Bitcoin Price To Hit $50,000 Says Renowned Crypto Analyst

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