[2023-11-17] Analysts Forecast Bitcoin Surging to $45,000 by Year-End 2023

[hungtm156]

Markus Thielen, Head of Research at Matrixport, notes a rising demand for bullish bets, particularly appealing to market makers, potentially driving significant Bitcoin growth. Decreasing U.S. inflation and expectations of Fed interest rate cuts further support a bullish outlook. Recent indications show a notable slowdown in inflation from the peak of 9.1% in June last year, leading UBS to suggest a potential halving of the benchmark interest rate to 2.75% by the Fed.

Additionally, Wall Street's positive stance on spot ETFs could bolster Bitcoin. Bloomberg researchers estimate a 90% likelihood of SEC approval for one or more spot ETFs before January 10, potentially acting as a market catalyst.

Read the full article here: https://coinminutes.com/btc/analysts-forecast-bitcoin-surging-to-45000-by-year-end-2023/

[chmod755]

Additionally, Wall Street's positive stance on spot ETFs could bolster Bitcoin. Bloomberg researchers estimate a 90% likelihood of SEC approval for one or more spot ETFs before January 10, potentially acting as a market catalyst.

Good news 

Bull market soon?

[darkangel11]

I think that he's overestimating the bulls here, but I hope that he's right. IMO the Street will do all in its power to keep bitcoin's price low before they get the green light from the SEC. They're too afraid to go all in before the decision and they want to buy as cheap as possible after it, which is why the price is still low for what thee predictions about the ETF are.

I hope he's right. I'd love to see the faces of short sellers who still wait for sub 16k bitcoin when we get to 40k.

[cr1776]

Short term forecasts are always a challenge and this is no exception.  Is 45k likely?  Yes.  By the end of the year?  Who knows.  It is really just a guess.  There are plenty of catalysts going forward, but with the exception of the halving, the timing is wide open.

[Kakmakr]

It is always so funny when these analysts suck future prices out of their thumbs.  Yes, IF the ETF is approved, demand for Bitcoin might increase... but what happens if something else goes wrong and it cause the opposite affect?

We know negative news has a much bigger affect on the price, so it just takes one small hack or one politician making some shitty comment for the price to go down again.

Let's just keep buying... and what will happen... will happen.