As the upcoming fourth Bitcoin halving, slated for April, approaches, various industry experts are offering predictions, and technical analyst Gert van Lagen suggests a potential climb to the $200,000 mark before the event.
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Following the “sell the news” reaction to the approval of spot Bitcoin ETFs, attention turns to the next bullish catalyst for crypto prices.
Van Lagen employs Elliott Wave analysis, indicating a wave pattern that could lead to a $200,000 BTC price before the halving, signifying a robust accumulation phase by investors.
Despite the recent U.S. SEC approval of spot Bitcoin ETFs, the immediate market response hasn’t been as parabolic as expected, with Bitcoin currently trading around $42,962.
However, analysts anticipate potential surges driven by institutional demand for ETFs and the impending block subsidy halving, aligning with the views of Bitcoin advocate Michael Saylor, who foresees a substantial influx of investment following these developments.