72 hours. When observed in lower time frame of 15 minutes, the top cryptocurrency is following the same pattern of price rise and consequent correction in the last three days. Hence, based on the same projections, BTC price is expected to touch the $46,500, the analyst said. He <a rel="nofollow" href="https://twitter.com/Washigorira/status/1732272407560229105" target="_blank">added</a>, 
<blockquote>
 “Bitcoin $46,500 next? In the lower timeframe (15min) BTC seems to be replicating the same exact pattern for 3 consecutive days. If this pattern were to repeat again today, $46.5k would be the target.”
</blockquote> 
<img decoding="async" class="aligncenter size-full wp-image-167916" src="https://coingape.com/wp-content/uploads/2023/12/btcc-min.png" alt="" width="3326" height="2062" srcset="https://coingape.com/wp-content/uploads/2023/12/btcc-min.png 3326w, https://coingape.com/wp-content/uploads/2023/12/btcc-min-300x186.png 300w, https://coingape.com/wp-content/uploads/2023/12/btcc-min-1224x759.png 1224w, https://coingape.com/wp-content/uploads/2023/12/btcc-min-768x476.png 768w, https://coingape.com/wp-content/uploads/2023/12/btcc-min-1536x952.png 1536w, https://coingape.com/wp-content/uploads/2023/12/btcc-min-2048x1270.png 2048w, https://coingape.com/wp-content/uploads/2023/12/btcc-min-150x93.png 150w" sizes="(max-width: 3326px) 100vw, 3326px"> 
Meanwhile, on-chain data <a href="https://coingape.com/bitcoin-whale-wallets-returning-back-to-buying-bull-market-here-to-stay" target="_blank" rel="noopener">shows</a> that the Bitcoin wallets with over 100 BTC have activated in the lasy four weeks in the lead up to the rally above $40,000. Also, Bitcoin Maximalist <a href="https://coingape.com/bitcoin-maxi-says-further-btc-price-uptrend-will-shock-the-world" target="_blank" rel="noopener">said</a> he was expecting a ‘God candle‘ for BTC to further rise by $100K from the current level. 
<h2 id="long-term-prospects">Long Term Prospects</h2> 
In the longer term, the top cryptocurrency could likely have a huge boost with the potential approval of the spot Bitcoin ETF as well as the upcoming <a href="https://coingape.com/glossary/bitcoin-halving-2/" target="_blank" rel="noopener">Bitcoin Halving</a> event. It remains to be seen if the price breaches $50,000 before the ETF approval comes, only to be well placed to reach the next stage of bull run. Analysts are expecting the next possible dates for ETF approval announcement to be around the small window between January 6 to 8, 2023. 
However, the U.S. Securities and Exchange Commission (SEC) stands every chance to further delay the approval for few weeks owing to technical reasons. 
Also Read: <a rel="nofollow" href="http://coingape.com/just-in-sec-delays-grayscale-ethereum-trust-etf-decision-to-jan-25" target="_blank">US SEC Delays Grayscale Ethereum Trust ETF Decision to Jan 25</a> 
The post <a rel="nofollow" href="https://coingape.com/bitcoin-price-prediction-what-if-btc-repeats-weekly-momentum/">Bitcoin Price Prediction: What If BTC Repeats Weekly Momentum</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.

Bitcoin Price Prediction: What If BTC Repeats Weekly Momentum

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