{"id":639318,"date":"2024-09-02T23:00:01","date_gmt":"2024-09-02T23:00:01","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=639318"},"modified":"2024-09-02T16:17:17","modified_gmt":"2024-09-02T16:17:17","slug":"bitcoin-100000-in-the-cards","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/news\/bitcoin\/bitcoin-100000-in-the-cards\/","title":{"rendered":"Bitcoin Decline Not A Cause For Alarm, $100,000 Still In The Cards, Analyst Says"},"content":{"rendered":"

The Bitcoin recent price volatility<\/span><\/a>, including a crash below $50,000 last month, has significantly slowed down the momentum of the <\/span>bull run many analysts are anticipating<\/span><\/a>. Despite the price lull, a certain crypto analyst believes that the Bitcoin bull run is still on track, predicting a sharp rise to over $100,000 once current price corrections stabilize.\u00a0<\/span><\/p>\n

Bitcoin Bull Run Still Going Strong<\/h2>\n

Popular crypto analyst, CryptoCon sees <\/span>Bitcoin\u2019s recent price drop<\/span><\/a> as a minor setback, suggesting that the cryptocurrency\u2019s highly anticipated <\/span>bull run<\/span><\/a> remains unfazed. The analyst took to X (formerly Twitter) on August 28 to make a bullish <\/span>forecast <\/span><\/a>for Bitcoin, based on its current price behavior based on historical trend patterns.\u00a0<\/span><\/p>\n

Related Reading: The Curse Of September: Is Another Massive Bitcoin Sell-Off Coming?<\/a><\/div>\n

CryptoCon indicated that recent market events or news involving <\/span>Bitcoin\u2019s price decline<\/span><\/a> and market volatility may be distracting for many investors, causing them to lose sight of the big picture. The analyst shared a detailed <\/span>Bitcoin price chart <\/span><\/a>depicting all the halving cycles from 2013, each clearly displaying a similar bullish pattern.\u00a0<\/span><\/p>\n

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

The analyst Identified a recurring pattern in Bitcoin\u2019s price movements before and after each halving cycle, highlighting an initial period of <\/span>decline followed by an intense bullish momentum<\/span><\/a>. CryptoCon disclosed that in August 2012, Bitcoin\u2019s price witnessed a significant bearish dip before climbing to new highs in 2013.\u00a0<\/span><\/p>\n

This trend was evident in the subsequent <\/span>halving cycles<\/span><\/a>, with August 2016, and 2020 marked by extended periods of \u201cboring\u201d price action before a dramatic increase to new peaks in 2017, and 2021, respectively. CryptoCon has described this distinctive bullish year as the \u201cRed Year.\u201d<\/span><\/p>\n

The analyst describes 2024 as a \u201cBlue Year\u201d characterized by stable or unexciting price action. He indicated that this period is likely a build up or preparation phase before a \u201cRed Year\u201d where <\/span>Bitcoin\u2019s price<\/span><\/a> hits a new all time high.<\/span><\/p>\n

Drawing from his analysis of <\/span>Bitcoin\u2019s historical halving cycles<\/span><\/a>, CryptoCon has notably raised his conservative estimate for the Bitcoin cycle top, adjusting the range from $90,000 – $130,000 to $110,000 – $160,000.\u00a0<\/span><\/p>\n

Other Analysts Share Similar Sentiment<\/h2>\n

Another crypto analyst identified as \u2018Kyledoops\u2019 on X shares a similar bullish sentiment for Bitcoin\u2019s future price outlook. According to Kyledoops, <\/span>Bitcoin\u2019s net capital inflow is slowing down<\/span><\/a> significantly, indicating a delicate situation where investors’ gains and losses are nearly balanced.\u00a0<\/span><\/p>\n

Related Reading: Crypto Market In Trouble As Analyst Predicts $1 Trillion Crash<\/a><\/div>\n
\"Bitcoin
Source: X<\/figcaption><\/figure>\n

