{"id":86420,"date":"2023-10-31T17:19:24","date_gmt":"2023-10-31T15:19:24","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=86420"},"modified":"2025-09-13T05:29:38","modified_gmt":"2025-09-13T02:29:38","slug":"experts-point-to-potential-for-bitcoins-continued-growth","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/experts-point-to-potential-for-bitcoins-continued-growth\/","title":{"rendered":"Experts point to potential for Bitcoin\u2019s continued growth"},"content":{"rendered":"<p>Bitcoin confirmed the formation of a &#8216;golden cross&#8217; signal, which implies the development of an uptrend. This was noted by market analyst Adrian Zdu\u0144czyk.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">? <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> &#8220;GOLDEN CROSS&#8221; CONFIRMED <a href=\"https:\/\/t.co\/eFnzHH9YK6\">pic.twitter.com\/eFnzHH9YK6<\/a><\/p>\n<p>\u2014 Adrian Zdu\u0144czyk, CMT (@crypto_birb) <a href=\"https:\/\/twitter.com\/crypto_birb\/status\/1719027906582577481?ref_src=twsrc%5Etfw\">October 30, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to MN Trading founder Micha\u00ebl van de Poppe, investors are preparing for a new impulse of growth. This is indicated by the decline in volatility. After breaking above the resistance, the trader expects to see movement toward $37,000. He recommended buying on dips to the lows of the current consolidation.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> still fighting the range resistance.<\/p>\n<p>Breaking above, and I think we&#8217;ll see $37K.<\/p>\n<p>Overall, volatility starts to slow down, consolidation period before another impulse. <\/p>\n<p>Range lows are still entries. <a href=\"https:\/\/t.co\/OR6TZVPMEx\">pic.twitter.com\/OR6TZVPMEx<\/a><\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1719017249258762728?ref_src=twsrc%5Etfw\">October 30, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In case of a deeper correction, the expert advised buying more in the <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-the-bitcoin-halving\">halving<\/a> range of $32,500\u201333,000.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> is still stuck in a range, which means that a renewed test of the range high is going to lead to a breakout.<\/p>\n<p>I&#8217;m targeting $36.5-37K for that.<\/p>\n<p>Continuing downwards? Sure, then I&#8217;m interested in longs around $32.5-33K. <a href=\"https:\/\/t.co\/7po0Kf7zJc\">pic.twitter.com\/7po0Kf7zJc<\/a><\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1719266819305775117?ref_src=twsrc%5Etfw\">October 31, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As for medium-term prospects, LookIntoBitcoin founder Philip Swift identified the following targets: $41 900 and $65 050. According to the expert, after the price cleared the $34 000 level, an early phase of the bull market began.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> for the next year. <a href=\"https:\/\/t.co\/vevV0cjLq1\">pic.twitter.com\/vevV0cjLq1<\/a><\/p>\n<p>\u2014 Philip Swift (@PositiveCrypto) <a href=\"https:\/\/twitter.com\/PositiveCrypto\/status\/1719288624594800748?ref_src=twsrc%5Etfw\">October 31, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The advisor at Tether and VanEck, as well as founder of Pointsville, Gabor Gurbacs, cited increasing institutional presence as the main driver of further growth. This is evidenced by rising open interest in Bitcoin futures on the <span data-descr=\"Chicago Mercantile Exchange\" class=\"old_tooltip\">CME<\/span>.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">CME is about to flip Binance as the largest exchange with respect to Bitcoin futures open interest. Institutions are here\u2026 and it&#8217;s just getting started. The physical markets will catch up. <a href=\"https:\/\/t.co\/uPY0HRsoso\">pic.twitter.com\/uPY0HRsoso<\/a><\/p>\n<p>\u2014 Gabor Gurbacs (@gaborgurbacs) <a href=\"https:\/\/twitter.com\/gaborgurbacs\/status\/1719036078944915498?ref_src=twsrc%5Etfw\">October 30, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The Galaxy Digital research chief Alex Thorn<a href=\"https:\/\/blockworks.co\/news\/bitcoin-momentum-short-squeeze\"> predicted<\/a> a new wave of <a href=\"https:\/\/u1f987.com\/en\/news\/glassnode-bitcoin-clears-a-string-of-key-resistance-levels\">short squeezes<\/a> if the price of Bitcoin reaches the $35,750-36,000 area. According to his calculations, dealers would have to increase longs by $20 million for every 1% move higher.