After the rise seen in the price of Bitcoin this week, investors are wondering whether the upward trend will continue. BTC is currently trading above $52,000 with an approximately 2% increase in the last 24 hours. The 24-hour trading volume has exceeded $40 billion.
While the upward movement in Bitcoin continues, prominent crypto analysts are sharing their predictions. In a recent analysis, Titan of Crypto shared predictions for Bitcoin in a post on X, beginning with ‘$55,400 could be next!’
#Bitcoin $55,400 could be next ! 💥🚀
As I’ve been asked a lot what is next for #BTC in the comments. Here’s my analysis. Bookmark it. 🔖
Both target 1 & 2 have been hit but $50,900 is a strong level. If Bitcoin manage to close a weekly candle above, target 3 at $55.4k is next.… pic.twitter.com/Ntydk07jaJ
— Titan of Crypto (@Washigorira) February 14, 2024
According to the analyst, if the weekly candle for Bitcoin manages to close above $50,900, the next target is $55,400. However, the analyst also emphasizes that the $50,900 level is very strong.
Although the analyst predicts that the target will be achieved with the weekly candle closing above $50,900, he also mentioned that the $55,400 price target could be reached even before the weekend. In a previous prediction, the analyst set price targets for BTC at $48,800 and $50,900.
Another famous analyst and founder of MN Trading, Michaël van de Poppe, shared his views on Bitcoin on X. Poppe does not specify a clear price target for Bitcoin, but his words indicate an expectation of an upward movement. Poppe uses the term “super bullish” for Bitcoin in his post, signaling that the upward trend will continue.
The inflow in the ETF is great for #Bitcoin.
However, it’s not the sole argument for the markets to move.
If I look at this clean chart, it suggests that we’re:
– Super bullish.
– Slightly overheated.I wouldn’t be unhappy if we got a slight correction to return to reality. pic.twitter.com/ZNnoNQGeeK
— Michaël van de Poppe (@CryptoMichNL) February 15, 2024
However, Poppe, in addition to this expectation of an upward movement, mentions that he would not be unhappy if there is a price correction in BTC. According to the renowned analyst, a price correction before the continuation of the upward trend would be healthy.
In addition to these statements, Poppe draws attention to the inflow of money into spot Bitcoin ETFs, expressing that this is great. Spot Bitcoin ETFs saw more than $339 million in net inflows on February 14th. On February 13th, this figure was recorded at the level of $631 million.
On Wednesday, February 14th, BlackRock led the Bitcoin ETF market with an inflow of $234 million. Outflows from Grayscale slowed down, and a net outflow of $131 million was observed. Following BlackRock, Fidelity Bitcoin ETF had the second-highest inflow with $118 million.
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