Is The Bitcoin Cycle Peak In? Historical Halving Data Suggests Upside Potenti...
Bitcoin is now down over 29% from its all-time high (ATH) in January, and speculation about a coming bear market is growing among investors. After weeks of heavy selling pressure, Bitcoin has entered a consolidation phase, trading between $80K and $85K, with no clear breakout direction yet. Related Reading: BTC Options Market Shows Bullish Bias – […]
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A simple comparison shows just how much room both BTC and ETH price action have left to grow. Bitcoin (BTC) may be over seven times higher than at its last halving, but if history repeats, that number could grow another 300% and more.As tracked by on-chain data source Ecoinometrics this month, BTC/USD has the potential to eclipse estimates simply by following historical precedent.Bitcoin: Compared to 2017, you ain’t seen nothing yetBitcoin currently trades 7.3 times its price since the halving in May 2020. If the last halving cycle is anything to go by, however, price action will not stop....
In a recent tweet, well-known crypto analyst Rekt Capital delved into the potential timeline for the next Bitcoin market peak, emphasizing the Halving cycle’s significant impact on building BTC’s market path. As the Bitcoin Halving is set to occur between today and tomorrow, April 20, Bitcoin has shown less significant market movement. At the time of writing, the asset has a market price of $64,578. Related Reading: Bitcoin Halving Could Catalyzed $100,000 Price Surge: Bitwise CEO Analyst: ‘When Could Bitcoin Peak In This Bull Market?’ According to Rekt....
It’s been quite a bearish week for Bitcoin, as the crypto has fallen around 3% since the beginning of the week. Price action, in particular, has had Bitcoin struggling to break above $27,000, indicating a potential risk of more losses below this resistance level in the near term. However, according to a crypto analyst, this current retracement might be the beginning of a historical Bitcoin cycle before each halving. Analyst Shows Bitcoin Price Correction Based On Historical Trends Crypto analyst Rekt Capital has said in a post that if historical Bitcoin “halving cycles”....
According to a CryptoQuant analyst, the Bitcoin price top isn’t in yet if the pattern of past bull cycles holds any weight. Bitcoin Might Reach A New ATH In This Cycle As per a CryptoQuant post, it’s possible that Bitcoin hasn’t yet reached the cycle top, and that a new all time high (ATH) might be achieved soon. There are two ways to define a cycle. The first is to make the initial point the BTC halving. Here is a chart that shows how the price of the coin moved in the 2012, 2016, and 2020 bull cycles based on this criterion: Price vs the number of days after halving in....
A reading of the historical data paints a promising picture for Bitcoin's potential growth in 2021. Analysis of Bitcoin (BTC) price action dating back to 2011 suggests the coin price could next top out somewhere between $75,000 and $306,000, research from Kraken shows.Based on one reading of a logarithmic growth curve that connects historical tops and bottoms, a coin price of $75,000 would signal Bitcoin’s entry into overbought territory, marking the end of its current bull run.“Based on previous cycles, Bitcoin could likely continue appreciating gradually in price before ultimately going....