Bitcoin price prediction post-ETF hype; What’s next for BTC

Following the launch of the spot Bitcoin exchange-traded fund (ETF), the value of the maiden cryptocurrency has experienced a decline after briefly revisiting the $49,000 level. 

Attention has now shifted to Bitcoin’s (BTC) short-term price trajectory, with the cryptocurrency facing the risk of losing the crucial $40,000 support. Indeed, there was widespread speculation that Bitcoin might drop further after the asset plunged below $41,000 on January 20. 

In looking at the Bitcoin price forecast, crypto trading expert FieryTrading, in a TradingView post on January 20, outlined the potential outlook for Bitcoin post-ETF hype. 

In his Analysis, FieryTrading identified a correlation between bear market bottoms and Bitcoin’s price during halving events. 

Cryptocurrency

Bitcoin and Solana deployed 75% of all NFTs in 2023

Cryptocurrency

3 cryptocurrencies under $1 to buy next week

Cryptocurrency

Here’s how much Peter Schiff is up on his lost Bitcoin holdings

Cryptocurrency

Here's how many billions shook the Bitcoin ETF market this week

Cryptocurrency

Short squeeze alert for next week: Two cryptocurrencies with potential to soar

Analyzing historical data, he highlighted a speculative pattern that could significantly surge Bitcoin’s value, drawing parallels to the second and third halving events.

Bitcoin price analysis chart. Source: TradingView

For example, during the second halving, the expert pointed out a price increase of 300% from the bottom, while in the third halving, it was 200% off the bottom. 

He suggested that a move towards $31,000 for Bitcoin is plausible based on the historical trajectory. 

“So my assumption would be that the price on the 4th halving, the next one, would be 100% from the $ 15,500 bottom, so around $31,000. With BTC reversing after the ETF launch, a move towards $31,000 is not even that far-fetched, since it functioned as a very important resistance of the majority of 2023 and therefore functions as a magnet,” he said. 

Bitcoin catalyst

With the ETF not meeting expectations in terms of Bitcoin price action, attention has shifted to other catalysts, particularly the upcoming halving event scheduled for April. In this case, there are expectations that ETF will be complimented by the halving.

For instance, a previous Finbold report indicated that SkyBridge Capital founder Anthony Scaramucci stated that Bitcoin might trade at $170,000 by 2025, attributing the increase to a combination of the ETF and halving event.

Despite Bitcoin’s reaction to the ETF, the product’s overall performance has been noteworthy, attracting significant trading volume within days.

Bitcoin price analysis 

By press time, Bitcoin was trading at $41,743, experiencing daily losses of less than 1% and a weekly decline of over 2%. 

Bitcoin seven-day price chart. Source: Finbold

Elsewhere, Bitcoin technical Analysis reveals bearish sentiments, with a summary of one-day gauges indicating a ‘neutral’ rating at 7, moving averages signaling a ‘sell’ sentiment at 9, and oscillators holding a ‘buy’ sentiment at 4.

Bitcoin technical analysis. Source: TradingView

Overall, investors are closely monitoring Bitcoin’s ability to sustain gains above the $40,000 support zone.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Comments

Post a Comment

Popular posts from this blog

Circle execs and VCs misread the market — it cost them $2B

Executives and venture capitalists (VCs) who sold shares into the initial public offering (IPO) of Circle (CRCL) missed out on a rocketship rally. With at least $1.9 billion in opportunity costs through June 6, 2025, calculating the missed profits of selling instead of buying Circle’s IPO is painful. As proceeds for their sales at $29.30 per share, these VCs and executives received about $270 million. Had they simply held those shares for a couple of extra weeks, those same shares could have been worth billions. Circle’s chief product and technology officer, for example, sold 300,000 shares of class A common stock at $29.30. Had he not sold those into the IPO, he would still have shares worth $240.28 apiece as of Friday’s close. In other words, selling at the IPO cost this executive $63 million personally in opportunity cost. Similarly, Circle’s chief financial officer sold 200,000 shares of class A common stock at the same $29.30 price. His sale cost him $42 mill...
Read more

Shiba Inu’s Kusama Denies Leaving, But Hidden Truth Emerges

Image
Shiba Inu’s lead developer Shytoshi Kusama has been facing intense speculation about leaving the project after weeks of radio silence. The community has been buzzing with rumors about potential leadership changes, and right now many holders are wondering why the token keeps dropping. Recent news shows Kusama firmly denying any plans to abandon ship, yet there might be more to this story than meets the eye. Also Read: These Memecoins Drop 9% as Price Predictions Signal Major Rally SHIB Leadership Drama and Community Concerns Keep Growing Source: Watcher.Guru Kusama Finally Speaks Up About Abandonment Claims After more than a month of complete silence, Kusama eventually addressed the growing fears about him potentially leaving the project entirely. Several key communication gaps have accelerated concerns, with his last real post before September 15 actually coming way back on August 5, and this gap created a vacuum that was filled with speculation. The timing of his response is tell...
Read more