Popular Analysts Announce Bitcoin Price Targets! “According to this indicator, the next target for BTC is 70 thousand dollars!”

Leading cryptocurrency Bitcoin exceeded $45,000 as the deadline for the SEC to announce its decision on spot Bitcoin ETFs came to an end.

While the positive atmosphere regarding the BTC price continues, a BTC price prediction came from popular analysts Michael van de Poppe and Ali Martinez.

At this point, Martinez, who made a price prediction according to the Bitcoin MVRV Pricing Bands indicator, said that the upcoming price targets for Bitcoin are $ 52,680 and $ 70,250 according to this indicator.

“ According to MVRV Pricing Bands, the next key price targets for Bitcoin are $52,680 and $70,250!”

According to the #Bitcoin MVRV Pricing Bands, the next key price targets for $BTC are $52,680 and $70,250! pic.twitter.com/3w81kL6H0Z

— Ali (@ali_charts) January 2, 2024

The MVRV indicator compares the market capitalization and realized capitalization of a cryptocurrency. Through this comparison, the MVRV ratio helps investors see the highs and lows of the market. Additionally, historically MVRV has been a good indicator for spotting tops and bottoms during Bitcoin halvings.

“Bitcoin May Encounter Potential Resistance at These Levels!”

Secondly, popular analyst Michael van de Poppe also made a BTC price prediction.

Poppe stated that Bitcoin started 2024 with a rise towards new peaks.

Poppe, who made a more modest prediction compared to Martinez, said that the price target for BTC is between $48,000 and $51,000.

However, Poppe believes Bitcoin will face potential resistance once it reaches these levels.

“Bitcoin starts the new year with a new rise to highs.

I still expect BTC to move towards $48-51k and I think BTC will face potential resistance at these levels.

Will the ETF be approved this week?”

Bitcoin continues to trade at $45,190 at the time of writing.

The year starts of with a new rally of #Bitcoin towards the highs.

I’m still expecting continuation towards $48-51K and find a potential resistance there.

ETF to be approved this week?! pic.twitter.com/OdoNevoqve

— Michaël van de Poppe (@CryptoMichNL) January 2, 2024

*This is not investment advice.