{"id":654405,"date":"2024-11-22T21:30:36","date_gmt":"2024-11-22T21:30:36","guid":{"rendered":"https:\/\/wncen.com\/?p=654405"},"modified":"2024-11-22T11:42:02","modified_gmt":"2024-11-22T11:42:02","slug":"bitcoin-price-mirrors-","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-price-mirrors-\/","title":{"rendered":"Bitcoin Price Mirrors 2017 Pattern, Is The Top Only 2 Weeks Away After Hitting $100,000?"},"content":{"rendered":"

The Bitcoin price is well on its way to reaching the $100,000 price mark, with multiple projections saying it could <\/span>do so by this weekend<\/span><\/a>. Notably, the Bitcoin price reached an intraday high of $99,486 in the past 24 hours, putting it by about only 0.5% from reaching $100,000.<\/span><\/p>\n

As the entire industry <\/span>continues to await<\/span><\/a> the Bitcoin price break above $100,000, crypto analyst Tony “The Bull” Severino has highlighted an interesting outlook for what to expect from here.\u00a0<\/span><\/p>\n

Bitcoin Price Mirrors 2017 Pattern<\/h2>\n

Crypto analyst Tony Severino <\/span>drew parallels<\/span><\/a> of Bitcoin’s recent price movements to its 2017 surge. The Bitcoin price first broke before the round figure mark of $10,000 in the last week of November 2017. Now seven years later, it is exhibiting similar price movements as it looks to break above the next round figure mark of $100,000.\u00a0<\/span><\/p>\n

Related Reading: Crypto Analyst Predicts 37% Upshoot For Dogecoin Price, Points Out Support Levels<\/a><\/div>\n

Bitcoin\u2019s break above the $10,000 level was a pivotal moment in its price history, as it marked a break above a key psychological threshold. Severino pointed out that after reaching this psychological milestone, the Bitcoin price nearly doubled in value within two weeks.<\/span><\/p>\n

Severino used the outcome of this move to draw parallels with the current performance of the Bitcoin price. This time, however, the stakes are higher, with Bitcoin now about to break above the $100,000 mark. Particularly, this is a figure that carries even greater psychological significance in the outlook of the Bitcoin price than the $10,000 mark.<\/span><\/p>\n

\"Bitcoin
Source: X<\/figcaption><\/figure>\n

Could Breaching $100,000 Cause Another Excitement?<\/h2>\n

Severino\u2019s analysis centers around the idea that breaking $100,000 could cause another sharp Bitcoin price increase, much like what happened after it crossed $10,000 in 2017. He noted that the Bitcoin price could see gains of up to 100% from its current price, but the pace of the rally may happen extremely fast.<\/span><\/p>\n

Related Reading: Analyst Reveals When The Ethereum Price Will Reach A New ATH, It\u2019s Closer Than You Think<\/a><\/div>\n

This rapid ascent could mark the final leg of this bull run that will create a peak followed by a significant correction, much like how the 2017 bull cycle played out. <\/span>\u201cThe top is near,\u201d Severino cautioned.\u00a0<\/span>However, he doesn\u2019t believe Bitcoin\u2019s peak is just two weeks away; he suggested it could be as close to around two months.\u00a0<\/span><\/p>\n

It is important to note that the Bitcoin ecosystem has changed massively since it first broke above $10,000 in 2017. At that time, the rally was driven largely by retail investors and Bitcoin whales who got in relatively early. The current landscape includes a <\/span>growing institutional interest in Bitcoin<\/span><\/a>, especially <\/span>through Spot Bitcoin ETFs.<\/span><\/a> This institutional interest has been key to the steady growth of the Bitcoin price throughout this year, and current market dynamics point to such continued growth.<\/span><\/p>\n

At the time of writing, Bitcoin is trading at $99,032, up by 2% in the past 24 hours.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC price still holding high at $98,000 | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The Bitcoin price is well on its way to reaching the $100,000 price mark, with multiple projections saying it could do so by this weekend. Notably, the Bitcoin price reached an intraday high of $99,486 in the past 24 hours, putting it by about only 0.5% from reaching $100,000. As the entire industry continues to await the Bitcoin price break above $100,000, crypto analyst Tony “The Bull” Severino has highlighted an interesting outlook for what to expect from here.\u00a0 Bitcoin Price Mirrors 2017 Pattern Crypto analyst Tony Severino drew parallels of Bitcoin’s recent price movements to its 2017 surge. The Bitcoin price first broke before the round figure mark of $10,000 in the last week of November 2017. Now seven years later, it is exhibiting similar price movements as it looks to break above the next round figure mark of $100,000.\u00a0 Related Reading: Crypto Analyst Predicts 37% Upshoot For Dogecoin Price, Points Out Support Levels Bitcoin\u2019s break above the $10,000 level was a pivotal moment in its price history, as it marked a break above a key psychological threshold. Severino pointed out that after reaching this psychological milestone, the Bitcoin price nearly doubled in value within two weeks. Severino used the outcome of this move to draw parallels with the current performance of the Bitcoin price. This time, however, the stakes are higher, with Bitcoin now about to break above the $100,000 mark. Particularly, this is a figure that carries even greater psychological significance in the outlook of the Bitcoin price than the $10,000 mark. Could Breaching $100,000 Cause Another Excitement? Severino\u2019s analysis centers around the idea that breaking $100,000 could cause another sharp Bitcoin price increase, much like what happened after it crossed $10,000 in 2017. He noted that the Bitcoin price could see gains of up to 100% from its current price, but the pace of the rally may happen extremely fast. Related Reading: Analyst Reveals When The Ethereum Price Will Reach A New ATH, It\u2019s Closer Than You Think This rapid ascent could mark the final leg of this bull run that will create a peak followed by a significant correction, much like how the 2017 bull cycle played out. \u201cThe top is near,\u201d Severino cautioned.\u00a0However, he doesn\u2019t believe Bitcoin\u2019s peak is just two weeks away; he suggested it could be as close to around two months.\u00a0 It is important to note that the Bitcoin ecosystem has changed massively since it first broke above $10,000 in 2017. At that time, the rally was driven largely by retail investors and Bitcoin whales who got in relatively early. The current landscape includes a growing institutional interest in Bitcoin, especially through Spot Bitcoin ETFs. This institutional interest has been key to the steady growth of the Bitcoin price throughout this year, and current market dynamics point to such continued growth. At the time of writing, Bitcoin is trading at $99,032, up by 2% in the past 24 hours.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":650669,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-654405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nBitcoin Price Mirrors 2017 Pattern, Is The Top Only 2 Weeks Away After Hitting $100,000?<\/title>\n<meta name=\"description\" content=\"The Bitcoin price 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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