As October approached, Bitcoin began to focus on the resistance level of $28000 and eventually broke through that level on the evening of October 16th. As of the writing of this article, the transaction price of Bitcoin is $28471, which has attracted widespread attention and analysis
As October approached, Bitcoin began to focus on the resistance level of $28000 and eventually broke through that level on the evening of October 16th. As of the writing of this article, the transaction price of Bitcoin is $28471, which has attracted widespread attention and analysis. Multiple analysis models indicate that the price of Bitcoin is expected to reach $128000 by the end of 2025. Renowned investor CryptoCon has also publicly stated that his two-year goal is $130000.
Market participants with a single target price cycle have different views on how Bitcoin will respond to the expected halving event in April 2024. However, according to renowned analyst CryptoCon, Bitcoin presents a bright future in its long-term roadmap.
In his latest Bitcoin price cycle analysis model, analysts believe that the level of $130000 is not unattainable. He points out that:
I have recently conducted a large amount of Bitcoin cycle analysis and found that I often see the same price range. Based on my analysis, it is expected to reach $130000
The chart he posted on social media shows the peak of each cycle, described as the early peak of each Bitcoin price cycle and forming a historical peak.
Famous analysts say that the early peak usually occurs around July 9th, with an average cycle of three weeks. At the same time, historical highs occur every three weeks or so, and the timing of these price cycles is determined based on a simple diagonal trend line drawn since the first early peak.
The halving of Bitcoin every four years has always been the focus of attention for many well-known analysts. Among them, RektCapital pointed out that before the full outbreak of the bull market in 2023, it may witness a local new low.
He once warned that the earlier high of $32000 could form a double peaked structure, potentially triggering a long-term decline in Bitcoin prices before the halving event. In his latest social media post, he shared the following comments:
At the same time in the cycle (180 days before the halving event), Bitcoin experienced a 25% pullback between 2015 and 2016, and a 38% pullback in 2019. The only question is: will history repeat itself or will 2023 create a completely different situation
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