Caleb Franzen’s Bold Prediction for Bitcoin
Move over Nostradamus, there’s a new predictor in town and his name is Caleb Franzen. This self-proclaimed crypto expert has recently made headlines with his bold prediction that Bitcoin will reach a staggering $175,000. Yes, you read that right – $175,000! But wait, before you start emptying your bank accounts to invest in this digital goldmine, let’s take a closer look at what Mr. Franzen had to say.
In an interview with Thinking Crypto on November 8th (because nothing says credible news source like “Thinking Crypto”), Franzen revealed the reasons behind his unwavering faith in the future of Bitcoin. According to him, it all comes down to some fancy-sounding technical indicators and market signals that only true experts can understand.
Franzen pointed out several factors that might propel Bitcoin to its stratospheric price point including the much-anticipated Bitcoin halving (not as fun as it sounds), potential approval of spot exchange-traded funds (ETFs) and non-recessionary rate cuts. He even threw in something about a “200-day moving average Cloud” just for good measure – because who doesn’t love clouds?
But hold on folks, there’s more! According to our dear friend Caleb, if blanket approvals for ETFs were to happen (whatever those are), we could see a massive price spike leading to a $20,000 candle. And no, he wasn’t talking about celebrating with an expensive scented candle; he was referring to yet another mind-boggling increase in the value of this elusive cryptocurrency.
The Dark Side of Cryptocurrency
Now before you go cashing out your life savings and buying up every last bit of Bitcoin available on the internet (and trust us when we say there isn’t much left), let’s consider some not-so-rosy scenarios painted by our very own doomsday prophet – I mean expert – Mr. Franzen.
He warned against getting too carried away with dreams of Lambos and private islands because apparently there are some pesky little things called recessions that could rain on everyone’s parade faster than you can say “crypto crash.” According to him, if another recession were to rear its ugly head like it did back in 2019-2020 (ah yes, who could forget those glorious times?), we could be looking at a major drop in not just the value of Bitcoin but also other financial assets.
The Golden Cross & Rising SMA – A Match Made In Heaven?
So here we are sitting pretty at around $36K per coin while waiting eagerly for our golden ticket into millionaire territory ($40K mark). The recent surge has been attributed by many experts…well okay maybe just one guy named Caleb…to something called the Golden Cross combined with a rising simple moving average or SMA which sounds more like ingredients from Willy Wonka’s chocolate factory than anything related to finance.
A Golden cross signal combined with the rising SMA presents an increasing long-term trend according to sources. So basically these indicators support current uptrend offering solid basis further growth.
Featured image by iShock chart by Tradingview.com
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