2024

Bitcoin

Buddha

Verge

Notable

<p><a href="https://captainaltcoin.com/bitcoin-btc-price-testing-key-resistance-is-a-new-all-time-high-imminent/" target="_blank" rel="noopener noreferrer nofollow">The price changes in Bitcoin</a> have been attributed to the investors’ interest, with many analysts speculating a new ATH. Notable personalities like Bitcoin Buddha and Lark Davis have emphasized several factors fueling this optimism, including institutional interest and upcoming macroeconomic events.</p>
<h2 class="wp-block-heading" id="strong-institutional-confidence-and-bullish-sentiment-strong"><strong>Institutional Confidence and Bullish Sentiment</strong></h2>
<p>Bitcoin Buddha’s analysis highlights that institutional players like BlackRock have increased their Bitcoin holdings, indicating growing confidence in the asset. This shift suggests that institutional investors anticipate a significant upward movement, possibly a parabolic surge.&nbsp;</p>
<p>Historically, Bitcoin has seen rapid climbs following phases of consolidation, as observed during previous bull runs in 2011, 2017, and 2020-2021.</p>
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   <p lang="en" dir="ltr">Is <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> on the Verge of a Parabolic Surge? <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Bitcoin is lighting up powerful sings that it could be on the cusp of a ATH breakout, with a bullish target clearly in sight! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Institutional giants like <a href="https://twitter.com/hashtag/BlackRock?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#BlackRock</a> are ramping up their Bitcoin holdings, showing a surge of… <a href="https://t.co/5STj3j5E0F" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/5STj3j5E0F</a></p>— Bitcoin Buddha (@Bitcoin_Buddah) <a href="https://twitter.com/Bitcoin_Buddah/status/1848674929195266556?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 22, 2024</a>
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<p>Bitcoin’s chart patterns echo familiar bullish setups, with a 55% rise throughout 2024, including a notable 12.5% gain in October alone. This trend is further reinforced by investor optimism surrounding potential rate cuts by the Federal Reserve, which could support risk assets like Bitcoin.</p>
<h2 class="wp-block-heading" id="strong-historical-patterns-hint-at-potential-breakout-strong"><strong>Historical Patterns Hint at Potential Breakout</strong></h2>
<p>Drawing parallels to past bull phases, <a href="https://dailyhodl.com/2024/10/23/analyst-says-bitcoin-multi-month-downtrend-is-over-hints-at-renewed-upside-for-btc/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin has often surged</a> following extended periods of sideways movement. In past cycles, BTC achieved a 60x increase in 2011, a 20x rise in 2017, and a 6x rally during 2020 and 2021. This trend suggests that Bitcoin may be poised for another rapid climb.</p>
<p>Bitcoin Buddha’s analysis also notes the influence of broader economic factors, such as rising enthusiasm for pro-crypto political figures and possible monetary policy shifts.&nbsp;</p>
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<h2 class="wp-block-heading" id="strong-key-drivers-to-watch-strong"><strong>Key Drivers to Watch</strong></h2>
<p>Lark Davis, another top crypto analyst, noted on X that Bitcoin is around 8% away from its ATH, adding to the bullish sentiment. With the U.S. elections just two weeks away, many believe that macroeconomic shifts could play a crucial role in <a href="https://www.coindesk.com/markets/2024/10/23/bitcoin-is-going-to-80k-regardless-of-trump-or-harris-win-traders-say/" target="_blank" rel="noopener noreferrer nofollow">BTC’s performance</a>.&nbsp;</p>
<p>Davis pointed out that governments worldwide continue to print money, which has led to an increase in global M2 money supply, potentially benefiting assets like Bitcoin.</p>
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   <p lang="en" dir="ltr">Bitcoin is just 8% away from ATHs.<br><br>The US elections are just 2 weeks away.<br><br>Governments all around the world are printing money.<br><br>The global M2 money supply is rising.<br><br>Whales and institutions are buying <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> aggressively.<br><br>Are you paying attention?</p>— Lark Davis (@TheCryptoLark) <a href="https://twitter.com/TheCryptoLark/status/1848755722391114112?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 22, 2024</a>
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<p>Furthermore, whales and institutions are buying BTC aggressively, a trend Davis highlighted as a positive signal for the market. These factors collectively underscore the growing anticipation of a potential price breakout as Bitcoin approaches key resistance levels.</p>
<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/legal-titans-clash-over-ripples-campaign-moves-as-xrp-price-struggles/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Legal Titans Clash Over Ripple’s Campaign Moves as XRP Price Struggles</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-current-price-movement-and-trading-volume-strong"><strong>Current Price Movement and Trading Volume</strong></h2>
<p>At press time, <a href="https://www.coingecko.com/en/coins/bitcoin" target="_blank" rel="noopener noreferrer nofollow">Bitcoin trades at $67,139.15</a>, marking a slight dip of 0.74% in the last day and a marginal 0.03% dip over the past week. The daily trading volume stands at $31.6 billion, reflecting sustained market interest despite price swings lately.</p>
<p>With global economic factors, institutional involvement, and historical patterns converging, the coming weeks could be decisive in determining whether Bitcoin will achieve a new ATH.</p>
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<p>The post <a href="https://captainaltcoin.com/is-bitcoin-price-on-the-verge-of-a-parabolic-surge-analyst-eyes-new-ath/" rel="noopener noreferrer nofollow">Is Bitcoin Price on the Verge of a ‘Parabolic Surge’? Analyst Eyes New ATH</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Is Bitcoin Price on the Verge of a ‘Parabolic Surge’? Analyst Eyes New ATH

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