A new Bitcoin price prediction suggests that the flagship cryptocurrency needs just one more leg up to kickstart a powerful bullish move toward $150,000 and beyond. With Bitcoin getting ready to once again hit new all-time highs, technical formations suggest that this projected rally could be the final confirmation of a long-term breakout.  

Bitcoin Price Roadmap To $150,000 ATH

A new Bitcoin price analysis released by market expert CrediBull Crypto on X (formerly Twitter) predicts that BTC is gearing up for a massive surge to $150,000. The analyst shared a Bitcoin price chart, using Elliott Wave theory on the lower time frames to break down the roadmap to this new all-time high target. 

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Bitcoin is currently forming a 5-wave impulse move on the lower timeframe. The recent price action suggests that it has completed sub-waves i, ii, iii, iv, and v, collectively forming what appears to be Wave 1. Following this, the cryptocurrency experienced a collective pullback in Wave 2, which acted as support and now serves as a launchpad for the next major leg in Wave 3—the longest and most explosive wave in an impulse sequence.  

If the next wave completes to the upside, it would strongly suggest that Bitcoin is not in a corrective pattern but rather an impulsive trend that could take it to a six-figure valuation once again. 

CrediBull Crypto has highlighted $89,000 as a critical level for Bitcoin. He suggested that if the cryptocurrency drops below this price zone before pushing higher, the Elliott Wave structure would likely morph into a 3-legged corrective pattern rather than a 5-wave impulse. This move would imply that the projected rally is not the start of a macro breakout, and the market may have to wait longer for a confirmation. 

On the other hand, holding above $89,000 and printing a higher high would complete the anticipated final leg up, validating the start of the large Wave 3 on higher time frames. This bullish scenario would support a strong accumulation strategy, where price declines could become opportunities to buy as Bitcoin targets $150,000 or more. 

MVRV Golden Cross Signals BTC Bull Rally

Bitcoin’s Market Value to Realized Value (MVRV) ratio has formed a Golden Cross with its 365-day Simple Moving Average (SMA), according to fresh data shared by crypto analyst Ali Martínez. The analyst has shared an optimistic outlook for Bitcoin, highlighting that this technical event could spark the next BTC bull rally. 

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The Bitcoin chart, published via CryptoQuant, highlights the MVRV ratio surging above the long-term Moving Average. A rising MVRV ratio typically suggests that BTC holders are once again in profit, and sentiment is shifting from bearish to bullish. The last time this crossover occurred, Bitcoin saw a multi-month rally that pushed its price to new all-time highs.

Featured image from Pixabay, chart from Tradingview.com

According to Bloomberg, in a key development for the cryptocurrency industry, the US Securities and Exchange Commission (SEC) is reportedly set to allow the launch of exchange-traded funds (ETFs) based on Ethereum (ETH) futures.

This move marks a significant win for numerous firms that have long sought to introduce such products. While the SEC has previously hesitated to approve ETFs directly tied to cryptocurrencies, the decision to greenlight an Ethereum futures ETF could have profound implications for Ethereum’s classification as a non-security. 

This development also holds potential ramifications for other cryptocurrencies, as the SEC’s stance on where the line between security and non-security lies becomes a subject of litigation.

Ethereum Paradigm Shift

According to Bloomberg’s report, sources familiar with the matter claim the SEC is unlikely to block the ETFs based on futures contracts for Ethereum, which is currently the second-largest cryptocurrency by market capitalization. 

Nearly a dozen companies, including prominent names like Volatility Shares, Bitwise, Roundhill, and ProShares, have filed applications to launch these ETFs. While it remains unclear which funds will receive approval, insiders suggest that several may be granted the green light as early as October.

This anticipated approval of an Ethereum futures ETF by the SEC could have far-reaching implications for the regulatory treatment of cryptocurrencies. 

The SEC’s reluctance to approve ETFs directly tied to cryptocurrencies has spurred speculation that derivative-based products would offer a potential pathway to market access. 

On this matter, crypto analyst Adam Cochran has highlighted that the SEC potentially approving an ETF based on Ethereum futures contracts implicitly acknowledges that Ethereum itself is not considered a security. 

This decision challenges the notion that Ethereum should be regulated as a traditional financial security, considering its proof-of-stake mechanism, purpose, and usage.

Cochran further believes that the SEC’s approval of an Ethereum futures ETF bolsters Ethereum’s non-security status and sets a precedent that could impact other cryptocurrencies facing regulatory scrutiny. 

The ongoing legal battle between the SEC and Grayscale Investments over rejecting their Bitcoin trust’s conversion into an ETF highlights the agency’s concerns regarding investor protection, manipulation risks, and price volatility. 

However, this approval could provide a compelling argument in favor of distinguishing between the underlying asset and how it is sold, bolstering the Torres Doctrine and potentially influencing the outcome of similar cases, such as the XRP appeal.

The SEC’s approval of an Ethereum futures ETF holds tremendous significance for the cryptocurrency industry. If confirmed, it would mark a pivotal moment for Ethereum’s classification as a non-security, further solidifying its position as a commodity or currency. 

