As an experienced trading analyst, I’ve seen my fair share of market ups and downs, and based on the available data and trends, I firmly believe that Bitcoin’s post-halving price rally is not only possible but also inevitable.
As a crypto investor, I’ve noticed that Bitcoin took a hit and dipped by 3.06% on Friday, reaching a low point of $60,372.36 according to CoinMarketCap’s data. Currently, Bitcoin is in a consolidation phase. However, Titan of Crypto, a respected trading analyst with the username X, remains optimistic about Bitcoin’s potential for a post-halving price rally despite this recent decline.
Bitcoin Rise Inevitable, Analyst Pinpoints $150,000 Price Target
On Fridays, Titan of Crypto posted a sequence of X messages with optimistic outlooks on the Bitcoin market. Initially, this analyst observed an intriguing bullish indication in BTC‘s price behavior on the daily chart.
In simpler terms, when a bigger bullish candle appears and entirely covers the preceding smaller bearish candle on the cryptocurrency chart, this event is called a “bullish engulfing pattern.” It’s a sign that the market may be shifting from a downtrend to an uptrend.
Based on these findings, it is anticipated that Bitcoin will undergo a significant price surge following its halving event. This perspective was labeled as “inevitable” by the cryptocurrency titan, drawing upon historical Bitcoin pricing trends.
The crypto analyst said:
As an analyst, I’ve observed that delving into the past is essential for comprehending current market trends. Specifically regarding Bitcoin (BTC), historical data reveals a consistent pattern following each halving event: a post-halving rally.
As a researcher studying the cryptocurrency market, I acknowledge that short-term price fluctuations can be perplexing. However, based on historical trends following Bitcoin’s halving events, I anticipate a long-term bullish trend for Bitcoin. My prediction aligns with previous post-halving rallies, suggesting Bitcoin could trade around $150,000 by 2025.
BTC Close To Bottom Price As Dip Buy Interest Drops
According to blockchain analysis platform Santiment, the current decline in Bitcoin’s price may be coming to an end. They believe Bitcoin could be approaching its “bottom,” or the lowest point in a market drop before prices begin to rebound strongly.
As a researcher examining the latest developments in the cryptocurrency market, I find it intriguing that Santiment’s prediction is rooted in diminished dip-buying activity among Bitcoin investors. The analytics platform reveals that current trading interest in Bitcoin following its recent price drop on Friday pales in comparison to historical levels of investor engagement during previous price declines.
Currently, Bitcoin is being transacted at approximately $60,968. In the previous week, it experienced a decrease of 3.26%, resulting in a reduced value. On the longer-term monthly chart, Bitcoin displays a downward trend, amounting to a loss of $13.64%. Despite this, there is an increase in its daily trading volume by 9.73% and an accumulation of $27.88 billion.
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2024-05-11 12:40