{"id":552760,"date":"2023-09-25T11:30:32","date_gmt":"2023-09-25T11:30:32","guid":{"rendered":"https:\/\/wncen.com\/?p=552760"},"modified":"2024-06-11T08:01:52","modified_gmt":"2024-06-11T08:01:52","slug":"100-increase-bitcoin-price","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/100-increase-bitcoin-price\/","title":{"rendered":"Crypto Analyst Says Prepare For 100% Increase In Bitcoin Price As Historical Pattern Forms"},"content":{"rendered":"

Last week was a quiet one for Bitcoin, as the US dollar continues to gain ground in the foreign exchange market. Price action, in particular, has had Bitcoin <\/span>breaking below the<\/span><\/a> $26,500 support, indicating a potential risk of more losses below the $26,000 support in the near term.\u00a0<\/span><\/p>\n

Some analysts, however, are still betting on a new Bitcoin bull run in the near future. According to crypto analyst “Titan of Crypto”, the Bitcoin price is poised for a huge surge over the next year that could see it double in value or more.\u00a0\u00a0<\/span><\/p>\n

Crypto Analyst Predicts 100% Bitcoin Price Increase<\/h2>\n

The crypto analyst, who goes by the X handle @Titan of Crypto, believes Bitcoin is poised for massive gains leading up to the next halving event in 2024 based on historical price patterns.\u00a0<\/span><\/p>\n

Related Reading: Ethereum Founder Vitalik Buterin Reveals The Challenges Of The Network<\/a><\/div>\n

According to the analyst, Bitcoin’s price action has been consistent with the 78.60% Fibonacci retracement level in the months leading up to the three previous halving events in 2012, 2016, and 2020.<\/span><\/p>\n

\n

#Bitcoin<\/a> $48,700 before Halving. \ud83d\ude80\ud83d\ude80\ud83d\ude80<\/p>\n

You might want to bookmark this one.<\/p>\n

Never in history the halving occurred without #BTC<\/a> reaching the 78.6% Fibonacci retracement level.<\/p>\n

\u25fd\ufe0f 1st cycle, price reached it 4 months before halving.
\n\u25fd\ufe0f 2nd cycle, it was 2 months before.
\n\u25fd\ufe0f 3rd\u2026 pic.twitter.com\/9Qc5RCteG5<\/a><\/p>\n

\u2014 Titan of Crypto (@Washigorira) September 23, 2023<\/a><\/p><\/blockquote>\n

The price chart shared by @Titan of Crypto shows Bitcoin’s price had reached the 78.60% Fibonacci retracement level two months before the 2012 halving, two months before the 2016 halving, and 12 months before the 2020 halving.\u00a0<\/span><\/p>\n

Of course, past performance is no guarantee of future results. However, if history repeats itself, the price of Bitcoin could double from $26,130 to $48,700 based on the analyst’s prediction. <\/span>A similar prediction<\/span><\/a> from the analyst puts the next peak for Bitcoin’s current cycle at $108,000.<\/span><\/p>\n

