{"id":30077,"date":"2023-09-25T11:52:44","date_gmt":"2023-09-25T15:52:44","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=30077"},"modified":"2023-09-25T11:52:44","modified_gmt":"2023-09-25T15:52:44","slug":"crypto-analyst-says-prepare-for-100-increase-in-bitcoin-price-as-historical-pattern-forms","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/09\/25\/crypto-analyst-says-prepare-for-100-increase-in-bitcoin-price-as-historical-pattern-forms\/","title":{"rendered":"Crypto Analyst Says Prepare For 100% Increase In Bitcoin Price As Historical Pattern Forms"},"content":{"rendered":"

Last week was a quiet one for Bitcoin, as the US dollar continues to gain ground in the foreign exchange market. Price action, in particular, has had Bitcoin breaking below the<\/a> $26,500 support, indicating a potential risk of more losses below the $26,000 support in the near term.\u00a0<\/p>\n

Some analysts, however, are still betting on a new Bitcoin bull run in the near future. According to crypto analyst \u201cTitan of Crypto\u201d, the Bitcoin price is poised for a huge surge over the next year that could see it double in value or more.\u00a0\u00a0<\/p>\n

Crypto Analyst Predicts 100% Bitcoin Price Increase<\/h2>\n

The crypto analyst, who goes by the X handle @Titan of Crypto, believes Bitcoin is poised for massive gains leading up to the next halving event in 2024 based on historical price patterns.\u00a0<\/p>\n

According to the analyst, Bitcoin\u2019s price action has been consistent with the 78.60% Fibonacci retracement level in the months leading up to the three previous halving events in 2012, 2016, and 2020.<\/p>\n

#Bitcoin<\/a> $48,700 before Halving. <\/p>\n

You might want to bookmark this one.<\/p>\n

Never in history the halving occurred without #BTC<\/a> reaching the 78.6% Fibonacci retracement level.<\/p>\n

1st cycle, price reached it 4 months before halving.
\n 2nd cycle, it was 2 months before.
\n 3rd\u2026 pic.twitter.com\/9Qc5RCteG5<\/a><\/p>\n

\u2014 Titan of Crypto (@Washigorira) September 23, 2023<\/a><\/p>\n

The price chart shared by @Titan of Crypto shows Bitcoin\u2019s price had reached the 78.60% Fibonacci retracement level two months before the 2012 halving, two months before the 2016 halving, and 12 months before the 2020 halving.\u00a0<\/p>\n

Of course, past performance is no guarantee of future results. However, if history repeats itself, the price of Bitcoin could double from $26,130 to $48,700 based on the analyst\u2019s prediction. A similar prediction<\/a> from the analyst puts the next peak for Bitcoin\u2019s current cycle at $108,000.<\/p>\n\n

The Bitcoin halving, which cuts the block reward for miners in half, has been known to have a bullish effect on Bitcoin. A similar prediction<\/a> by equity research firm Fundsrat to its clients predicted the next halving to have a bullish effect on the price of Bitcoin. While the next halving isn\u2019t slated to occur until April 2024, analysts have predicted Bitcoin rising before then.\u00a0<\/p>\n

Another analyst who goes by the X handle @100trillionUSD also predicted a series of events before the next halving, with a Bitcoin price rise being one of them.<\/p>\n

This checkbox has been marked, as Bitcoin has risen from $18,000 since the beginning of the year. According to him, the 2024 halving should meet Bitcoin at a price greater than $32,000 and a bull market will push Bitcoin above $100,000.\u00a0<\/p>\n

To be clear, I still stand by my January 12 prediction:<\/p>\n

Nov 2022 $15.5k was the bottom
\n Bitcoin will rise towards 2024 halving. BTC already rose from $18k to $27k since Jan 12.
\n 2024 halving will be >$32k ($32k-$66k IMO)
\n 2025 bull market >$100k ($100k-$1m IMO) https:\/\/t.co\/V74Y8VYCVo<\/a> pic.twitter.com\/VBjsHObMMl<\/a><\/p>\n

