spot_imgspot_imgspot_img

Bitcoin Price Reaches $42,000: Bold BTC Price Prediction from Max Keiser!

  • Bitcoin, the world’s largest cryptocurrency by market value, surpassed $42,000 for the first time since the severe digital asset crash in May 2022 on December 4.
  • Since then, the rising crypto has made a remarkable comeback: at the beginning of this year, its price was not much over $17,000.
  • With Bitcoin surpassing the $42,000 threshold on Monday for the first time since April 2022, the probability of BTC continuing its rise by the end of the year strengthened.

Bitcoin price, with the momentum gained by surpassing $41,000 on Monday, managed to exceed the $42,000 level: Keiser is predicting the peak of BTC!

Bitcoin Price Reaches $42,000

bitcoin-btc

Bitcoin, the world’s largest cryptocurrency by market value, surpassed $42,000 for the first time since the severe digital asset crash in May 2022 on December 4, initiating a crypto winter that lasted for many months.

Since then, the rising crypto has made a remarkable comeback: at the beginning of this year, its price was not much over $17,000, and currently, it has risen by over 130% since the beginning of the year. Against this backdrop, well-known Bitcoin bull Max Keiser is predicting a new all-time high for BTC.

With Bitcoin surpassing the $42,000 threshold on Monday for the first time since April 2022, the probability of BTC continuing its rise by the end of the year strengthened. According to the data at the time of writing, BTC was $42,086 per coin, rising by over 5% in the last 24 hours.

The possible positive effects of an upcoming approval of a spot Bitcoin exchange-traded fund (ETF) and recent statements by Federal Reserve Chairman Jerome Powell are leading the bull market movement. Powell, in a planned speech at Spelman College in Atlanta, Georgia, stated, “The FOMC is determined to bring inflation down to 2% over time and to keep policy restrictive until this goal is reached.”

Investors seem optimistic about investing in Bitcoin, hoping that the US Securities and Exchange Commission (SEC) will finally approve a spot BTC ETF after a decade of waiting. A variety of leading Wall Street firms, including BlackRock, VanEck, Franklin Templeton, and Fidelity, are ready to launch such spot-based ETFs.

Max Keiser’s Bitcoin prediction

In a bullish market environment, Max Keiser, serving as a senior Bitcoin advisor to El Salvador President Nayib Bukele, believes that Bitcoin is on its way to a new historical peak. Two years ago, on November 10, 2021, Bitcoin set an all-time high price of $69,044, followed by a 65% drop in the next year due to a series of bankruptcies in the crypto sector and downward-trending macroeconomic forces. BTC is currently 42.44% lower than this 2021 peak. According to Keiser, the next peak in Bitcoin will be $220,000.

Considering $42,000, Max Keiser is not the only market participant optimistic about the future of the leading cryptocurrency. As previously reported by COINOTAG, Galaxy Digital CEO Mike Novogratz predicted that BTC could reach its former November 2021 peaks after an ETF approval. Novogratz is confident that billions, if not more, will flow into the ETF sector within the first year after the launch of a Bitcoin ETF. Bloomberg analysts expect the SEC to approve a spot Bitcoin ETF by January 10, 2024 – a potentially game-changing moment for the digital asset industry.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news

spot_imgspot_imgspot_imgspot_img

Latest News

Bitcoin Approaches Its Next Halving: Can This Time Be Different?

As Bitcoin nears another halving, the crypto community watches closely, anticipating its potential impact on the market amidst evolving circumstances.

Bitcoin Funding Rate Dips Negative Amid $251M ETF Inflows: A Bearish Signal or Market Resilience?

This article delves into the recent negative turn in Bitcoin's funding rate against a backdrop of significant ETF inflows, exploring whether this signals a bearish trend or underscores the cryptocurrency's resilience.

Massive XRP Transfer Raises Concerns: XRP May Experience Selling Pressure!

The substantial transfers of XRP have garnered attention; will the transfers to Bitso and Bitstamp create selling pressure on XRP?

Uniswap Introduces “uni.eth” Subdomains with ENS Integration: Here are the Details!

Decentralized exchange platform Uniswap has introduced uni.eth subdomains with Ethereum Name Service integration.

Ripple Initiates Collaboration with Zoniqx to Empower Asset Tokenization

Ripple, a leading enterprise blockchain and crypto solutions provider, joins forces with Zoniqx: Here are the details!
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Ethereum Breaks $3K as Rally Continues: What’s Next for ETH?

This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.

Will Bitcoin Rise To $50,000? Current BTC Analysis

Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.

Where is the Solana Rise Target? Current SOL Analysis!

Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.

Medium Term Ethereum Technical Analysis! What Awaits Its Investors?

When examining the medium-term technical chart of Ethereum, strong buying pressure is observed, pushing the price up from the $2139 support to the $2350 region. However, for the price to sustain its upward movement, it needs to surpass the $2407 resistance.

Can Bitcoin Fall To $35,000 Levels? Current BTC Analysis

When examining Bitcoin's 5-day technical chart, the analysis from January 18 is ongoing, indicating a continued downward movement from the $48,189 level. Bitcoin needs to close 5-day candles above the $44,200 resistance to gain momentum for an upward trend. 
Celal Mutlu
Celal Mutluhttps://coinotag.com/
Celal Mutlu is a young Satoshi reflection at the age of 21. His favorite characters are CZ and Vitalik, and he has a great sense of humor. Celal is a keen follower of developments in the world of cryptocurrency and keeps up with the latest news and trends.
spot_imgspot_imgspot_imgspot_img

Bitcoin Approaches Its Next Halving: Can This Time Be Different?

As Bitcoin nears another halving, the crypto community watches closely, anticipating its potential impact on the market amidst evolving circumstances.

Bitcoin Funding Rate Dips Negative Amid $251M ETF Inflows: A Bearish Signal or Market Resilience?

This article delves into the recent negative turn in Bitcoin's funding rate against a backdrop of significant ETF inflows, exploring whether this signals a bearish trend or underscores the cryptocurrency's resilience.

Massive XRP Transfer Raises Concerns: XRP May Experience Selling Pressure!

The substantial transfers of XRP have garnered attention; will the transfers to Bitso and Bitstamp create selling pressure on XRP?