{"id":402777,"date":"2019-10-29T19:00:30","date_gmt":"2019-10-29T19:00:30","guid":{"rendered":"https:\/\/wncen.com\/?p=402777"},"modified":"2019-10-29T15:46:01","modified_gmt":"2019-10-29T15:46:01","slug":"crypto-trader-bitcoin-price-may-not-break-all-time-high-until-2024","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-trader-bitcoin-price-may-not-break-all-time-high-until-2024\/","title":{"rendered":"Crypto Trader: Bitcoin Price May Not Break All-Time High Until 2024"},"content":{"rendered":"

Bitcoin price<\/a> is currently top of mind with most traders and financial analysts after the crypto asset made its third-largest ever one-day gain since its inception this past week.<\/span><\/p>\n

The powerful move has once again renewed discussion around Bitcoin\u2019s all-time high, in regard to what the price may be, and when it may occur. However, one prominent crypto trader who has made a number of accurate calls in the past believes that Bitcoin will not set a new all-time high for another five years.<\/span><\/p>\n

Bitcoin All-Time High Coming In October 2024 According To Fibonacci Sequence<\/h2>\n

Almost two years ago, Bitcoin<\/a> set its all-time high at the height of the crypto hype bubble, at a price of $20,000 per BTC. Since then, it\u2019s gone through a painful bear market, and fallen to a low of $3,100 \u2013 an over 80% retracement from its peak to trough. <\/span><\/p>\n

This year, Bitcoin made its first real attempt at setting a new record and brought savvy and risk-tolerant investors who bought the bottom as much as 350% gains at the latest local peak. But once Bitcoin reached $14,000, it was violently rejected, putting a damper on any talk of new a new all-time high being set for this year.<\/span><\/p>\n

Related Reading | Not So Fast Bulls: Latest Bitcoin Pump May Be Wyckoff Distribution Throwback<\/a><\/strong><\/em><\/p>\n

Still, crypto investors are holding out hope for Bitcoin\u2019s upcoming halving in May 2020 to bring the asset to a new record high. Even a highly cited Bitcoin stock-to-flow model is suggesting that Bitcoin will be at least $55,000 per BTC around the time the halving takes place early next year.<\/span><\/p>\n

However, another theory has emerged, and one that is steeped in mathematics. One prominent crypto trader who has made a number of successful calls \u2013 even calling for a blow-off top in early June<\/a> and suggesting NEO would be among the first altcoins to explode in the aftermath \u2013 claims that Bitcoin will not set a new all-time high until 2024.<\/span><\/p>\n

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$BTC<\/a> needed:
\ud83d\udc49625 days to break 2011 ATH
\ud83d\udc491245 days to break 2013 ATH
\ud83d\udc49It's been only 680 days since ATH of 2017<\/p>\n

Think about it for a sec…
Remember Fibonacci? <\/p>\n

625 + 625 = 1250!
1250 + 1250 = 2500 – 680 = 1820 day left.<\/p>\n

\ud83c\udfaf\u00a0 October 2024@BTC_JackSparrow<\/a> think level. \ud83e\udde0 pic.twitter.com\/50Ec0GFQ3p<\/a><\/p>\n

— MAXi. (@888Velvet) October 29, 2019<\/a><\/p><\/blockquote>\n