A trader going by the handle Bob Lukas, who has a sizable following on YouTube and Twitter, has come to the X/Twitter social media site to make a positive price prediction for Bitcoin.
He released a quarterly Bitcoin/USD chart that illustrates how high he believes the flagship cryptocurrency will rise and what he believes will likely set off the price of Bitcoin’s anticipated massive increase.
Bitcoin targets $74,000, here’s when this may happen
In a bullish post, a YouTube blogger and cryptocurrency trader with nearly 250,000 Twitter followers stated that Bitcoin, the most popular digital currency globally, could rise in 2025 as a result of the momentum from its previous halving and the four-year cycle it brought about.
https://x.com/BobLoukas/status/1742217743946981490?s=20
At the conclusion of each four-year cycle, Lukas’s Bitcoin chart displays a large number of green bars. Lukas clearly anticipates a huge price increase at the conclusion of chapter one. The trader has indicated the potential level for 2025, which is over $74,000, far higher than the historical peak of $69,000 obtained in 2021.
He believes the next spike in the price of Bitcoin will occur in 2027, at the end of the next four-year cycle. That year, in 2028, is when the fifth and final halving will occur. In April 2024, there will likely be a fourth instance of a two-fold reduction in Bitcoin miner payments.
Wall Street finally capitulating against Bitcoin: Pompliano
Renowned investor and startup entrepreneur Anthony Pompliano recently spoke with CNBC about his thoughts on the SEC’s much-anticipated approval of spot Bitcoin ETFs.
In his opinion, the regulator ought to accept each and every application that has been submitted, including those from BlackRock, Fidelity, VanEck, and Ark Invest. In March of last year, the latter business was the first to file an application.
https://x.com/APompliano/status/1742310278060978440?s=20
Pompliano estimates that over the next several years, $50 billion to $100 billion in capital is anticipated to flow into those recently approved spot Bitcoin ETFs. This implies that an investment in those ETFs may incur an annual cost of $500 million to $1 billion. Pompliano therefore projects that these ETFs will likely spend several hundred million dollars on marketing alone.
