Future

Bitcoin

April

Rise

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin [BTC] hit a new all-time high on November 6, potentially due to Trump’s pro-crypto stance.</li> 
 <li>Using past trends, experts predict that Bitcoin may exceed $200k during this cycle.</li> 
</ul> 
<p> Bitcoin [BTC] recently set a new all-time high, reaching $76.4k on November 6, following the U.S. elections. </p> 
<p>This surge is believed to be partially influenced by the victory of Donald Trump, who is known for his favorable views towards cryptocurrencies. </p> 
<h2 id="bitcoin-price-prediction-a-repeat-of-2020">Bitcoin Price Prediction: A Repeat of 2020?</h2> 
<p>In 2020, a Bitcoin halving year coincided with the U.S. presidential elections. </p> 
<p>During that time, Bitcoin’s trend was bullish, and the market began to surge as soon as the election results were announced, reducing market uncertainty. </p> 
<p>A similar trend could potentially take place in the coming weeks. </p> 
<p>In the previous cycle, Bitcoin experienced a 319% gain in just over five months. If this trend were to repeat, Bitcoin could potentially reach $288k by the first week of April 2025. </p> 
<p>However, it is important to note that each cycle typically sees lesser gains over a longer period than the previous one, making long-term predictions challenging. </p> 
<h2 id="using-past-trends-to-predict-future-ones">Using Past Trends to Predict Future Ones</h2> 
<p>In 2017, Bitcoin gained significant attention by rallying 600% in three months after being assumed dead just a year earlier. </p> 
<p>Using the price action from then, we can see that most of those gains were retraced by 2019 before the next bull run began in 2020. </p> 
<p>Therefore, a bold prediction for Bitcoin’s price is that it will reach at least $225k this cycle, with an all-time high 10-15% higher. </p> 
<p>However, some renowned analysts and market participants, including Ki Young Ju, believe that prices beyond $100k would be difficult to achieve. </p>

Forecasting Bitcoin Value: Indicators Suggest a Rise to $225K Imminent

Table of Contents

CoinEagle.com

Other articles published on Nov 7, 2024

Chainlink and Major Market Players Launch AI-Powered Initiative to Tackle Unstructured Data in Fi...

Move Over Cardano (ADA) and Ripple (XRP)! XYZ Coin Emerges as the New Gem in Crypto’s Crown

Uniswap Integrates Venmo & Ethereum Shows Stability While Plus Wallet Lets Users Benefit on Every...

Bitcoin Chart Prints Buy Signal: Will BTC Price Rise Further?

UK Pension Fund Embraces Bitcoin with 3% Fund Allocation

Solana Makes 401% Year-To-Date Gains As Cutoshi Looks To Boost ETH

Join our free newsletter for daily crypto updates!