Déjà Vu? Bitcoin Price Eyes Repeat Performance, Could Hit $140,000 By August – Analyst
23 Maio 2024 - 10:00AM
NEWSBTC
Recent bitcoin analysis and predictions from leading experts shed
light on the potential trajectory of the top crypto asset’s price
in the coming months, with a focus on 2024 and beyond. Related
Reading: Tiny Pepe, Big Dreams: Memecoin Explodes, Eyes Dominance
In The Dog House Market Insights And Price Forecasts For Bitcoin As
the crypto community eagerly anticipates the future of Bitcoin, a
diverse range of price predictions has emerged. Notable figures
such as Arthur Hayes, Messari, Tim Draper, JP Morgan, Berenberg,
and VanEck have weighed in with their forecasts, painting a varied
picture of what lies ahead for the pioneering cryptocurrency. While
some experts project conservative estimates, suggesting a price
range of around $45,000, others are more bullish, envisioning BTC
soaring to over $600,000 by 2024. These forecasts are underpinned
by a nuanced understanding of market dynamics, including factors
such as institutional interest, regulatory developments, and the
impact of halving events on Bitcoin’s supply and demand dynamics.
Historical Analysis And Market Cycle Patterns Drawing insights from
historical data and market cycle patterns, analysts have identified
intriguing parallels that could signal significant upside potential
for Bitcoin. Previous market cycles have shown that after
surpassing key all-time highs, Bitcoin prices have the propensity
to double within a relatively short timeframe. The analysis of past
cycles, particularly the peaks in 2013, 2017, and 2021, suggests a
pattern of rapid price appreciation following the breach of
previous price records. If history is any indication, Bitcoin could
be poised for a substantial move upwards, with projections
indicating a potential doubling in price to around $140,000 in the
near future. Expert Opinions And Market Sentiment Amidst the flurry
of price predictions and market analyses, experts and analysts
continue to offer valuable insights into the evolving landscape of
cryptocurrency markets. Notable figures such as Alphanalysis and
Will Woo have shared their perspectives on Bitcoin’s price
trajectory, highlighting the importance of market corrections,
accumulation phases, and the gradual build-up towards new all-time
highs. In 2017 the price of Bitcoin doubled in just 4 weeks after
it established brand new all time highs. In 2021 the price of
Bitcoin doubled in just 4 weeks after it established brand new all
time highs. In 2024 the same action would imply a $138,000 price by
the end of June.🚀🌛 pic.twitter.com/4kOBPa6y11 — alphanalysis.io
(@Sawcruhteez) May 22, 2024 Related Reading: Next Big Move For
Bitcoin: Analysts Predict A Potential Breakout At $71,500 While
everyone was freaking out that #Bitcoin price was not rising the
last 2 months, available BTC was quietly being scooped up, and
importantly without paper BTC printed in its place. Last time I’ll
say it… It’s only a matter of time before BTC squeezes past
all-time-highs. https://t.co/j2FJs7bSpc pic.twitter.com/HoPSSJfHqz
— Willy Woo (@woonomic) May 22, 2024 Bitcoin Price Prediction
Meanwhile, in the most recent estimate of CoinCodex for the price
of Bitcoin, it shows the price will increase by 27% by June 22,
2024, to reach $88,997. This technical indicator indicates that the
present mood is bullish, and the Fear & Greed Index is reading
76, which indicates extreme greed. Over the previous 30 days,
Bitcoin’s price fluctuated by 4.47%, with 12 out of 30 (or 40%)
green days. The Bitcoin forecast indicates that this is a favorable
moment to purchase Bitcoin. Latest data shows that there is a
bullish general mood on Bitcoin price prediction, with 84%
technical analysis indicators indicating optimistic signs and 16%
indicating negative signals. Featured image from NPR, chart from
TradingView
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