\"Bitcoin<\/p>\n

BTC price struggling to hold $26,000 | Source: BTCUSD on Tradingview.com<\/a><\/pre>\n
The Bitcoin halving, which cuts the block reward for miners in half, has been known to have a bullish effect on Bitcoin. <\/span>A similar prediction<\/span><\/a> by equity research firm Fundsrat to its clients predicted the next halving to have a bullish effect on the price of Bitcoin. While the next halving isn’t slated to occur until April 2024, analysts have predicted Bitcoin rising before then.\u00a0<\/span><\/p>\n
Another analyst who goes by the X handle @100trillionUSD also predicted a series of events before the next halving, with a Bitcoin price rise being one of them.<\/span><\/p>\n
 This checkbox has been marked, as Bitcoin has risen from $18,000 since the beginning of the year. According to him, the 2024 halving should meet Bitcoin at a price greater than $32,000 and a bull market will push Bitcoin above $100,000.\u00a0<\/span><\/p>\n
\n
To be clear, I still stand by my January 12 prediction:<\/p>\n
\u2705 Nov 2022 $15.5k was the bottom
\n\u2705 Bitcoin will rise towards 2024 halving. BTC already rose from $18k to $27k since Jan 12.
\n\u2753 2024 halving will be >$32k ($32k-$66k IMO)
\n\u2753 2025 bull market >$100k ($100k-$1m IMO) https:\/\/t.co\/V74Y8VYCVo<\/a> pic.twitter.com\/VBjsHObMMl<\/a><\/p>\n
\u2014 PlanB (@100trillionUSD) September 18, 2023<\/a><\/p><\/blockquote>\n
Related Reading: What The Drop In Spot And Derivatives Volumes Means For The Price Of Bitcoin<\/a><\/div>\n
This bullish stance, however, is not shared by everyone. While the industry awaits the implication of the Fed\u2019s <\/span>recent decision<\/span><\/a> on interest rates and its implication on the crypto market, analyst Nicholas Merten has <\/span>warned <\/span><\/a>of a potential $440 billion decline in overall crypto market capitalization.\u00a0<\/span><\/p>\n
Featured image from Unsplash, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Last week was a quiet one for Bitcoin, as the US dollar continues to gain ground in the foreign exchange market. Price action, in particular, has had Bitcoin breaking below the $26,500 support, indicating a potential risk of more losses below the $26,000 support in the near term.\u00a0 Some analysts, however, are still betting on a new Bitcoin bull run in the near future. According to crypto analyst “Titan of Crypto”, the Bitcoin price is poised for a huge surge over the next year that could see it double in value or more.\u00a0\u00a0 Crypto Analyst Predicts 100% Bitcoin Price Increase The crypto analyst, who goes by the X handle @Titan of Crypto, believes Bitcoin is poised for massive gains leading up to the next halving event in 2024 based on historical price patterns.\u00a0 Related Reading: Ethereum Founder Vitalik Buterin Reveals The Challenges Of The Network According to the analyst, Bitcoin’s price action has been consistent with the 78.60% Fibonacci retracement level in the months leading up to the three previous halving events in 2012, 2016, and 2020. #Bitcoin $48,700 before Halving. \ud83d\ude80\ud83d\ude80\ud83d\ude80 You might want to bookmark this one. Never in history the halving occurred without #BTC reaching the 78.6% Fibonacci retracement level. \u25fd\ufe0f 1st cycle, price reached it 4 months before halving. \u25fd\ufe0f 2nd cycle, it was 2 months before. \u25fd\ufe0f 3rd\u2026 pic.twitter.com\/9Qc5RCteG5 \u2014 Titan of Crypto (@Washigorira) September 23, 2023 The price chart shared by @Titan of Crypto shows Bitcoin’s price had reached the 78.60% Fibonacci retracement level two months before the 2012 halving, two months before the 2016 halving, and 12 months before the 2020 halving.\u00a0 Of course, past performance is no guarantee of future results. However, if history repeats itself, the price of Bitcoin could double from $26,130 to $48,700 based on the analyst’s prediction. A similar prediction from the analyst puts the next peak for Bitcoin’s current cycle at $108,000. BTC price struggling to hold $26,000 | Source: BTCUSD on Tradingview.com The Bitcoin halving, which cuts the block reward for miners in half, has been known to have a bullish effect on Bitcoin. A similar prediction by equity research firm Fundsrat to its clients predicted the next halving to have a bullish effect on the price of Bitcoin. While the next halving isn’t slated to occur until April 2024, analysts have predicted Bitcoin rising before then.\u00a0 Another analyst who goes by the X handle @100trillionUSD also predicted a series of events before the next halving, with a Bitcoin price rise being one of them. This checkbox has been marked, as Bitcoin has risen from $18,000 since the beginning of the year. According to him, the 2024 halving should meet Bitcoin at a price greater than $32,000 and a bull market will push Bitcoin above $100,000.\u00a0 To be clear, I still stand by my January 12 prediction: \u2705 Nov 2022 $15.5k was the bottom \u2705 Bitcoin will rise towards 2024 halving. BTC already rose from $18k to $27k since Jan 12. \u2753 2024 halving will be >$32k ($32k-$66k IMO) \u2753 2025 bull market >$100k ($100k-$1m IMO) https:\/\/t.co\/V74Y8VYCVo pic.twitter.com\/VBjsHObMMl \u2014 PlanB (@100trillionUSD) September 18, 2023 Related Reading: What The Drop In Spot And Derivatives Volumes Means For The Price Of Bitcoin This bullish stance, however, is not shared by everyone. While the industry awaits the implication of the Fed\u2019s recent decision on interest rates and its implication on the crypto market, analyst Nicholas Merten has warned of a potential $440 billion decline in overall crypto market capitalization.\u00a0 Featured image from Unsplash, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":552763,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[167,428,656,84627,679,89462,6848,1119,89185,1144,78790,26263,88428],"class_list":["post-552760","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-performance","tag-bitcoin-price","tag-bitcoin-price-performance","tag-bitcoin-price-prediction","tag-btc","tag-btc-news","tag-btcusd","tag-btcusdt","tag-crypto-analyst","tag-market-analyst"],"acf":[],"yoast_head":"\nCrypto Analyst Says Prepare For 100% Increase In Bitcoin Price As Historical Pattern Forms<\/title>\n<meta name=\"description\" content=\"An analyst has said the Bitcoin price is poised for a huge surge over the next year that 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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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