The decision also highlights the regulatory challenge of defining clear boundaries between securities and non-securities in crypto. 

As the industry evolves, approving an Ethereum futures ETF could shape the regulatory landscape, paving the way for increased adoption and investment opportunities in the cryptocurrency market.

However, the news is not entirely favorable for ETH as it trades at $1,660, following a downward trend similar to Bitcoin and the overall cryptocurrency market. The market has experienced a substantial outflow of liquidity, leading to a significant decline in most digital currencies.

Over the past 24 hours, ETH has declined more than 4% after breaking its previously established range between $1,895 and $1,830. Additionally, it has suffered a notable loss of 10% within the seven-day timeframe.

Featured image from iStock, chart from TradingView.com

Wifecoin or Wifedoge , the cryptocurrency considered to be the “wife” and clone of Dogecoin (DOGE), has significantly increased its market capitalization. It jumped over 3,000% in a single day, according to statistics from CoinMarketCap . Elon Musk’s support has something to do with it, but is it for as much that it is appropriate to invest in this digital asset? (Also Read: JPMorgan analyzed the current position of Bitcoin (BTC) and other cryptocurrencies)

Elon Musk , a pillar of Wifedoge’s growth  ?

On Tuesday the 31st, the Wifedoge successfully traded the market cap of $ 2.32 million , which corresponds to a good of 3,294.29%. However, the DOGE “wife” failed to stay the course. On Thursday, September 2, its market capitalization fell to $ 301,406. (Must Read: Cheap electricity attracts Bitcoin (BTC) miners to Venezuela)

Wifecoin is a cryptocurrency that appears to be a parody of Dogecoin which, too, was launched with the aim of parodying Bitcoin (BTC). Its creators ensure that the value of each Wifecoin token will be equivalent to that of Dogecoin (DOGE). This is great news for investors, considering that DOGE has increased its value by 4,600% in just one year. Moreover, Elon Musk and Mark Cuban consider it to be the “strongest” cryptocurrency.

1 WIFEDOGE = 1 DOGECOIN#wifedoge #dogecoin https://t.co/5SMfgSy02P pic.twitter.com/zrxqxfsvqr

— WIFEDOGE (@wifedoge) August 3, 2021

The creators of Wifecoin have also announced that they will reserve 5% of the Wifedoge units for Elon Musk . “We will give them to you at the right time, otherwise 5% of the tokens will be blocked forever,” read a tweet from the Wifecoin account .

WIFEDOGE PRESALE START ON DXSALEhttps://t.co/6g7nlv8sll

Reserve 5% of the tokens for Elon Musk. Give it to him at the right time, otherwise the 5% of the tokens will be forever. Locked#bsc #wifedoge #dogecoin pic.twitter.com/oX1IHFcMpC

— WIFEDOGE (@wifedoge) July 11, 2021

Why such a generous gesture on the part of the creators of the cryptocurrency? They are hoping that this “meme of the meme” will gain the support of Elon Musk , whose opinion plays on the price of digital assets. While waiting for him to draw attention to the “wife” of DOGE, the creators of Wifecoin wanted to express their gratitude on Twitter .

“Thanks Elon Musk. I am Wifedoge. Doge’s wife! Now is the fourth day of launch on Pancakeswap! Thanks for tweeting to support Wifedoge. Trust us, we will soon surprise global investors even more. Our team works hard, ” read another tweet.

Thank you Elon Musk I’m Wifedoge. Doge’s wife! Now is the fourth day of launch at Pancakeswap! Thank you for tweeting to encourage Wifedoge Believe us, we will soon surprise global investors even more. Our project team is working hard#wfiedoge #dogecoin #doge #PancakeSwap pic.twitter.com/HAwvYKDjA7

— WIFEDOGE (@wifedoge) July 25, 2021

Investing in Wifedoge , a good plan?

Should you invest in the Wifedoge  ? This is the question investors are asking themselves. The experts have a positive response. At least they argue that the vertiginous ‘ups and downs’ of digital assets are caused by the fraudulent manipulation of the cryptocurrency market , which causes a lot of people to lose money.

“The sharp rises and falls in the price of assets with low liquidity are often the result of fraudulent manipulations known as ‘pump and dump’ which consist in inflating their value and then selling it at overvalued prices. The lack of regulation in the cryptocurrency market means that many investors fall victim to this scheme, ” RT said.

The choice of whether or not to invest in Wifedoge is purely and strictly personal , as is also the case for all other cryptocurrencies. If you want to invest, invest only what you can afford to lose . This is one way to protect against fluctuations in digital assets. Either way, owning cryptocurrencies, which can skyrocket in value by over 3,000% in 24 hours, is always beneficial.

Wifecoin , the “wife” of Dogecoin (DOGE) continues to make headlines in the cryptocurrency world. Supported by Elon Musk and Mark Cuban , DOGE has gained strong popularity and increased in value. It seems that his “wife” will follow the same path. Meanwhile, within 24 hours, its market capitalization increased to 3,294.29%.