{"id":560539,"date":"2023-11-14T14:00:49","date_gmt":"2023-11-14T14:00:49","guid":{"rendered":"https:\/\/wncen.com\/?p=560539"},"modified":"2024-06-11T08:11:10","modified_gmt":"2024-06-11T08:11:10","slug":"bitcoin-price-supersonic","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-supersonic\/","title":{"rendered":"Bitcoin Price Ready To Go ‘Supersonic’, Analyst Says"},"content":{"rendered":"

Popular crypto analyst Don Alt has joined the <\/span>bandwagon of predictions<\/span><\/a> pertaining to <\/span>Spot Bitcoin ETFs<\/span><\/a>. Don Alt recently took to social media platform X to convey a strong bullish Bitcoin price sentiment, issuing a forecast that the cryptocurrency is on the verge of going supersonic to $60,000 in the coming months.\u00a0<\/span><\/p>\n

Even a $100,000 price point is not out of the books, according to this analyst. The catalyst for this potential liftoff? The long-awaited approval of a Spot Bitcoin ETF in the US.\u00a0<\/span><\/p>\n

Bitcoin\u2019s Supersonic Rally to $60,000<\/h2>\n

Don Alt is known for accurately predicting Bitcoin price points in the past and correctly pinpointed the crypto’s lowest price point in 2022. Now, Don Alt is of the notion that Bitcoin is poised for a massive price surge in the coming months that could send it soaring to $60,000.<\/span><\/p>\n

Related Reading: Crypto Analyst Says One Day Left Until XRP Price Blast-Off, What To Expect<\/a><\/div>\n

It’s no news that this <\/span>recent rally<\/span><\/a> is due to the excitement around the SEC’s approval of spot Bitcoin ETFs and the analyst thinks this rally will continue until a $60,000 price point. The digital currency is already up by 121% since the beginning of the year and has broken multiple yearly highs in the past month.\u00a0<\/span><\/p>\n

The longer the SEC takes to approve the applications, the higher the rally will continue in anticipation. However,\u00a0 the analyst took a different line of thinking and considered the likelihood of a price decrease after the approval.\u00a0<\/span><\/p>\n

Don Alt mentioned that the approval might turn into a “sell the news moment,” implying that there might be many more bears waiting to take advantage of the price jump to sell off than the market thinks.\u00a0<\/span><\/p>\n

\u201cNow, after the ETF gets approved, things might get a bit tricky. It could be a \u2018sell-the-news\u2019 moment, or maybe not. To be honest, I don\u2019t know,\u201d Don Alt said.<\/span><\/p>\n

This line of reasoning resonates with economist Peter Schiff, who <\/span>warned that approval<\/span><\/a> of Spot Bitcoin ETFs might lead to a Bitcoin price decline. Schiff also believes that there could be a larger number of people sitting on their assets in anticipation of an opportunity to sell at a higher price.\u00a0<\/span><\/p>\n

On-chain data shows that large investors have been selling off in light of profit-taking. Bitcoin whales and sharks <\/span>have sold around 60,000 BTC<\/span><\/a>, worth about $2.2 billion in the past week.<\/span><\/p>\n

Bitcoin Price To $100,000?<\/h2>\n

Don Alt dismissed bearish sentiments, particularly those waiting for a Bitcoin pullback to $12,000. \u201cBTC is more likely to go to $100,000 here than it is to go back to $12,000,\u201d he said.<\/span><\/p>\n

Related Reading: Renowned Economist Warns Of Bitcoin Crash Before Spot ETF Approvals<\/a><\/div>\n

The SEC is <\/span>slated to decide<\/span><\/a> on 12 ETF applications by November 17, although they might not be approved until January 2024.<\/span><\/p>\n

At the time of writing, Bitcoin’s rally has slowed down, and the asset has consolidated just below and above the $37,000 price point.\u00a0<\/span><\/p>\n

