Dollar

2024

Parabolic

Bitcoin

<ul>
  
 <li>Bitcoin may see a parabolic rise if the U.S. Dollar Index breaks below a critical support level.</li>   
 <li>Historical halving events have triggered significant Bitcoin price increases, with potential for $145,000 post-2024.</li>   
 <li>A weakening DXY has often aligned with Bitcoin rallies, suggesting a similar trend after the next halving cycle.</li> 
</ul>   
<p>Bitcoin's price movement could be poised for an <a href="https://cryptonewsland.com/bitcoin-surges-to-over-60k-eyes-potential-breakout-as-technical-indicators-align/">upward movement</a> as the U.S. Dollar Index (DXY) shows signs of weakening. According to a tweet by crypto analyst MikybullCrypto, Bitcoin's best days might be ahead as the DXY nears a critical support level. If the index breaks below this support, a parabolic rise in Bitcoin's price could follow.</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   https://twitter.com/MikybullCrypto/status/1826253000308072481 
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</figure>   
<h2 class="wp-block-heading" id="h-bitcoin-price-movements-and-halving-events"><strong>Bitcoin Price Movements and Halving Events</strong></h2>   
<p>The relationship between <a href="https://cryptonewsland.com/bitcoins-parabolic-surge-expected-late-september-2024/">Bitcoin's price and halving events</a> has historically played a crucial role in its long-term performance. Notably, Bitcoin has experienced substantial price increases following each halving, with sharp spikes occurring after a period of consolidation. The latest chart analysis suggests that a similar pattern might unfold after the 2024.</p>   
<p>In this context, the chart shows a projected upward trajectory for Bitcoin, potentially reaching $145,000 or more. The green dotted lines on the chart mark previous halving events, emphasizing the impact these events have had on Bitcoin's price movements.</p>   
<p><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeK-DvPBcggIv8eE85-5jB9PaKOqcYHZkBkmTZQN-FqwYZZMEXoTy6AUwHRp80j3D0IJ7qYGhzCwyMd1qlDgv3p3fIe0sf4PDDJvddjueRYnjlK6EECm7CoMZz8p2c5Kmdallll58T_CnFYxIz8XbrNafn5?key=8-YZfAdpilzcxo7cKm3wBA"></p>   
<p>Source: <a href="https://x.com/MikybullCrypto/status/1826253000308072481" target="_blank" rel="noreferrer noopener nofollow">MikybullCrypto</a></p>   
<h2 class="wp-block-heading" id="h-dxy-s-influence-on-bitcoin-s-price"><strong>DXY's Influence on Bitcoin's Price</strong></h2>   
<p>The U.S. Dollar Index (DXY) has also been a key factor influencing Bitcoin's price. The chart reveals that during <a href="https://cryptonewsland.com/bitcoin-enters-bull-flag-pattern-following/">Bitcoin's previous bullish cycles</a>, the DXY tended to consolidate within a specific range, particularly around halving events. Currently, the DXY appears to be heading toward a critical support zone, and a break below this level could further fuel Bitcoin's bullish momentum.</p>   
<p>The chart's lower section highlights the DXY's movements, showing it fluctuating between 80 and 110. Historically, a weakening DXY has often coincided with a rise in Bitcoin's price, suggesting that the next cycle might follow a similar trend.</p>   
<h2 class="wp-block-heading" id="h-projected-bitcoin-performance-after-2024-halving"><strong>Projected Bitcoin Performance After 2024 Halving</strong></h2>   
<p>Looking forward after the 2024 halving, another analysis by QuintenFrancois on X offers insight into <a href="https://x.com/QuintenFrancois/status/1824037120165491167" target="_blank" rel="noreferrer noopener nofollow">Bitcoin's potential performance</a>. The chart compares Bitcoin's price after previous halving events in 2012, 2016, and 2020, scaling these prices to the projected 2024 levels.</p>   
<p><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcy0RfwDbtQ7psfEogEinOQPYK2YanFwP-zdTO9d8zS2V2771vRolFhi2eG85XP2ObHmDtE245ZlnPBUvPOOF-Mw39ETplfMgZwrEsQEB5R29bVt2YzTulDcz0f6Jw6Tan6PXIFMDtGfO2r0Eh5Ekjo8iUl?key=8-YZfAdpilzcxo7cKm3wBA"></p>   
<p>Source: <a href="https://x.com/QuintenFrancois/status/1824037120165491167" target="_blank" rel="noreferrer noopener nofollow">QuintenFrancois</a></p>   
<p>In previous cycles, Bitcoin's price typically began an upward movement around 200-300 days after the halving. The current projection, marked by a "We are here" note, indicates that Bitcoin is nearing a critical point, approximately 60-100 days post-halving. If historical patterns hold, Bitcoin might be on the verge of another substantial rally, potentially mirroring the explosive moves seen in past cycles.</p> 
<p>The post <a href="https://cryptonewsland.com/bitcoins-price-set-to-surge-as/">Bitcoin’s Price Set to Surge as DXY Weakens, Analysts Predict Parabolic Bull Run Ahead</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Bitcoin’s Price Set to Surge as DXY Weakens, Analysts Predict Parabolic Bull Run Ahead

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