<\/p>\n<p>This could occur due to a drop in <a href=\"https:\/\/www.investopedia.com\/terms\/g\/gamma.asp\" title=\"\">gamma<\/a>, which, in the event of a rise in the spot price, would force options-market participants to increase purchases of coins to maintain <a href=\"https:\/\/www.investopedia.com\/terms\/d\/deltahedging.asp\" title=\"\">delta hedging<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">the <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoin<\/a> gamma squeeze from last week could happen again ?<\/p>\n<p>if BTCUSD moves higher to $35,750-36k, options dealers will need to buy $20m in spot BTC for every 1% upside move, which could cause explosiveness if we begin to move up towards those levels<\/p>\n<p>more ? <a href=\"https:\/\/t.co\/OA9tJ0ZaK9\">pic.twitter.com\/OA9tJ0ZaK9<\/a><\/p>\n<p>\u2014 Alex Thorn (@intangiblecoins) <a href=\"https:\/\/twitter.com\/intangiblecoins\/status\/1718789234398556416?ref_src=twsrc%5Etfw\">October 30, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Trader Rekt Capital turned out not to be so optimistic. Based on his chart, on the eve of <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-the-bitcoin-halving\">halving<\/a> in March 2024, the depth of a possible decline looks greater than the continuation of the rally.<\/p>\n<p>After the miner rewards are halved, the specialist expects consolidation in the $24,000\u201330,000 range and only then a move to a parabolic rise toward six-figure levels. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&#038;ref_src=twsrc%5Etfw\">#BTC<\/a> <\/p>\n<p>Major Bitcoin Checkpoints: <\/p>\n<p>1. Pre-Halving period (orange) <\/p>\n<p>2. Pre-Halving rally (light blue) <\/p>\n<p>3. Pre-Halving retrace (dark blue circle) <\/p>\n<p>4. Post-Halving resistance (red) <\/p>\n<p>5. Post-Halving parabola (green)<a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#Crypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoin<\/a> <a href=\"https:\/\/t.co\/FLpfuzsCtU\">pic.twitter.com\/FLpfuzsCtU<\/a><\/p>\n<p>\u2014 Rekt Capital (@rektcapital) <a href=\"https:\/\/twitter.com\/rektcapital\/status\/1719287185952686104?ref_src=twsrc%5Etfw\">October 31, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As a reminder, analyst and head of Factor LLC Peter Brandt urged Bitcoin traders to <a href=\"https:\/\/u1f987.com\/en\/news\/peter-brandt-urges-bitcoin-traders-to-brace-for-a-chop-fest\">prepare for a &#8216;slugfest&#8217;<\/a>.<\/p>\n<p>Earlier, Glassnode analysts pointed to Bitcoin breaking through <a href=\"https:\/\/u1f987.com\/en\/news\/glassnode-bitcoin-clears-a-string-of-key-resistance-levels\">key barriers<\/a> near $28,000 for both technical and on-chain reasons.<\/p>\n<p>Prior to this, experts, based on assessments of capital movement between hodlers and speculators, concluded that the current structure of the market for the first cryptocurrency bears similarities to <a href=\"https:\/\/u1f987.com\/en\/news\/analysts-outline-features-of-bitcoin-price-recovery\">the recovery phase after bear-market dominance<\/a> in 2016 and 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin confirmed the formation of a &#8216;golden cross&#8217; signal, which implies the development of an uptrend. This was noted by market analyst Adrian Zdu\u0144czyk.<\/p>\n","protected":false},"author":1,"featured_media":86421,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1145,1150,1138,1253],"class_list":["post-86420","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-market-analysis","tag-news-plus","tag-opinions","tag-technical-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/86420","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=86420"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/86420\/revisions"}],"predecessor-version":[{"id":86422,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/86420\/revisions\/86422"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/86421"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=86420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=86420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=86420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}