\"Bitcoin<\/p>\n

BTC maintains support above $36,400 | Source: BTCUSD on Tradingview.com<\/a><\/pre>\n
Featured image from Cointribune, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Popular crypto analyst Don Alt has joined the bandwagon of predictions pertaining to Spot Bitcoin ETFs. Don Alt recently took to social media platform X to convey a strong bullish Bitcoin price sentiment, issuing a forecast that the cryptocurrency is on the verge of going supersonic to $60,000 in the coming months.\u00a0 Even a $100,000 price point is not out of the books, according to this analyst. The catalyst for this potential liftoff? The long-awaited approval of a Spot Bitcoin ETF in the US.\u00a0 Bitcoin\u2019s Supersonic Rally to $60,000 Don Alt is known for accurately predicting Bitcoin price points in the past and correctly pinpointed the crypto’s lowest price point in 2022. Now, Don Alt is of the notion that Bitcoin is poised for a massive price surge in the coming months that could send it soaring to $60,000. Related Reading: Crypto Analyst Says One Day Left Until XRP Price Blast-Off, What To Expect It’s no news that this recent rally is due to the excitement around the SEC’s approval of spot Bitcoin ETFs and the analyst thinks this rally will continue until a $60,000 price point. The digital currency is already up by 121% since the beginning of the year and has broken multiple yearly highs in the past month.\u00a0 The longer the SEC takes to approve the applications, the higher the rally will continue in anticipation. However,\u00a0 the analyst took a different line of thinking and considered the likelihood of a price decrease after the approval.\u00a0 Don Alt mentioned that the approval might turn into a “sell the news moment,” implying that there might be many more bears waiting to take advantage of the price jump to sell off than the market thinks.\u00a0 \u201cNow, after the ETF gets approved, things might get a bit tricky. It could be a \u2018sell-the-news\u2019 moment, or maybe not. To be honest, I don\u2019t know,\u201d Don Alt said. This line of reasoning resonates with economist Peter Schiff, who warned that approval of Spot Bitcoin ETFs might lead to a Bitcoin price decline. Schiff also believes that there could be a larger number of people sitting on their assets in anticipation of an opportunity to sell at a higher price.\u00a0 On-chain data shows that large investors have been selling off in light of profit-taking. Bitcoin whales and sharks have sold around 60,000 BTC, worth about $2.2 billion in the past week. Bitcoin Price To $100,000? Don Alt dismissed bearish sentiments, particularly those waiting for a Bitcoin pullback to $12,000. \u201cBTC is more likely to go to $100,000 here than it is to go back to $12,000,\u201d he said. Related Reading: Renowned Economist Warns Of Bitcoin Crash Before Spot ETF Approvals The SEC is slated to decide on 12 ETF applications by November 17, although they might not be approved until January 2024. At the time of writing, Bitcoin’s rally has slowed down, and the asset has consolidated just below and above the $37,000 price point.\u00a0 BTC maintains support above $36,400 | Source: BTCUSD on Tradingview.com Featured image from Cointribune, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":560549,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[167,428,656,679,1119,89185,1144,78790,6664,26263,14690],"class_list":["post-560539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nBitcoin Price Ready To Go 'Supersonic', Analyst 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Ready To Go ‘Supersonic’, Analyst Says","url":"http:\/\/wncen.com\/news\/bitcoin-price-supersonic\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-supersonic\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Bitcoin-supersonic-Small.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Bitcoin-supersonic-Small.jpeg?fit=320%2C213"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["analyst","bitcoin","bitcoin news","bitcoin price","btc","btc news","btcusd","btcusdt","crypto","crypto analyst","crypto news"],"dateCreated":"2023-11-14T14:00:49Z","datePublished":"2023-11-14T14:00:49Z","dateModified":"2024-06-11T08:11:10Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Ready To Go ‘Supersonic’, Analyst Says\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-supersonic\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-supersonic\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/Bitcoin-supersonic-Small.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/Bitcoin-supersonic-Small.jpeg?fit=320%2C213\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"analyst\",\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc news\",\"btcusd\",\"btcusdt\",\"crypto\",\"crypto analyst\",\"crypto news\"],\"dateCreated\":\"2023-11-14T14:00:49Z\",\"datePublished\":\"2023-11-14T14:00:49Z\",\"dateModified\":\"2024-06-11T08:11:10Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Bitcoin-supersonic-Small.jpeg?fit=320%2C213","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/560539"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=560539"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/560539\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/560549"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=560539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=560539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=560539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}