Bitcoin's current market structure is similar to its setup before reaching its all-time high in November 2021, suggesting a potential bullish trajectory for the leading cryptocurrency, according to crypto expert Credible Crypto, who believes a breakout from the accumulation range could lead to a 120% rally and new all-time highs this year. However, a drop below $24.8k would invalidate this prediction.
Blockware Intelligence's analysis titled "2024 Halving Analysis: Understanding Market Cycles and Opportunities Created by the Halving" suggests that Bitcoin's price could potentially reach $400,000 in the next halving epoch due to factors such as reduced sell pressure, increased demand, and historical performance.
A stock market rally is likely to occur in the near future, as recent data indicates that a bounce is expected after a period of selling pressure, with several sectors and markets reaching oversold levels and trading below their normal risk ranges. Additionally, analysis suggests that sectors such as Utilities, Consumer Staples, Real Estate, Financials, and Bonds, which have been underperforming, could provide upside potential in 2024 if there is a decline in interest rates driven by the Federal Reserve.
Bitcoin price reaches a 2-month low, but crypto analyst Michaël van de Poppe predicts a positive change in the future due to market cycle theories and the upcoming Bitcoin halving in 2024, potentially reaching a price of $50-55K pre-halving.
In the latest episode of Market Talks, the future of BTC mining, the impact of the upcoming Bitcoin halving, and the ability for miners to hedge their operations with hash rate derivatives are discussed, with predictions that Bitcoin's volatility will decrease over time and the market will experience macro headwinds and potential new lows in the next six months.
Key social metrics suggest that cryptocurrency markets may soon rebound, as the use of the term "bear market" has reached an 11-week high on social media platforms, which historically indicates that price rises are likely; additionally, deep-pocketed investors are accumulating Bitcoin again, contributing to a recent rally.
Bitcoin remains on track for a massive bull cycle despite recent price decline, as indicated by broader indicators of its price patterns and the use of logarithmic growth curves. The 200-week moving average is seen as less significant as a key price support level for Bitcoin, and the analyst is also looking for an entry point for Ethereum.
Crypto analyst Michaël van de Poppe believes that Ethereum's current price dip could be due to Bitcoin's upcoming halving, and suggests that BTC may follow the path of commodities, while naming certain altcoins, including ARB, OP, INJ, SUI, PEPE, and DOGE, that he's keeping an eye on.
Bitcoin (BTC) is expected to enter a rangebound phase until at least Q4 2023, according to market participant Filbfilb, who predicts that miners and speculation around the halving event will drive prices higher later in the year. However, macroeconomic risks, such as the Federal Reserve's policies, remain a key factor that could impact Bitcoin's performance.
Bitcoin expert Keyur Rohit advises investors to have patience and understand the cycles of Bitcoin, pointing out that the period leading up to the halving often sees a lull in price before potential gains in the future.
Former Goldman Sachs executive Raoul Pal believes that Bitcoin may be on the verge of a massive rally, based on the historical volatility of the cryptocurrency dropping below 20, a level that has preceded significant price increases in the past. Pal also notes that Bitcoin's Bollinger Bands, a volatility indicator, are the tightest they have ever been, further indicating the potential for a strong upward movement. Ethereum is also highlighted as trading within a bullish pattern despite recent market corrections.
Bitcoin's price is closely linked to stock prices and has seen significant growth, outperforming Amazon over a 12-year period, according to Bloomberg analyst Mike McGlone; however, he is skeptical about its move into the mainstream and warns of potential price declines when the masses invest. Other analysts speculate on Bitcoin's price, with predictions ranging from a dip to $23,500 to exceeding $30,000 by year-end. McGlone is known for identifying unique trends in Bitcoin, and JPMorgan suggests that the recent crypto asset selloffs are mostly over.
A trader predicts that Bitcoin will reach a new all-time high before the end of 2023, with the possibility of a 157% rally from the current level.
