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

Reusable Payment Addresses: A New Tool to Provide More Privacy in Bitcoin Cash
Reusable Payment Addresses: A New Tool to Provide More Privacy in Bitcoin Cash Electron Cash, a leading bitcoin cash wallet, has implemented a new feature called
Dogecoin Breaks Above Falling Wedge Pattern – Analyst Sets $0.43 Target
Este artículo también está disponible en español. Dogecoin is trading below key levels after dropping over 10% following last night’s bullish price action. The meme coi
Ripple Is Selling 33% of Its Stake in Moneygram
Ripple Is Selling 33% of Its Stake in Moneygram Ripple Labs Inc. is selling 4 million of its shares in Moneygram, or about a third of its total shareholding in t
Ethereum gas fees rose 498% in two weeks as network activity surged — Report
Nancy Lubale3 hours agoEthereum gas fees rose 498% in two weeks as network activity surged — ReportAn uptick in Ethereum network activity was accompanied by a 498% rise in ETH gas fees. Will Ether price respond?525 Tot
‘Ethereum: The Infinite Garden’ Documentary Project Raises 1,036 Ether
"Ethereum: The Infinite Garden" Documentary Project Raises 1,036 Ether A documentary project called “Ethereum: The Infinite Garden” has raised 1,036
Metaverse set to revolutionize $54B medical tourism market: Research
Tristan Greene5 hours agoMetaverse set to revolutionize $54B medical tourism market: ResearchThe metaverse has found substantial footing in the medical industry with the advent of dedicated facilities catering to remote
Report: BTC Mining Investment Platform Declared Pyramid Scheme by South African Consumer Watchdog
Report: BTC Mining Investment Platform Declared Pyramid Scheme by South African Consumer Watchdog According to the National Consumer Commission, about 4,000 South Africans who inve
Marcel Pechman4 hours agoBitcoin price drops to a two-month low — Did pro traders benefit?A massive amount of traders were liquidated as the BTC price dropped to $25,300, but was it primarily retail traders that were w
Meme Token Carnage — DOGE, SHIB Prices Sink Lower, Dogecoin Down 82% Since Last Year
Meme Token Carnage — DOGE, SHIB Prices Sink Lower, Dogecoin Down 82% Since Last Year Today’s top meme coins have lost 4.8% in value against the U.S. dollar, as the crypto
How Many Women Users Before Crypto Is Not Sexist?
How Many Women Users Before Crypto Is Not Sexist? A recent headline on Micky — an iconoclastic media outlet that focuses on cryptocurrency — read “Crypto Twitte
Prashant Jha14 hours agoBinance sold USDC for BTC and ETH after Silvergate Bank collapse: PoR reportBinance’s depleting USDC reserves has become a hot topic in the crypto ecosystem, especially after Coinbase CEO’s qu
Why is XRP price down today?
Yashu Gola12 hours agoWhy is XRP price down today?XRP price is down today, driven by delays in the Ripple vs. SEC lawsuit and diminishing expectations for a September interest rate cut.2009 Total views1 Total sharesListe