A top trader predicted the fact that Bitcoin will see a fast rally to $50,000 soon, but he says that there is a catch. Check out the latest reports about this below. Bitcoin to rally to $50,000 According to a crypto strategist who accurately predicted Bitcoin’s bear market bottom in 2018, the top digital asset is poised for a rally to a new two-year high. The analyst, known as Bluntz, has informed his 235,600 followers on the social media platform X that Bitcoin is currently in the middle of a five-wave move to the upside. Bluntz shared a chart indicating that BTC may reach as high as $50,000 in the near future, as the market awaits the potential approval of spot-based Bitcoin exchange-traded funds (ETFs). “The big week is coming up. BTC traded sideways all weekend in anticipation of this week’s news. My bias for BTC is something like this, where we spike up on ETF announcement news then start a deeper pullback that sweeps range lows. While BTC makes fresh highs, judging by altcoin price action over the weekend, I think a few will make fresh highs as well but also quite a few will end up being lower highs and won’t make fresh highs.” Bluntz is a well-known follower of the Elliott Wave theory, which is an advanced technical analysis methodology that aims to forecast future price movements by tracking crowd psychology that typically manifests in waves. As per the theory, a bullish asset undergoes a five-wave surge before experiencing a three-wave decline. Upon examining the trader’s chart, it appears that he predicts that Bitcoin will surge above $50,000 to complete its fifth wave, which will then trigger a three-wave correction to $38,000. Regarding Bitcoin’s price today, at the moment of writing this article, BTC is trading in the green and the king coin is priced at $46,702.

Ark Invest’s Cathie Wood Has Just Issued A Bullish Alert For Bitcoin – BTC To Hit $1,500,000

It has been reported the fact that Ark Invest’s Cathie Wood issued a really bullish alert for Bitcoin. She believes that the king coin will hit $1,500,000, and we suggest that you check out the price predictions about BTC that she made below.

Bitcoin price prediction from Cathie Wood

Cathie Wood, the founder of ARK Invest, believes that the recent approval of spot market BTC exchange-traded funds has made the prospect of Bitcoin hitting a massive price target more likely.

In an interview with CNBC Squawk Box, Wood stated that ARK Invest’s bullish prediction of Bitcoin reaching $1.5 million by 2030 is now more probable due to the approval of 11 spot Bitcoin ETFs by the U.S. Securities and Exchange Commission (SEC) on Wednesday.

“Our base case is in the $600,000 range. Our bull case – and we think the probability of the bull case has increased with this SEC approval, this is a green light – our bull case is $1.5 million by 2030.

You can see the [price forecast] building blocks [on Ark Invest’s website]. You can see how conservative we are in terms of those building blocks. This is a big idea. It is the first global, decentralized, digital, rules-based – critical there – rules-based monetary system in history. It is a very big idea.”

ARK Invest is among the 11 applicants whose spot Bitcoin ETF proposals have been approved by the SEC.

The other 10 applicants include BlackRock, Fidelity, Grayscale, VanEck, Bitwise, Franklin, Valkyrie, Hashdex, WisdomTree, and Invesco Galaxy.

These ETFs will create a financial conduit between Wall Street and the leading digital asset by market capitalization. As of writing, Bitcoin is trading at $45,966, up 1.6% in the last 24 hours.

Bitcoin bullish cycle prediction

Recent reports suggest that a popular crypto analyst, Michaël van de Poppe, believes that Bitcoin (BTC) will experience significant growth after the approval of exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC).

Van de Poppe, who has over 683,000 followers on the social media platform X, predicts that BTC could reach a value as high as $600,000 during this market cycle.

Check out our previous article in order to learn more details about the price prediction of Bitcoin.


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