{"id":655144,"date":"2024-11-27T16:00:30","date_gmt":"2024-11-27T16:00:30","guid":{"rendered":"https:\/\/ktsl888.com\/?p=655144"},"modified":"2024-11-27T11:00:55","modified_gmt":"2024-11-27T11:00:55","slug":"bitcoin-price-is-mirroring-2023","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-price-is-mirroring-2023\/","title":{"rendered":"Bitcoin Price Is Mirroring The Same Movements From 2023, Here’s What It Means"},"content":{"rendered":"

Crypto analyst <\/span>Trader Tardigrade<\/span><\/a> has drawn the community\u2019s attention to the fact that the Bitcoin price is mirroring 2023 movements. The analyst further provided insights into what this means for the flagship crypto.\u00a0<\/span><\/p>\n

Bitcoin Price Mirroring 2023 Movements<\/h2>\n

In an X post, Trader Tardigrade said that the Bitcoin price stays on track with the 2023 moves. He further remarked that the flagship crypto has just completed <\/span>the pullback<\/span><\/a>. With the pullback complete, the crypto analyst asserted there will be a surge above 100,000, followed by a consolidation around that level.\u00a0<\/span><\/p>\n

 <\/p>\n

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

Interestingly, Trader Tardigrade also predicted that the Bitcoin price would reach $200,000 in early 2025. The analyst\u2019s accompanying chart showed that this price rally to this target will happen by March 2025.\u00a0<\/span><\/p>\n

This parabolic rally to $200,000 is expected to mirror a similar rally that BTC enjoyed from early December that year as it rose to the previous <\/span>all-time high (ATH)<\/span><\/a> of $73,000 in March earlier this year. Meanwhile, it is worth mentioning that Trader Tardigrade isn\u2019t the only one who has predicted that the Bitcoin price can reach this level in this market cycle.\u00a0<\/span><\/p>\n

Bernstein analysts<\/span><\/a> also previously predicted that the BTC price would reach $200,000 by year-end 2025, although they claimed that was a \u2018conservative\u2019 target. Geoffrey Kendrick, Standard Chartered\u2019s Head of Research, also predicted that Bitcoin could reach this price target and gave a similar timeline as Bernstein analysts.\u00a0<\/span><\/p>\n

However, crypto analyst Tony Severino is skeptical that the Bitcoin price could reach $200,000 in this bull cycle. Instead, he has made a more conservative prediction, stating that the flagship crypto would likely peak somewhere in the <\/span>$160,000 range<\/span><\/a>. The analyst noted this was a more feasible target, considering that the golden ratio is in this range.\u00a0<\/span><\/p>\n

BTC Is \u201cFar Away\u201d From A Market Top<\/h2>\n

In an X post, crypto analyst <\/span>Ali Martinez<\/span><\/a> asserted that the BTC price is still \u201cfar away\u201d from a market top. He made this statement while highlighting the market value to realized value (MVRV) indicator, which shows whether the asset is overvalued or undervalued. The chart showed that Bitcoin has yet to reach its true value.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin Price Crash Not Over? Why A Decline To $89,000 Is Possible<\/a><\/div>\n
\"Bitcoin
Source: X<\/figcaption><\/figure>\n

The Bitcoin price is currently facing a significant price correction, having been pumping nonstop since <\/span>Donald Trump\u2019s victory<\/span><\/a>. However, Martinez suggested this might be a great time to buy this dip. According to him, the TD Sequential presents a buy signal on the Bitcoin hourly chart, while a bullish divergence forms against the Relative Strength Index (RSI). He added that this could help Bitcoin rebound to between $95,000 and $96,000.\u00a0<\/span><\/p>\n

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

At the time of writing, the Bitcoin price is trading at around $93,400, down in the last 24 hours, according to <\/span>data<\/span><\/a> from CoinMarketCap.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC price edging for a new peak | 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":"

Crypto analyst Trader Tardigrade has drawn the community\u2019s attention to the fact that the Bitcoin price is mirroring 2023 movements. The analyst further provided insights into what this means for the flagship crypto.\u00a0 Bitcoin Price Mirroring 2023 Movements In an X post, Trader Tardigrade said that the Bitcoin price stays on track with the 2023 moves. He further remarked that the flagship crypto has just completed the pullback. With the pullback complete, the crypto analyst asserted there will be a surge above 100,000, followed by a consolidation around that level.\u00a0   Interestingly, Trader Tardigrade also predicted that the Bitcoin price would reach $200,000 in early 2025. The analyst\u2019s accompanying chart showed that this price rally to this target will happen by March 2025.\u00a0 This parabolic rally to $200,000 is expected to mirror a similar rally that BTC enjoyed from early December that year as it rose to the previous all-time high (ATH) of $73,000 in March earlier this year. Meanwhile, it is worth mentioning that Trader Tardigrade isn\u2019t the only one who has predicted that the Bitcoin price can reach this level in this market cycle.\u00a0 Bernstein analysts also previously predicted that the BTC price would reach $200,000 by year-end 2025, although they claimed that was a \u2018conservative\u2019 target. Geoffrey Kendrick, Standard Chartered\u2019s Head of Research, also predicted that Bitcoin could reach this price target and gave a similar timeline as Bernstein analysts.\u00a0 However, crypto analyst Tony Severino is skeptical that the Bitcoin price could reach $200,000 in this bull cycle. Instead, he has made a more conservative prediction, stating that the flagship crypto would likely peak somewhere in the $160,000 range. The analyst noted this was a more feasible target, considering that the golden ratio is in this range.\u00a0 BTC Is \u201cFar Away\u201d From A Market Top In an X post, crypto analyst Ali Martinez asserted that the BTC price is still \u201cfar away\u201d from a market top. He made this statement while highlighting the market value to realized value (MVRV) indicator, which shows whether the asset is overvalued or undervalued. The chart showed that Bitcoin has yet to reach its true value.\u00a0 Related Reading: Bitcoin Price Crash Not Over? Why A Decline To $89,000 Is Possible The Bitcoin price is currently facing a significant price correction, having been pumping nonstop since Donald Trump\u2019s victory. However, Martinez suggested this might be a great time to buy this dip. According to him, the TD Sequential presents a buy signal on the Bitcoin hourly chart, while a bullish divergence forms against the Relative Strength Index (RSI). He added that this could help Bitcoin rebound to between $95,000 and $96,000.\u00a0 At the time of writing, the Bitcoin price is trading at around $93,400, down in the last 24 hours, according to data from CoinMarketCap.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":651564,"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-655144","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 Is 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