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.
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.