Bitcoin

Crypto analyst Adam Back suggests that Bitcoin (BTC) could potentially reach $100,000 before the halving event in April. This prediction comes as Bitcoin rebounds from a relatively downbeat January.Cryptos Headlines Token Airdrop Is Live, Claim 5000 CHT Token Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Cryptos-Headlines-Token-Airdrop-Is-Live-Claim-Your-Reward-Now-1.png?fit&#61;900%2C200&amp;ssl&#61;1" />Recent data from CoinMarketCap indicates that BTC’s price rose by 11.02% in the last week, reaching around $47,000.<h3 id="analyst-predicts-bitcoin-bull-run-pre-halving-due-to-etf-influence">Analyst Predicts Bitcoin Bull Run Pre-Halving Due to ETF Influence</h3>In a<a href="https://twitter.com/adam3us/status/1756322033544106330" rel="noopener noreferrer nofollow"> post on X on February 10</a>, Back shared his Bitcoin price forecast, anticipating the digital asset to achieve a new all-time high (ATH) price before the much-awaited halving event on April 12, 2023. Back based his projections on <a href="https://cryptosheadlines.com/bitcoins-historical-cycles-point-to-potential-surge-to-44k-48k-in-70-days/" rel="noopener noreferrer nofollow">Bitcoin’s historical</a> price movements, noting that similar to the recent increase, BTC surpassed the $47,000 mark on October 1, 2021, eventually reaching its current ATH of $69,045 in a 41-day journey.The analyst forecasts that Bitcoin (BTC) will maintain its current upward trajectory, possibly <a href="https://cryptosheadlines.com/bitcoin-drops-to-27-5k-as-number-of-btc-addresses-reach-all-time-high/" rel="noopener noreferrer nofollow">reaching a new all-time</a> high (ATH) within the next 70 days leading up to the Bitcoin halving event. This prediction deviates from historical patterns, where the Bitcoin bull run typically occurs months after the halving event.Reasoning Behind Unique Forecast: The analyst attributes this unique forecast to the recent launch of Bitcoin spot ETFs. Despite a rocky start, the <a href="https://cryptosheadlines.com/bloomberg-anticipates-spot-bitcoin-etf-market-to-reach-100-billion/" rel="noopener noreferrer nofollow">Bitcoin spot ETF market</a> has begun to stabilize, with consistent positive net inflows recorded throughout the previous week.<a href="https://cryptosheadlines.com/ripple-xrp-and-cardano-ada-stand-out-in-708m-etf-increase/" rel="noopener noreferrer nofollow">Also Read: Ripple (XRP) and Cardano (ADA) Stand Out in $708M ETF Increase</a>Positive ETF Market Performance: On Friday, the ETF market experienced a substantial net inflow of $541.5 million, second only to the $655.3 million recorded on the first trading session on January 11. Additionally, Grayscale’s GBTC has seen a consistent decline in outflows, hitting a new low of $51.8 million.Cryptos Headlines Token Airdrop Is Live, Claim 5000 CHT Token Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Blue-Modern-Profile-Twitter-Header.png?fit&#61;1500%2C500&amp;ssl&#61;1" />Anticipated Bull Run and Dual Bull Cycle: Adam Back predicts that the continued development of the Bitcoin spot ETF market over the coming weeks could trigger a pre-halving bull run, potentially driving the asset’s price to the $100,000 mark. Moreover, the analyst suggests that <a href="https://cryptosheadlines.com/super-sell-signal-hinders-bitcoin-bull-run/" rel="noopener noreferrer nofollow">Bitcoin may still experience a bull run</a> months after the halving event, indicating a dual bull cycle.<h3 id="bitcoin-trading-update-price-gain-amid-decreased-volume">Bitcoin Trading Update: Price Gain Amid Decreased Volume</h3>At the time of writing, <a href="https://cryptosheadlines.com/bitcoin-trading-at-700-premium-on-binance-us-crypto-exchange/" rel="noopener noreferrer nofollow">Bitcoin is trading</a> at $47,716, showing a modest 0.88% increase in its price over the last day. However, the token’s daily trading volume has plummeted by a significant 59.68%, now valued at $15.92 billion.<img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/cryptosheadlines003-14.png?resize&#61;640%2C386&amp;ssl&#61;1" />BTC trading at $47,668 on the daily chart | Source: <a href="https://www.tradingview.com/x/a1HHYwwN/" rel="noopener noreferrer nofollow">BTCUSDT chart on Tradingview.com</a>Despite the decline in <a href="https://cryptosheadlines.com/pepecoin-has-overtaken-dogecoin-and-shiba-inu-in-trading-volumes-due-to-profit-taking-by-early-buyers/" rel="noopener noreferrer nofollow">trading volume</a>, Bitcoin maintains its dominance in the crypto market, boasting the largest asset market cap at $936.17 billion.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.

Bitcoin Price Prediction: Analyst Expects $100000 Before Halving

Table of Contents

CryptosHeadlines.com

Other articles published on Feb 11, 2024

Craig Wright Denies Forging Documents in High-Profile Bitcoin Lawsuit

Order Pembelian Mendominasi, Bull Cardano (ADA) Unjuk Gigi

DeeStream (DST) presale rockets as Stage 1 STILL AVAILABLE – Solana (SOL) and Ripple (XRP) holder...

Crypto + Streaming sees new gap in market platform DeeStream (DST) attracting Chainlink (LINK) & ...

Crypto Analysts Are Bullish On This New Cryptocurrency For The 2024 Bull Run

Nvidia’s Grace Hopper GH200 Superchip Challenges AMD and Intel in AI and HPC

Join our free newsletter for daily crypto updates!