{"id":30040,"date":"2023-09-23T14:55:26","date_gmt":"2023-09-23T18:55:26","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=30040"},"modified":"2023-09-23T14:55:26","modified_gmt":"2023-09-23T18:55:26","slug":"new-bitcoin-prediction-analyst-backs-btc-to-reach-34500-in-2024","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/09\/23\/new-bitcoin-prediction-analyst-backs-btc-to-reach-34500-in-2024\/","title":{"rendered":"New Bitcoin Prediction: Analyst Backs BTC To Reach $34,500 In 2024"},"content":{"rendered":"

Bitcoin (BTC) has experienced little price movement this week and is up by only 0.25% in seven days, according to data from CoinMarketCap<\/a>.\u00a0Following the announcement on Wednesday<\/a> that federal interest rates will remain at their current level, the premier cryptocurrency showed the expected reaction, maintaining its price above $27,000.\u00a0<\/p>\n

However, over the last two days, Bitcoin has witnessed a slight price decline of 2%. As the most-priced blockchain asset now hovers around $26,500, crypto analyst Captain Faibik has predicted an incoming bullish run, which may see BTC close out 2023 with impressive gains.\u00a0<\/p>\n

Analyst Says Bitcoin Is Poised For 30% Gain Soon<\/strong><\/h2>\n

On Saturday, Captain Faibik shared on X (formerly Twitter)<\/a> with his 65,000 followers a Bitcoin price forecast. Using data from Tradingview, the analyst stated that Bitcoin is currently experiencing a consolidation in a falling wedge stretching as far back as March 2023.<\/p>\n

According to Faibik, the asset is also likely to remain in this wedge all through October, reaching as low as $23,000. Upon testing this price level, Faibik predicts Bitcoin could experience a price breakout and embark on a strong bullish run.<\/p>\n

$BTC<\/a> continues its Consolidation within the Wedge.<\/p>\n

I anticipate Bitcoin staying within the wedge through October, Possibly testing the 23k area before an upside Breakout.<\/p>\n

34,500 is Programmed in November. #Crypto<\/a> #Bitcoin<\/a> #BTC<\/a> pic.twitter.com\/gjMMZNGrAJ<\/a><\/p>\n

\u2014 Captain Faibik (@CryptoFaibik) September 23, 2023<\/a><\/p>\n\n

To explain, a falling wedge pattern is generally interpreted as a bullish signal. It usually suggests that a bearish trend is losing momentum, and a price reversal could soon occur.\u00a0<\/p>\n

If this pattern holds true in the present Bitcoin market, Captain Faibik predicts Bitcoin could start rising in November, attaining a price of $34,500 in January 2024. Such price gain would mark a 30% increase in Bitcoin\u2019s current price.\u00a0<\/p>\n

As usual, there are no guarantees no this prediction as the crypto market is subject to various factors. Investors are advised to conduct proper personal research before making investment decisions.<\/p>\n

Bitcoin Non-Whales Attain New Levels Of Market Supply<\/strong><\/h2>\n

In other news, Bitcoin non-whales, defined generally as addresses holding under 100 BTC, have increased their total holdings in the BTC market.\u00a0<\/p>\n

According to data from Santiment<\/a>, these wallet addresses have acquired 2.4% of BTC\u2019s supply from October 2022 and now account for an all-time high value of 41.1% of Bitcoin\u2019s available supply.\u00a0<\/p>\n

On the other hand, BTC whales, defined as addresses holding 100-100,000 BTC, have dumped 0.9% of BTC since early June and now account for 55.5% of BTC\u2019s available supply, their lowest level of market dominance since May.\u00a0<\/p>\n

At the time of writing, BTC now trades at around $26,574, with a 0.07% decline in the last day. The token\u2019s daily trading volume is also down by 29.95% and is valued at $9.17 billion. With a market cap of $517.19 billion, Bitcoin retains its spot as the largest cryptocurrency in the market.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin (BTC) has experienced little price movement this week and is up by only 0.25% in seven days, according to data from CoinMarketCap<\/a>.\u00a0Following the announcement on Wednesday<\/a> that federal interest rates will remain at their current level, the premier cryptocurrency showed the expected reaction, maintaining its price above $27,000.\u00a0<\/p>\n

However, over the last two days, Bitcoin has witnessed a slight price decline of 2%. As the most-priced blockchain asset now hovers around $26,500, crypto analyst Captain Faibik has predicted an incoming bullish run, which may see BTC close out 2023 with impressive gains.\u00a0<\/p>\n

Analyst Says Bitcoin Is Poised For 30% Gain Soon<\/strong><\/h2>\n

On Saturday, Captain Faibik shared on X (formerly Twitter)<\/a> with his 65,000 followers a Bitcoin price forecast. Using data from Tradingview, the analyst stated that Bitcoin is currently experiencing a consolidation in a falling wedge stretching as far back as March 2023.<\/p>\n

According to Faibik, the asset is also likely to remain in this wedge all through October, reaching as low as $23,000. Upon testing this price level, Faibik predicts Bitcoin could experience a price breakout and embark on a strong bullish run.<\/p>\n

$BTC<\/a> continues its Consolidation within the Wedge.<\/p>\n

I anticipate Bitcoin staying within the wedge through October, Possibly testing the 23k area before an upside Breakout.<\/p>\n

34,500 is Programmed in November. #Crypto<\/a> #Bitcoin<\/a> #BTC<\/a> pic.twitter.com\/gjMMZNGrAJ<\/a><\/p>\n

\u2014 Captain Faibik (@CryptoFaibik) September 23, 2023<\/a><\/p>\n

To explain, a falling wedge pattern is generally interpreted as a bullish signal. It usually suggests that a bearish trend is losing momentum, and a price reversal could soon occur.\u00a0<\/p>\n

If this pattern holds true in the present Bitcoin market, Captain Faibik predicts Bitcoin could start rising in November, attaining a price of $34,500 in January 2024. Such price gain would mark a 30% increase in Bitcoin\u2019s current price.\u00a0<\/p>\n

As usual, there are no guarantees no this prediction as the crypto market is subject to various factors. Investors are advised to conduct proper personal research before making investment decisions.<\/p>\n

Bitcoin Non-Whales Attain New Levels Of Market Supply<\/strong><\/h2>\n

In other news, Bitcoin non-whales, defined generally as addresses holding under 100 BTC, have increased their total holdings in the BTC market.\u00a0<\/p>\n

According to data from Santiment<\/a>, these wallet addresses have acquired 2.4% of BTC\u2019s supply from October 2022 and now account for an all-time high value of 41.1% of Bitcoin\u2019s available supply.\u00a0<\/p>\n

On the other hand, BTC whales, defined as addresses holding 100-100,000 BTC, have dumped 0.9% of BTC since early June and now account for 55.5% of BTC\u2019s available supply, their lowest level of market dominance since May.\u00a0<\/p>\n

At the time of writing, BTC now trades at around $26,574, with a 0.07% decline in the last day. The token\u2019s daily trading volume is also down by 29.95% and is valued at $9.17 billion. With a market cap of $517.19 billion, Bitcoin retains its spot as the largest cryptocurrency in the market.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-30040","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/30040","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=30040"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/30040\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=30040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=30040"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=30040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}