He <\/span>revealed<\/span><\/a> that historically, periods of decreased capital inflow, like what Bitcoin is experiencing currently, have often been followed by significant <\/span>price fluctuations and volatility spikes<\/span><\/a>. However, this lull also hints that huge price swings could be just around the corner for Bitcoin.\u00a0<\/span><\/p>\n

As of writing, the price of Bitcoin is trading at $58,051, reflecting a steep 9.07% decline over the past seven days, according to CoinMarketCap. Despite persistent bearish trends, the pioneer cryptocurrency remains intent on reaching and stabilizing above the $60,000 price mark.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC price recovers from lows | 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":"

The Bitcoin recent price volatility, including a crash below $50,000 last month, has significantly slowed down the momentum of the bull run many analysts are anticipating. Despite the price lull, a certain crypto analyst believes that the Bitcoin bull run is still on track, predicting a sharp rise to over $100,000 once current price corrections stabilize.\u00a0 Bitcoin Bull Run Still Going Strong Popular crypto analyst, CryptoCon sees Bitcoin\u2019s recent price drop as a minor setback, suggesting that the cryptocurrency\u2019s highly anticipated bull run remains unfazed. The analyst took to X (formerly Twitter) on August 28 to make a bullish forecast for Bitcoin, based on its current price behavior based on historical trend patterns.\u00a0 Related Reading: The Curse Of September: Is Another Massive Bitcoin Sell-Off Coming? CryptoCon indicated that recent market events or news involving Bitcoin\u2019s price decline and market volatility may be distracting for many investors, causing them to lose sight of the big picture. The analyst shared a detailed Bitcoin price chart depicting all the halving cycles from 2013, each clearly displaying a similar bullish pattern.\u00a0 The analyst Identified a recurring pattern in Bitcoin\u2019s price movements before and after each halving cycle, highlighting an initial period of decline followed by an intense bullish momentum. CryptoCon disclosed that in August 2012, Bitcoin\u2019s price witnessed a significant bearish dip before climbing to new highs in 2013.\u00a0 This trend was evident in the subsequent halving cycles, with August 2016, and 2020 marked by extended periods of \u201cboring\u201d price action before a dramatic increase to new peaks in 2017, and 2021, respectively. CryptoCon has described this distinctive bullish year as the \u201cRed Year.\u201d The analyst describes 2024 as a \u201cBlue Year\u201d characterized by stable or unexciting price action. He indicated that this period is likely a build up or preparation phase before a \u201cRed Year\u201d where Bitcoin\u2019s price hits a new all time high. Drawing from his analysis of Bitcoin\u2019s historical halving cycles, CryptoCon has notably raised his conservative estimate for the Bitcoin cycle top, adjusting the range from $90,000 – $130,000 to $110,000 – $160,000.\u00a0 Other Analysts Share Similar Sentiment Another crypto analyst identified as \u2018Kyledoops\u2019 on X shares a similar bullish sentiment for Bitcoin\u2019s future price outlook. According to Kyledoops, Bitcoin\u2019s net capital inflow is slowing down significantly, indicating a delicate situation where investors’ gains and losses are nearly balanced.\u00a0 Related Reading: Crypto Market In Trouble As Analyst Predicts $1 Trillion Crash He revealed that historically, periods of decreased capital inflow, like what Bitcoin is experiencing currently, have often been followed by significant price fluctuations and volatility spikes. However, this lull also hints that huge price swings could be just around the corner for Bitcoin.\u00a0 As of writing, the price of Bitcoin is trading at $58,051, reflecting a steep 9.07% decline over the past seven days, according to CoinMarketCap. Despite persistent bearish trends, the pioneer cryptocurrency remains intent on reaching and stabilizing above the $60,000 price mark.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":639338,"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-639318","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 Decline Not A Cause For Alarm, $100,000 Still In The Cards, Analyst Says<\/title>\n<meta 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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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