“Embrace the opportunity, be ambitious, and ride the wave of Bitcoin’s potential as a crypto influencer encourages: Be greedy, not fearful.”
Crypto influencer CryptosRUs recently shared his bullish outlook for Bitcoin in a livestream video. He pointed to the golden cross formation on the daily chart as a major technical indicator suggesting that Bitcoin is in a long-term bull market. The golden cross occurs when a short-term moving average crosses above a long-term moving average, signaling an uptrend.
CryptosRUs believes that this golden cross could last until 2025, based on historical patterns. He also discussed the potential for Bitcoin to break $35,000 soon, stating that if it does, there could be a short squeeze and a break above $37,000.
On the fundamental side, CryptosRUs highlighted that major asset managers BlackRock and VanEck appear close to seeding their spot Bitcoin exchange-traded funds (ETFs). He speculated that BlackRock may start buying Bitcoin for its ETF by the end of October in anticipation of a potential spot Bitcoin ETF approval in November.
If spot Bitcoin ETFs are approved by the SEC, CryptosRUs believes it could trigger an influx of institutional capital into Bitcoin and crypto markets. This would serve as a catalyst to propel Bitcoin to new highs by the end of the year, with price targets of $40,000 to $50,000.
Overall, CryptosRUs expressed an overwhelmingly bullish outlook on Bitcoin, both in the near-term and long-term, based on positive technical indicators and growing institutional adoption. He advised viewers to remain greedy rather than fearful during the current market conditions.
In conclusion, the sentiment around Bitcoin remains positive, with technical indicators and institutional adoption supporting a bullish outlook. Investors are advised to stay optimistic and take advantage of the current market conditions.
