{"id":569184,"date":"2024-01-11T19:39:30","date_gmt":"2024-01-11T19:39:30","guid":{"rendered":"https:\/\/wncen.com\/?p=569184"},"modified":"2024-06-11T11:11:36","modified_gmt":"2024-06-11T11:11:36","slug":"bitcoin-news-catalyst-could-etf-hype-cause-btc-price-to-double","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-news-catalyst-could-etf-hype-cause-btc-price-to-double\/","title":{"rendered":"Bitcoin News Catalyst: Could ETF Hype Cause BTC Price To Double?"},"content":{"rendered":"

Bitcoin price<\/a> is struggling to crack resistance around $47,000 per coin, but it might not be long until it does thanks to the backdrop of bullish spot BTC ETF news<\/a>. The news could also be supported by a change in mass crowd psychology, according to Elliott Wave Principle and the current projected count in BTCUSD. All of this could cause the top cryptocurrency by market cap to double in a flash.<\/p>\n

The Countdown To Bitcoin Price Doubling<\/h2>\n

During every major bull run, there is a phase where the rally is supported by the regular occurrence of bullish Bitcoin news<\/a>. If it all seems to arrive at once, this is due to the way mass crowd psychology works, according to Elliott Wave Principle.<\/p>\n

When an asset, in this case BTCUSD, reaches what’s referred to as an impulse wave, humans begin to behave in an impulsive way, selling at the first sign of a correction, and buying every minor pump that ultimately gets retraced. Because so many market participants are entering during this phase, things get extra volatile.<\/p>\n

Related Reading: Bitcoin Trend Strength Exhibits Striking Similarities With Last Bull Run<\/a><\/div>\n

If this sounds familiar, this is precisely what’s going on with Bitcoin now, and it’s only going to pick up momentum as ETF-related investments are revealed. Compare the chart below referencing BTCUSD now versus late 2020. During the green box, bullish news was breaking all day long.<\/p>\n

