Bitcoin Price To Hit $50,000 Says Renowned Crypto Analyst
Adekunle Joshua
Renowned crypto analyst Markus Thielen, who recently predicted a $38,000 Bitcoin bottom, believes that BTC could soon cross $50,000
He also anticipates that Bitcoin's demand will surge as a result of the halving event slated for April 2024
Thielen's analysis is based on the Elliott wave theory, which proposes that price movements take place in multiple waves, such as three and five-wave patterns, where each wave represents a pair of high and low price levels
There could be a surge in BTC because the GBTC and FTX selloff seems to be coming to an end
Additionally, technical indicators also confirm an upcoming BTC price move
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