Fun

News Feed - 2023-10-18 12:10:00

William Suberg8 hours agoBTC price models hint at $130K target after 2024 Bitcoin halvingBitcoin is due to double its current all-time high price within two years of the April 2024 halving, the models suggest.6519 Total views44 Total sharesListen to article 0:00Markets NewsJoin us on social networksBitcoin (BTC) is destined to hit $128,000 or more by the end of 2025, multiple analytics models suggest.


Uploading his latest BTC price estimates to X (formerly Twitter) on Oct. 17, popular trader and analyst CryptoCon deduced a two-year target of around $130,000.Multiple BTC price forecasts converge on $130,000 in 2025


Bitcoin market participants are diverging over how BTC price behavior will respond to next year’s block subsidy halving, but for CryptoCon, the long-term roadmap is looking firmly bullish.


In an update for various models charting both Bitcoin price cycles and their highs and lows, the analyst reiterated that the area around $130,000 was fast becoming a magnet.


“I’ve been doing a lot of Bitcoin cycle top experiments lately, and I keep seeing right around the same price... 130k,” he summarized.


An accompanying chart highlighted so-called “early” tops in each price cycle, along with the actual cycle top constituting a new all-time high.


The early tops, on average, occur three weeks on either side of July 9, CryptoCon explained. The new all-time highs come three weeks on either side of Nov. 28 — already a popular phenomenon that Cointelegraph reported on last month.


The timing for these events comes from plotting simple diagonal trendlines from the first early top.


“Doing this has found the the price of the last two cycle tops exactly, and with our trend from last cycle, gives us a price of about 138k,” the X post continued.“I am prepared for lower prices, but the stars are aligning at 130k for Bitcoin this cycle!”BTC price model data. Source: CryptoCon/X


Per model timing, 2025 should be the year that the next cycle top occurs, just under twice the current record set in 2021.“History favors the bears”


Four-year halving cycles, meanwhile, form a guide for many well-known Bitcoin market commentators.


Related: Mining BTC is harder than ever — 5 things to know in Bitcoin this week


Among them is popular trader and analyst Rekt Capital, who continues to stress that the prehalving year 2023 could bring about some new local lows before the bull market attains full force. #BTC

5 Phases of The Bitcoin Halving

1. Pre-Halving period

If a deeper retrace is going to occur, it will likely be over the next 140 days or so (orange)

In fact, $BTC retraced -24% in 2015 and -38% in 2019 at this same point in the cycle (i.e. ~200 days before the Halving)… pic.twitter.com/r1dAWBJXyw— Rekt Capital (@rektcapital) October 6, 2023


Previously, he warned that the $32,000 highs seen earlier this year could end up printing a double-top structure, helping fuel a protracted BTC price downturn next. 


“At this same point in the cycle (~180 days before the Halving)… BTC retraced -25% in 2015/2016 and -38% in 2019,” one of his latest X posts reads.“Only question is: does history repeat? Or does 2023 generate something completely different? I’m a Macro Bull but history favours Bears.” 


Rekt Capital added that any new lows “should be treated as an opportunity for re-accumulation.”


This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.


Collect this article as an NFTto preserve this moment in history and show your support for independent journalism in the crypto space.# Bitcoin# Bitcoin Price# Markets# Predictions# Bitcoin HalvingAdd reactionAdd reactionRead moreETF filings changed the Bitcoin narrative overnight — Ledger CEOMacro factors to spark next crypto bull market in Q2 2024, Real Vision’s Raoul Pal saysIs Bitcoin price going to crash again?

News Feed

Watch these BTC price support levels as Bitcoin tumbles below $64K
William Suberg7 hours agoWatch these BTC price support levels as Bitcoin tumbles below $64KBitcoin’s short-term holder cost basis is crossed in a rare show of weakness as BTC price action fails to find support.3278 Tot
US Senator Proposes Congress Adopt Cryptocurrency for Payments
US Senator Proposes Congress Adopt Cryptocurrency for Payments U.S. Senator Ted Cruz has introduced a resolution that would position Congress to lead in the area of cryptocurrency
Bitcoin would need to hit $93K to flip silver right now
Brayden Lindrea3 hours agoBitcoin would need to hit $93K to flip silver right nowSilver’s market cap has risen to over $500 billion larger than Bitcoin despite the cryptocurrency flipping the precious metal just two mo
Tornado Cash sees $1.9B resurgence this year despite sanctions
Tom Mitchelhill6 hours agoTornado Cash sees $1.9B resurgence this year despite sanctionsThe volume of new deposits into the OFAC-sanctioned crypto mixer has jumped significantly in the first half of 2024.2270 Total views
US Govt Moves 54.9 billion Shiba Inu, But SHIB Could Explode By 130%
Este artículo también está disponible en español. A wallet linked to the United States government has transferred over 54 billion Shiba Inu (SHIB) tokens to a newly creat
Coinbase refutes accusation it violated campaign finance laws
Tom Mitchelhill5 hours agoCoinbase refutes accusation it violated campaign finance lawsDescribing the allegations as “misinformation” — Coinbase chief legal officer Paul Grewal said Coinbase was exempt from certain
What You Can Create With a Small Piece of Land in the Metaverse
What You Can Create With a Small Piece of Land in the Metaverse Everybody inside and outside of the metaverse world knows that land ownership is important, and acquiring a plot of
Binance to Open Beijing Office Amid China’s Renewed Blockchain Push
Malta-based cryptocurrency exchange Binance is opening an office in Beijing, two sources with knowledge of the matter told CoinDesk. The new outpost will join Binance’s current mainland China office in Shanghai.
dYdX v3 compromised in an apparent DNS attack
Christopher Roark6 hours agodYdX v3 compromised in an apparent DNS attackAn attacker appears to have installed a token-draining program on the official domain for dYdX version 3.0.853 Total views2 Total sharesListen to a
Coinbase Secures Regulatory Approval to Operate as a Virtual Asset Service Provider in Ireland
Coinbase Secures Regulatory Approval to Operate as a Virtual Asset Service Provider in Ireland Coinbase has announced it has secured regulatory approval as a virtual asset service
Tarantino reportedly wanted to create a metaverse for ‘The Movie Critic’
Tristan Greene7 hours agoTarantino reportedly wanted to create a metaverse for ‘The Movie Critic’It was supposed to be his last film, but the project has been scrapped.3407 Total views1 Total sharesNewsOwn this piece
Tiger King’s Archnemesis Big Cat Rescue Accepts Bitcoin
Tiger King"s Archnemesis Big Cat Rescue Accepts Bitcoin The number one show on Netflix in the U.S. right now is a television series called “Tiger King: Murder, Mayhem and M