Altcoins could potentially rally ahead of the Bitcoin halving, according to cryptocurrency analyst Michaël van de Poppe, who believes that the Bitcoin dominance chart suggests a surge in altcoin value rather than a downward market. Van de Poppe is also bullish on Ethereum against Bitcoin, predicting a rise in ETH/BTC to 0.06992 BTC.
Bitcoin's four-year cycles may not be directly linked to halving events, as an alternative theory suggests that they are more closely correlated with the global M2 money supply and macro patterns. However, analysts still anticipate a rally and new bull cycle following the next Bitcoin halving event in late 2024.
Despite the recent downturn in the crypto market, a key Bitcoin metric shows that 95% of the existing supply of Bitcoin has not moved in the past 30 days, indicating strong holding behavior and potential for a price rally with a buy-side catalyst.
The upcoming Bitcoin mining reward halving in April 2024 is anticipated to boost the cryptocurrency market, although previous halvings did not single-handedly initiate bull runs, as macroeconomic factors like fiat liquidity conditions also played a significant role, according to MacroMicro data. The growth rate of the M2 money supply by major central banks, including the U.S. Federal Reserve, European Central Bank, Bank of Japan, and People's Bank of China, is expected to impact the magnitude of the halving-induced uptrend.
Bitcoin must surpass a key price level in order to signal the end of its price stagnation, according to analyst Credible Crypto, who believes that Bitcoin dominance is rising and altcoins will suffer as a result.
Bitcoin's weak performance and its potential "double top" structure raise concerns of more downside, with predictions of new local lows; however, there are indications that Bitcoin may experience a major shakeout before rebounding to "fair value" and the 200-week EMA near $25,600 may offer some optimism; debate ensues over the possibility of Bitcoin filling the $20,000 CME futures gap; liquidity levels on BTC/USD markets continue to increase, adding to bearish predictions; ahead of the Federal Reserve meeting, the United States Consumer Price Index (CPI) data release on September 14 brings potential volatility to the market and may impact crypto market expectations.
Bitcoin (BTC) experienced a short squeeze, leading to a rally in prices and a decline in open interest in futures and perpetual swaps trading. However, the lack of immediate bullish catalysts may cap the price recovery.
Bitcoin (BTC) reached new September highs as markets reacted positively to macroeconomic and crypto industry news, with the cryptocurrency trading at around $26,300, up 5.5% from its September lows; traders have expressed optimism about Bitcoin's recent performance and potential future breakout if a Bitcoin spot price ETF is approved by U.S. regulators in the coming months, while some remain cautious and predict a potential relief rally before a further decline in on-chain volume.
Bitcoin's pre- and post-halving price action could differ from previous cycles due to a change in global monetary policy and tightening liquidity, potentially causing more pain for risk assets like Bitcoin and altcoins, according to crypto market analyst Jamie Coutts.
Bitcoin could potentially surge over 70% in a move similar to 2015, as crypto analyst Michaël van de Poppe observes patterns that indicate a sustained trading range before a significant upside move ahead of the 2016 halving event.
The recent Bitcoin rally is expected to lead to a much larger upswing, potentially reaching $5,000 to $10,000 within a couple of weeks, according to a crypto strategist.
Bitcoin (BTC) is showing signs of a relief rally as it aims to end the week in positive territory, with the potential for further upward movement if it maintains above $26,500; meanwhile, select altcoins like Maker (MKR), Aave (AAVE), THORChain (RUNE), and Render (RNDR) are also experiencing positive developments.
Bitcoin has the potential to rally and reach a new high in 2023, according to an analyst, who also states that the current price action looks constructive after a period of downward trend.
Bitcoin and other cryptocurrencies have seen a rise in price as traders anticipate a potential macroeconomic catalyst that could lead to a significant movement in the market.
Bitcoin, ethereum, BNB, and XRP have experienced a strong price rally in 2023, but a small cryptocurrency has surpassed them, while the Federal Reserve's interest rate decisions could impact the bitcoin price.
