Okay, so there is this thing called Bitcoin and some other stuff like Ethereum and Dogecoin. They are called cryptocurrencies because they use special codes to make them work. People buy and sell these things, hoping they will become more valuable in the future. Sometimes, people try to guess when the prices of these digital coins will go up or down using different tools and methods.
A person who goes by Dave the Wave thinks that Bitcoin might reach a very high price in 2025, about $180,000 for one coin! He uses something called Fibonacci extensions to make this guess. Fibonacci is a way of finding numbers that follow a pattern, like a series of steps up or down. Some people believe these patterns can help them predict what might happen with the prices of cryptocurrencies.
Another thing about Bitcoin and other digital coins is that sometimes they get traded on something called an ETF, which stands for exchange-traded fund. This is a way for people to invest in a bunch of different things at once, like a basket of fruits or vegetables. Some new ETFs are starting to trade Bitcoin and other cryptocurrencies, and this might make the prices go up or down depending on how many people want to buy them.
Read from source...
1. The title is misleading and sensationalist. It suggests that the trade of different cryptocurrencies is mixed, but only focuses on BTC ETF activity surging to highest levels since their debut. This implies that other coins are not performing well or have any relevance to the topic, which may not be true.
2. The use of pseudonyms such as "Dave the Wave" and "Tom DeMark" raises questions about the credibility and authority of the sources. It is unclear who these people are and what qualifications they have in the field of cryptocurrency trading or technical analysis.
3. The reliance on TD Sequential theory, LGC indicator, and Fibonacci extensions as predictors of BTC price movements is questionable. These are not widely accepted or scientifically proven methods, but rather subjective tools that can be manipulated to suit any narrative or agenda.
4. The projection of a $180,000 price target for BTC in 2025 is unrealistic and based on arbitrary numbers and assumptions. There is no evidence or logic behind this claim, other than the analyst's personal opinion and desire to create excitement and hype around the coin.
5. The mention of Jim Cramer and Binance at the end of the article seems irrelevant and out of place. It does not add any value or insight to the topic, but rather distracts from the main argument and introduces unrelated issues that may confuse or mislead readers.