A trader with a wide audience on Twitter and YouTube who calls himself Bob Lukas has taken to the X/Twitter social media platform to share a bullish Bitcoin price prediction.
He shared a BTC/USD quarterly chart showing how high he expects the flagship cryptocurrency to surge and what is likely to trigger the Bitcoin price’s extensive growth that he expects.
Bitcoin targets $74,000, here’s when this may happen
A crypto trader and YouTube blogger with almost 250,000 followers on Twitter has published a bullish post, according to which the world’s leading digital currency, Bitcoin, has the potential to surge in 2025 on the momentum received from the previous Bitcoin halvening and the four-year cycle brought to Bitcoin by it.
The Bitcoin chart shared by Lukas shows extensive green bars at the end of each four-year cycle. Lukas obviously expects the price to soar at the end of this one. The trader has shown the level that can be reached in 2025, and it is close to $74,000 – well above the $69,000 historic peak achieved in 2021.
$BTC quarterly bars. Now into the most bullish portion of the 4 yr cycle.
History rhymes often. pic.twitter.com/ZCRmYOZMXV
— Bob Loukas 🗽 (@BobLoukas) January 2, 2024
He expects the next Bitcoin price jump to happen at the end of the next four-year cycle – 2027. That is one year before the next, fifth, halving takes place in 2028. The fourth time when Bitcoin miner rewards will be cut in two is expected in April 2024.
Wall Street finally capitulating against Bitcoin: Pompliano
Prominent venture capitalist and investor Anthony Pompliano talked to CNBC recently to share his take on the much-expected approval of spot Bitcoin ETFs by the SEC.
He believes that the regulator should approve not just one but all the applications that have been filed – that includes BlackRock, Fidelity, VanEck and Ark Invest. The latter company was the very first one to submit an application in March last year.
Bitcoin rose out of the ashes of the Global Financial Crisis and Wall Street is finally capitulating.
Regulators should approve all of the ETF applications simultaneously and let the free market decide the winner.
Here is my full appearance with @LizClaman today. pic.twitter.com/rnRPFCNHJY
— Pomp 🌪 (@APompliano) January 2, 2024
Pompliano believes there is an estimated $50 billion-$100 billion worth of cash expected to flow into those newly approved spot Bitcoin ETFs over the coming years. This means that an annual fee for investing in those ETFs could be from $500 million to $1 billion. Therefore, according to Pompliano’s expectations, these ETFs are likely to spend several hundred million U.S. dollars on marketing alone.
