BTC road to $40,000: Analysts predict a spike in BTC during major financial events

Table of Contents

• BTC $40,000 target in sight!
• Scenarios that affect the price of BTC

According to a well-known cryptocurrency market analyst, BTC (BTC) could break through the $40,000 level at any time. The analyst stressed that continued progress from the SEC and potential ETF approvals could continue to drive the market higher.

BTC $40,000 goal in sight!

The crypto analyst, who is known as “Flowing Horse” on social media, expressed a positive view of the BTC to his followers on the X platform, saying that in the current situation, there is no reason for anyone to sell BTC. The analyst also believes the BTC will continue its upward momentum until the SEC may approve cash market BTC exchange-traded funds (ETFs) by January 10, 2024. According to the experts:

"I mentioned three weeks ago that the $38,000 to $40,000 range would be at the top for the time being. Yes, that’s for that time. But now it looks like just a rising floor. I repeat, who’s selling a lot by January 10th? $40,000 is coming. ”

Scenarios that affect the price of BTC

Other factors that are expected to continue to drive BTC price increases include the April 2024 halving event, the halving of miners’ rewards, and the possibility of a rate cut by the Federal Reserve next year, which often implies upward momentum for risk assets such as BTC. The analyst mentions:

"ETFs and halving… There are still people who are in the middle of the expected price curve for next year. ”

The analyst also highlighted that if the SEC approves a spot BTC ETF, the price will rise immediately, highlighting the following:

"Think about it: Why are you selling now? Think about other people, other whales, other investors. Once the ETF is approved, almost all prices will go up, so why sell at all? We will be higher than when the ETF went live. It’s something I really believe in. ”

Source: Golden Finance