Bitcoin could experience another parabolic rally and potentially reach over $80,000 following its 2024 halving event, according to a popular crypto analyst.
Bitcoin attempted a rally, reaching its highest price in three weeks, but quickly faced selling pressure, while the broader crypto market saw modest gains; attention turns to the US Federal Reserve's policy meeting for potential impact on monetary policy.
Bitcoin is expected to experience a strong upward pressure on its price due to the upcoming halving mechanism, making it an attractive time for investors to consider bitcoin mining stocks like Bitfarms and Cipher Mining.
Altcoin Sherpa predicts that memecoin Pepe (PEPE) may continue rallying after breaking through a key resistance level, while Bitcoin (BTC) is expected to decline for the rest of the year, and altcoin Worldcoin (WLD) may experience a price dip after a brief rally.
Bitcoin halving, which is expected to occur in mid-2024, is already 85% complete, and the supply held by long-term holders is nearing its all-time high, suggesting that a mature bull market may not begin until next year.
Bitcoin (BTC) prices are expected to remain bearish in the short term, but analysts anticipate a significant price increase after the 2024 halving event due to past performance and long-term valuation metrics.
Bitcoin's rally towards $27,000 was halted by a drop in the U.S. stock market and rising interest rates, with 10-year Treasury yields surging to a 16-year high and oil prices reaching a new high, leading to concerns of stagflation and prompting CFOs to cut capital spending and operational costs.
Bitcoin is on the verge of reaching levels that offer accumulation opportunities and could potentially start an uptrend, according to crypto trader Michaël van de Poppe, who compares the current price action to that of a pre-halving year.
Fidelity Investments' global macro director believes that a recession could lead to a significant rally for Bitcoin, with the potential for prices to reach $96,210 by the end of 2025 if interest rates decline. He also suggests that Bitcoin's correlation with equities has decreased, making it a potential source of uncorrelated returns in the next market cycle.
The recent rallies in Bitcoin and altcoins could reverse abruptly, according to trader DonAlt, who believes that the market is rallying based on anticipation of Ethereum-based ETFs but warns that these catalysts may not be strong enough to sustain the rallies, especially considering the historical bearishness of crypto futures products.
Bitcoin (BTC) may test its bull market support and potentially have a final leg to the downside, as predicted by crypto analyst Rekt Capital, who also suggests that this could be the last chance to buy BTC at low prices before it potentially peaks in 2025.
Crypto strategist predicts that Bitcoin will enter a massive bull run and reach new all-time highs once it surpasses a key support level, but warns that bearish speculation from the stock market could decrease momentum.
Bitcoin experienced a brief rally above $28,000 but quickly dropped to $27,300, remaining relatively flat compared to the wider crypto market; however, it is still defying the market rout in equity and U.S. Treasury bond trading, signaling a bull market, according to ByteTree's chief investment officer.
Crypto strategist Benjamin Cowen believes that the crypto market is in a "brutal" stage as Bitcoin's dominance increases while altcoins drop, and he predicts that Bitcoin's dominance will likely peak at around 60%.
Bitcoin's sideways price action could turn bullish as early as November, following patterns seen in previous cycles leading up to the halving event, according to market observers.
Bitcoin's upcoming halving event in April 2024 has generated high anticipation, with predictions of another massive rally and a possible surge past $100,000; however, past performance, supply and demand dynamics, and evidence from Litecoin suggest caution in relying solely on these predictions.
Bitcoin and crypto markets are following a cyclical pattern, with bull markets typically occurring after halving events, but a significant pullback is anticipated in the period leading up to the next halving event in April or May 2023, potentially causing a drop in BTC prices.
Crypto analyst Nicholas Merten believes that the next Bitcoin halving in 2024 will not have a significant impact on the market due to the diminishing returns of the event over time.
