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A trader, known only by their pseudonym Bluntz, is one of the most respected Bitcoin analysts on the market.
He nailed the bottom of the 2018 bear market and now he’s sharing insights on Bitcoin’s potential climb to $60,000. Bluntz, who’s got quite a following on X (*previously Twitter), is talking about Bitcoin being in a ‘wave three rally’.This is based on Elliott Wave theory, a method in technical analysis that studies crowd psychology in market trends. According to this theory, a bullish asset, like Bitcoin, experiences a five-wave uptrend, with the third wave typically being the largest surge.
We’ll examine Bluntz’s prediction in more detail and show you some Bitcoin derivatives that hold great potential for gains alongside Bitcoin.
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Other Experts Are Backing Bluntz’s Prediction & 3 Other Cryptos With 20X Potential
Bluntz speculates that we’re currently in this extended third wave. He’s not alone in this view; another analyst, Credible Crypto, seems to share this opinion.
As per Bluntz’s chart, Bitcoin is expected to hit $50,000 at the end of this wave, then drop to around $42,500 in a ‘wave four correction’, before surging up to $60,000 in the fifth and final wave, all potentially before September 2024.
At the moment, Bitcoin is trading at about $38,362.
Bitcoin is not the only one expected to pump in the upcoming period. Numerous Bitcoin iterations will most likely grow along with it. There are at least 50 BTC clones, so it’s hard to predict which one has true potential…
That’s why we’ve done some digging and found these 3 coins backed by crypto influencers like Jacob Crypto Bury and Michael Wrubel.
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Bitcoin ETF (BTCETF) – New Presale Raises $1.9 M in Less Than a Month
Bitcoin ETF Token ($BTCETF) is an Ethereum-based token that has garnered significant attention due to its unique reward system tied to the expected approval and launch of Bitcoin Spot ETFs. In just three weeks of its presale launch, it managed to raise over $1.9 million, demonstrating strong community support and investor trust.
One standout feature of $BTCETF is its staking mechanism, offering an impressive Annual Percentage Yield (APY) of over 135% for early participants. This incentivizes early adoption, although it’s important to note that the APY decreases as more tokens are staked during the presale.
To ensure long-term growth and stability, $BTCETF has allocated 25% of its total token supply for staking rewards, distributed over five years.
What sets Bitcoin ETF Token apart is its innovative deflationary model, known as the Dynamic Token Burn System.
This system is designed to adaptively respond to significant developments in the Bitcoin ETF sector, with milestone burns triggered by specific industry events.
The presale of $BTCETF is divided into ten stages, each offering a consistent supply distribution to ensure fairness. The tiered pricing strategy incentivizes early participation, aiming to improve the token’s valuation over time.
Investors interested in participating in the presale can acquire $BTCETF tokens using various cryptocurrencies or traditional card payments.
With its unique reward system, deflationary model, and strategic approach, Bitcoin ETF Token positions itself as an attractive opportunity for those looking to capitalize on the expanding crypto-ETF industry.
Many experts predict that the BTCETF token will explode in value alongside the original BTC.
Bitcoin Minetrix ($BTCMTX) – BTC Mining Will be Available to Everyone
Bitcoin Minetrix is introducing a new and simplified approach to Bitcoin mining, garnering significant attention in the cryptocurrency sector.
This innovative solution, built on the Ethereum blockchain, aims to democratize Bitcoin mining, making it accessible to a broader audience.
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Bitcoin Minetrix eliminates the need for extensive technical expertise or substantial initial investment. By purchasing Bitcoin Minetrix tokens, identified as $BTCMTX, and staking them, users can seamlessly participate in Bitcoin mining and start earning Bitcoin.
One of the notable advantages of Bitcoin Minetrix is its environmentally friendly and space-efficient approach. Unlike traditional mining methods, which often involve loud machinery and significant physical space, Bitcoin Minetrix operates entirely through cloud computing, offering a quieter and more sustainable alternative.
The project has quickly captured the interest of investors, as evidenced by the substantial sum of over $4.2 million raised during the initial months of its presale. The structure of the presale, with its capped limit and distinct stages, creates a sense of urgency among potential investors, encouraging early participation.
As Bitcoin Minetrix continues to evolve, it presents a unique opportunity for individuals to engage with Bitcoin mining in a more accessible and eco-friendly manner. But hurry up, at this rate, BTCMTX will be sold out before you even get the time to think!
Bitcoin SV (BSV) – Coinbase Drops Support for BSV But it Can Recover
Bitcoin SV (BSV), also known as Satoshi’s Vision, is currently facing a challenging situation. This cryptocurrency, which emerged from a hard fork of Bitcoin Cash in November 2018, is known for its controversial origins and claims by its supporters to be the “original Bitcoin.”
Adding to its challenges, Coinbase, one of America’s largest cryptocurrency exchanges, has decided to fully withdraw its support for BSV. This decision, announced more than two years after BSV was delisted from trading on Coinbase, was driven by concerns over the blockchain’s stability, primarily due to a “51% attack” that the network suffered.
Coinbase has set a deadline of January 9, 2024, for users to withdraw their BSV funds, after which the remaining BSV will be liquidated.
This move by Coinbase was not entirely unexpected, but it resulted in a slight decrease in BSV’s value, dipping below $50 shortly after the announcement. However, if the original BTC prediction comes true, we can realistically expect BSV to pump along with it
Conclusion
There you have it, as you can see, we can expect a new bull market to start soon, especially with the upcoming ETF approvals and the halving event.
Bluntz’s forecast for Bitcoin’s rise to $60,000, underpinned by Elliott Wave theory, paints an optimistic picture of BTC’s future.
The spotlight also shines on promising projects like Bitcoin ETF Token ($BTCETF) and Bitcoin Minetrix ($BTCMTX), each bringing unique features and attracting significant investor interest.
Despite challenges like Bitcoin SV’s (BSV) recent struggles, the overarching sentiment in the crypto market remains one of opportunity and growth, with various projects and predictions offering diverse ways for investors to engage and potentially benefit.
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