\u2014 PlanB (@100trillionUSD) September 18, 2023<\/a><\/p>\n

This bullish stance, however, is not shared by everyone. While the industry awaits the implication of the Fed\u2019s recent decision<\/a> on interest rates and its implication on the crypto market, analyst Nicholas Merten has warned <\/a>of a potential $440 billion decline in overall crypto market capitalization.\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Last week was a quiet one for Bitcoin, as the US dollar continues to gain ground in the foreign exchange market. Price action, in particular, has had Bitcoin breaking below the<\/a> $26,500 support, indicating a potential risk of more losses below the $26,000 support in the near term.\u00a0<\/p>\n

Some analysts, however, are still betting on a new Bitcoin bull run in the near future. According to crypto analyst \u201cTitan of Crypto\u201d, the Bitcoin price is poised for a huge surge over the next year that could see it double in value or more.\u00a0\u00a0<\/p>\n

Crypto Analyst Predicts 100% Bitcoin Price Increase<\/h2>\n

The crypto analyst, who goes by the X handle @Titan of Crypto, believes Bitcoin is poised for massive gains leading up to the next halving event in 2024 based on historical price patterns.\u00a0<\/p>\n

According to the analyst, Bitcoin\u2019s price action has been consistent with the 78.60% Fibonacci retracement level in the months leading up to the three previous halving events in 2012, 2016, and 2020.<\/p>\n

#Bitcoin<\/a> $48,700 before Halving. <\/p>\n

You might want to bookmark this one.<\/p>\n

Never in history the halving occurred without #BTC<\/a> reaching the 78.6% Fibonacci retracement level.<\/p>\n

1st cycle, price reached it 4 months before halving.
\n 2nd cycle, it was 2 months before.
\n 3rd\u2026 pic.twitter.com\/9Qc5RCteG5<\/a><\/p>\n

\u2014 Titan of Crypto (@Washigorira) September 23, 2023<\/a><\/p>\n

The price chart shared by @Titan of Crypto shows Bitcoin\u2019s price had reached the 78.60% Fibonacci retracement level two months before the 2012 halving, two months before the 2016 halving, and 12 months before the 2020 halving.\u00a0<\/p>\n

Of course, past performance is no guarantee of future results. However, if history repeats itself, the price of Bitcoin could double from $26,130 to $48,700 based on the analyst\u2019s prediction. A similar prediction<\/a> from the analyst puts the next peak for Bitcoin\u2019s current cycle at $108,000.<\/p>\n

The Bitcoin halving, which cuts the block reward for miners in half, has been known to have a bullish effect on Bitcoin. A similar prediction<\/a> by equity research firm Fundsrat to its clients predicted the next halving to have a bullish effect on the price of Bitcoin. While the next halving isn\u2019t slated to occur until April 2024, analysts have predicted Bitcoin rising before then.\u00a0<\/p>\n

Another analyst who goes by the X handle @100trillionUSD also predicted a series of events before the next halving, with a Bitcoin price rise being one of them.<\/p>\n

This checkbox has been marked, as Bitcoin has risen from $18,000 since the beginning of the year. According to him, the 2024 halving should meet Bitcoin at a price greater than $32,000 and a bull market will push Bitcoin above $100,000.\u00a0<\/p>\n

To be clear, I still stand by my January 12 prediction:<\/p>\n

Nov 2022 $15.5k was the bottom
\n Bitcoin will rise towards 2024 halving. BTC already rose from $18k to $27k since Jan 12.
\n 2024 halving will be >$32k ($32k-$66k IMO)
\n 2025 bull market >$100k ($100k-$1m IMO) https:\/\/t.co\/V74Y8VYCVo<\/a> pic.twitter.com\/VBjsHObMMl<\/a><\/p>\n

\u2014 PlanB (@100trillionUSD) September 18, 2023<\/a><\/p>\n

This bullish stance, however, is not shared by everyone. While the industry awaits the implication of the Fed\u2019s recent decision<\/a> on interest rates and its implication on the crypto market, analyst Nicholas Merten has warned <\/a>of a potential $440 billion decline in overall crypto market capitalization.\u00a0<\/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-30077","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\/30077","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=30077"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/30077\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=30077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=30077"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=30077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}