Cryptocurrency analysts predict potential growth of bitcoin to $ 45,000

Analysts in the digital asset industry emphasize that the spread of false information about the Bitcoin ETF-BTC has provoked a significant increase in the value of the crypto asset. In particular, on the Binance platform, the price of BTC rose from $ 27,883 to $ 30,000 in just 30 minutes.

on October 23, the flagship cryptocurrency was trading at $ 30,697, up 2.02% per day. The total supply of coins on the market amounted to $ 599.3 billion, and traders made daily trading deals worth $ 14.9 billion. Bitcoin’s dominance in the market amounted to 51.5%. For the first time in a long time, the Fear and Greed Index moved into positive dynamics and amounted to 55 points.

Crypto experts predict an upward momentum for BTC and set ambitious goals for the cryptocurrency. Experts' predictions point to the potential growth of the market flagship to $ 31,500, $ 35,000, and even $ 45,000. It is worth noting that the surge in the BTC price occurs on the eve of an important event — the SEC’s approval of the proposed transactions of exchange-traded funds (ETFs).

The most important levels to watch in the coming days are resistance at $ 30,000 and a potential breakout at $ 31,000. These levels are important for traders and investors because they can indicate the strength of the current upward movement. Successfully breaking through the $ 31,000 level could potentially open the door to even more ambitious Bitcoin price performance.

The current BTC price forecast from CoinCodex suggests that the price of the digital asset will increase by 22.44% and reach $ 36,753 by October 27, 2023. It is worth noting that over the past 30 days, bitcoin had 14 (47%) «green» days, and the price volatility amounted to 3.17%.

As a reminder, analytical company CryptoQuant recently stated that if a spot ETF on bitcoin is approved, the rate of the first cryptocurrency could soar to $ 73,000, and its capitalization could increase by $ 155 billion. Experts note that the first wave of interest from institutional investors came in 2020−2021. That’s when a number of cryptocurrency investors started adding bitcoins to their balance sheets for the first time. The next wave, according to CryptoQuant analysts, may be financial institutions that provide access to bitcoin to their clients through spot ETFs.