Bitcoin To Surge To $110,000 – Here’s When

It seems that the optimistic predicitons that are floating around Bitcoin these days are growing in numbers. Check out the latest one, which claims that Bitcoin’s price will explode soon.

An expert analyst who accurately predicted the minimum price of Bitcoin for 2022, has now outlined a price path for the cryptocurrency to reach a new all-time high of $110,000.

The anonymous analyst, known as DonAlt, has shared his views in a recent strategy session with his 55,400 YouTube subscribers.

DonAlt predicts that Bitcoin will experience a parabolic surge after its halving in April 2024, where rewards for BTC miners will be cut in half.

Despite being optimistic about the long-term prospects of Bitcoin, DonAlt believes that the top cryptocurrency by market cap will test its support at $32,000 in April next year before heading towards his bull market target.

“Maybe we do something like this before we go lower again – like $90,000, $100,000 [or] $110,000 toward 2026 or 2025 wouldn’t surprise me but it’s what I think you could be looking at on the Bitcoin front.”

DonAlt, a market analyst, has warned that Bitcoin may soon reach an intermediate top, while traders eagerly await the potential approval of spot market Bitcoin exchange-traded funds (ETFs).

According to him, the approval of spot-based BTC ETFs is unlikely to have a positive impact on Bitcoin’s price.

“It’s getting more and more risky. The longer you stick around, the worse it gets in my opinion. The monthly [chart] is still looking okay. The only thing that you need is this area [$32,000] to hold. If this area [$32,000] doesn’t hold, that’s where you flip bearish. It’s pretty much the high time frame signal that we had here at $60,000.”

Accoridng to the reports coming from the online publication the Daily Hodl, last month, Bloomberg analyst James Seyffart said that the U.S. Securities and Exchange Commission (SEC) is possibly gearing up to approve multiple spot Bitcoin ETF applications in January.