Bitwise says BTC will hit $80,000 with a new ATH next year as this Bitcoin ETF themed coin closes at $4 million.

The price of Bitcoin has surged 4% over the past 24 hours, trading at $42,835 as of 5:20 a.m. ET, with trading volume up 5.5% to $24.9 billion.

The rise comes as Bitwise predicts the king of cryptocurrencies will hit an all-time high of $80,000 next year, driven by the launch of the BTC ETF and the halving.

Bitcoin price prediction

Despite last week’s price drop, Bitcoin is still up 18% for the month and 141% higher than a year ago.

As for the coin’s near-term performance, the price seems hesitant to make another rally after reaching the $44,000 resistance and then being rejected.

To date, the coin has recovered to just under $43,000, but it appears to lack motivation to overcome this level.

Nonetheless, the long-term performance remains optimistic and was confirmed after the coin held on to the $41,000 support level.

As long as Bitcoin stays above the $41,000 support, there remains a chance it could return to $44,000 and potentially surpass it.

On the other hand, some technical indicators show that the price is struggling to rise, so it is possible that the coin will test support again soon.

Specifically, the coin’s RSI score shows it is in overbought territory, and its Bollinger Bands are narrower than at any point over the past four days.

Both are bearish signals, which suggest that BTC is likely to be rejected by the resistance levels between $43,000 and $44,000 and possibly retest support at $41,000.

Bitcoin Price: A Promising Alternative to BTC

A current presale with great potential for investors seeking diversification or seeking higher short-term gains is the Bitcoin ETF Token (BTCETF).

The project is designed to take immediate advantage of Bitcoin ETF approval. This sets a series of milestones that will reward BTCETF holders.

The token closed on $4 million raised in a pre-sale and is selling for $0.0068.

@Conio team up @Coinbase Expanding digital asset offerings for Italian banks with plans to support up to 50 #token Until 2023.

European Embrace #Cryptocurrency Through initiatives such as the Crypto Asset Regulated Markets. 🌍

Which digital assets do you think will gain traction next? pic.twitter.com/DPg0m5yJQB

— BTCETF_Token (@BTCETF_Token) December 11, 2023

Those interested in purchasing the token can exchange it for ETH or USDT. Alternatively, you can purchase via credit or debit card.

To purchase BTCETF, visit the official website here.

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