\"BTCUSD_2024-01-11_14-23-48\"<\/p>\n

Is BTC poised to double soon? | BTCUSD on TradingView.com<\/a><\/pre>\n
Show Me The Charts, And I’ll Tell You The News<\/h2>\n
An onslaught of big companies began buying BTC, such as MicroStrategy, Tesla, and Square. From the bottom of what is labeled wave (iv) in BTCUSD to the top of wave (v) in 2020 into early 2021, the first ever cryptocurrency went on a 136% run. This caused price to more than double from around $18,000 to $42,000.<\/p>\n
Today, Bitcoin is in a similar wave count, with news catalysts ready to help propel the crypto market higher. If the Elliott Wave Principle count is accurate, BTCUSD could see a similarly move where it doubles in a matter of a month. Another 136% increase from here would take BTC to around $95,000 per coin and complete wave (v) and wave 3.<\/p>\n
Related Reading: Bitcoin Enters Uncharted Territory with First Ever Golden Cross<\/a><\/div>\n
Wave 3’s are commonly referred to as an impulse wave. An impulse wave can be sub-divided into five sub-waves. When the powerful wave 3 ascent is over, only a short-lived wave 4 sharp correction should follow, at which point wave 5 will begin and complete the cycle.<\/p>\n
Tony is the author of the CoinChartist (VIP) newsletter<\/a>. Sign up for free<\/a>. Follow @TonyTheBullBTC<\/a> & @coinchartist_io<\/a> on Twitter. Or join\u00a0the TonyTradesBTC Telegram<\/a> for daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from Shutterstock, Charts from TradingView.com<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is struggling to crack resistance around $47,000 per coin, but it might not be long until it does thanks to the backdrop of bullish spot BTC ETF news. The news could also be supported by a change in mass crowd psychology, according to Elliott Wave Principle and the current projected count in BTCUSD. All of this could cause the top cryptocurrency by market cap to double in a flash. The Countdown To Bitcoin Price Doubling During every major bull run, there is a phase where the rally is supported by the regular occurrence of bullish Bitcoin news. If it all seems to arrive at once, this is due to the way mass crowd psychology works, according to Elliott Wave Principle. When an asset, in this case BTCUSD, reaches what’s referred to as an impulse wave, humans begin to behave in an impulsive way, selling at the first sign of a correction, and buying every minor pump that ultimately gets retraced. Because so many market participants are entering during this phase, things get extra volatile. Related Reading: Bitcoin Trend Strength Exhibits Striking Similarities With Last Bull Run If this sounds familiar, this is precisely what’s going on with Bitcoin now, and it’s only going to pick up momentum as ETF-related investments are revealed. Compare the chart below referencing BTCUSD now versus late 2020. During the green box, bullish news was breaking all day long. Is BTC poised to double soon? | BTCUSD on TradingView.com Show Me The Charts, And I’ll Tell You The News An onslaught of big companies began buying BTC, such as MicroStrategy, Tesla, and Square. From the bottom of what is labeled wave (iv) in BTCUSD to the top of wave (v) in 2020 into early 2021, the first ever cryptocurrency went on a 136% run. This caused price to more than double from around $18,000 to $42,000. Today, Bitcoin is in a similar wave count, with news catalysts ready to help propel the crypto market higher. If the Elliott Wave Principle count is accurate, BTCUSD could see a similarly move where it doubles in a matter of a month. Another 136% increase from here would take BTC to around $95,000 per coin and complete wave (v) and wave 3. Related Reading: Bitcoin Enters Uncharted Territory with First Ever Golden Cross Wave 3’s are commonly referred to as an impulse wave. An impulse wave can be sub-divided into five sub-waves. When the powerful wave 3 ascent is over, only a short-lived wave 4 sharp correction should follow, at which point wave 5 will begin and complete the cycle. Tony is the author of the CoinChartist (VIP) newsletter. Sign up for free. Follow @TonyTheBullBTC & @coinchartist_io on Twitter. Or join\u00a0the TonyTradesBTC Telegram for daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from Shutterstock, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":564359,"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":[428,1119,1144,82859,78790,6664],"class_list":["post-569184","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdc","tag-btcusdt","tag-crypto"],"acf":[],"yoast_head":"\nBitcoin News Catalyst: Could ETF Hype Cause BTC Price To Double?<\/title>\n<meta name=\"description\" content=\"Bitcoin price is struggling to crack resistance around $47,000 per coin, but it might not be long until it does thanks to the backdrop of bullish spot BTC\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin News Catalyst: Could ETF Hype Cause BTC Price To Double?","url":"http:\/\/wncen.com\/news\/bitcoin-news-catalyst-could-etf-hype-cause-btc-price-to-double\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-news-catalyst-could-etf-hype-cause-btc-price-to-double\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/iStock-877508718.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/iStock-877508718.jpg?fit=1254%2C836"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd","btcusdc","btcusdt","crypto"],"dateCreated":"2024-01-11T19:39:30Z","datePublished":"2024-01-11T19:39:30Z","dateModified":"2024-06-11T11:11:36Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin News Catalyst: Could ETF Hype Cause BTC Price To Double?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-news-catalyst-could-etf-hype-cause-btc-price-to-double\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-news-catalyst-could-etf-hype-cause-btc-price-to-double\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/iStock-877508718.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/iStock-877508718.jpg?fit=1254%2C836\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\",\"btcusdc\",\"btcusdt\",\"crypto\"],\"dateCreated\":\"2024-01-11T19:39:30Z\",\"datePublished\":\"2024-01-11T19:39:30Z\",\"dateModified\":\"2024-06-11T11:11:36Z\"}<\/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\/12\/iStock-877508718.jpg?fit=1254%2C836","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/569184"}],"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\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=569184"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/569184\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/564359"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=569184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=569184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=569184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}