BTC price prediction

If history repeats itself, Bitcoin will easily be able to deliver a six-figure BTC Price next cycle, the on-chain indicator says.

Bitcoin (BTC) may next be a “sell” at at least $110,000 as its new bull cycle plays out, a classic on-chain indicator suggests.

Data from on-chain analytics platform Look Into Bitcoin shows Bitcoin’s Terminal Price hinting at a possible six-figure BTC price top.

BTC price to six figures next cycle?

As BTC price action circles its highest levels in 18 months, forecasters are already considering how high it could go in the coming months and even years.

After the next block subsidy halving in April 2024, targets include $130,000, with late 2025 a popular deadline for the next cycle top.

Analyzing Terminal Price, Look Into Bitcoin creator Philip Swift described its value as a “simple” method of estimating long-term BTC price peaks.

Terminal Price is calculated from Bitcoin’s so-called Transferred Price — a value derived by dividing Coin Days Destroyed (CDD) by the existing supply.

CDD is a popular metric which measures how many dormant days are reset each time an amount of BTC moves on-chain. It is useful as a gauge of hodler intent and activity.

Created by Checkmate, lead on-chain analyst at data firm Glassnode, Terminal Price comes into play at the top of each BTC price cycle.

Not every all-time high reaches Terminal Price, but BTC/USD did hit the trendline during its 2017 all-time and initial peak in April 2021. The current all-time high of $69,000, seen in November that year, fell short.

Swift thus suggested that selling “near” Terminal Price would be a suitable policy. Its bear market counterpart, Balanced Price, likewise signals useful market bottoms.

Buy near Balanced Price, sell near Terminal Price.

Could it be that simple?#bitcoin cycles. pic.twitter.com/llHytNVuxr

— Philip Swift (@PositiveCrypto) November 10, 2023

As Terminal Price increases with time, $110,000 may ultimately end up a conservative target should the next all-time high occur only in later in the next cycle.

Waiting on a Pi Cycle crossover

In further analysis this week, Swift also highlighted the Pi Cycle Top indicator as providing reliable long-term high estimates.

Related: CME tops Bitcoin futures OI as ‘real facts’ drive institutional uptake

Pi uses two moving averages for its forecasts, with their crossovers heralding the next high — albeit with the just days’ notice.

“The Pi Cycle Top indicator caught so many off-guard last cycle, including myself, by perfectly identifying the top...again! Will it identify the bitcoin top again this cycle?” Swift queried.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin is due to hit $45,000 by the end of 2023, with post-halving BTC price targets reaching a giant $250,000.

Bitcoin (BTC) continues to circle its highest levels in 18 months and bullish BTC price predictions are flowing in — how high can the bull market go and how fast?

From a crash to $20,000 to six figures within months, there is plenty of variety when it comes to what Bitcoin might do next, with November traditionally one of its most volatile months.

The mood among crypto traders and analysts has improved over the past month after “Uptober” delivered nearly 30% BTC price gains.

Cointelegraph takes a look at five of the most popular targets for 2024 and beyond. Stock-to-Flow may not have come true — at least for now — but $250,000 is still on the radar.

Matrixport predicts $45,000 within two months

A lot can happen in Bitcoin within a short space of time, and with 2024 less than two months away, there is plenty of time for fresh BTC price volatility to take hold.

Before the yearly candle close, some say, BTC/USD will be higher than at present — to the tune of another 30%.

That prediction came from Matrixport, the cryptocurrency trading firm founded by Jihan Wu, himself co-founder of Bitcoin mining giant Bitmain.

Related: 4 signs Bitcoin is starting its next bull run

In a blog post in late October, Matrixport doubled down on a $45,000 year end price target which it originally revealed in January. It was based on a handful of in-house models, with Matrixport also successfully predicting Bitcoin’s October gains.

“Bitcoin is breaking above the July $31,500 resistance level, showing that $45,000 is achievable by year-end,” it summarized.

BTC/USD currently trades at around $34,500, per data from Cointelegraph Markets Pro and TradingView, meaning that the end-of-year level requires another 30% push.

BitQuant: New all-time high pre-halving, $250,000 after

For many, the halving is a watershed moment in every Bitcoin price cycle — but one well-known commentator believes that new all-time highs will come even before then.

In September, BitQuant stated that BTC/USD would surpass its current $69,000 peak before April 2024.

He told X subscribers:

“No, Bitcoin is not going to top before the halving. Yes, it's going to reach a new all-time high before the halving. No, BTC is not going to $160K because the magnitude of every pullback is large. This means it will peak after the halving, in 2024. And yes, the target price is around $250K.”

Both the all-time high and the post-halving $250,000 target came courtesy of Elliott Wave charting, with Bitcoin mimicking behavior from previous cycles.

BitQuant did, however, make room for a total of four “pullbacks” on the way to the quarter million mark.

“There will be one pullback before breaking to a new all-time high, followed by another pullback around $125K. Additionally, there will be two more pullbacks after the halving, which are not demonstrated here,” he added in X interactions.

Three BTC price models, one $130,000 target zone

Bitcoin all-time high predictions are not only coming from individual market participants — BTC price models are also flipping bullish.

Last month, Cointelegraph reported on a range of forecasting tools which are all focusing on an area around $130,000 per bitcoin.

These come from popular analyst CryptoCon, who nonetheless believes that a six-figure BTC price may take two years to become reality.

“I am prepared for lower prices, but the stars are aligning at 130k for Bitcoin this cycle!” he wrote in an X thread on the model data.

The concept also hinges around halving events, and the next peak should come around four years after the $69,000 move in November 2021.

The one million dollar question

It is no secret that some believe that a $1 million BTC price tag is only a matter of time.

Related: New BTC price breakouts see Bitcoin traders confirm targets up to $48K

This year, Cathy Wood, founder, CEO and CIO of asset management firm ARK Invest, has joined former BitMEX CEO Arthur Hayes in doubling down on seven-figure Bitcoin.

When this could happen is — understandably — up for debate, but changing macroeconomic tides have emboldened what remains a daring BTC price prediction.

In October, Hayes maintained that the path to $1 million per bitcoin was "in full effect" thanks to macro reality.

"If people lose faith in the bond market and this fiat artificial construction that we've created over the past 80 to 100 years — this global economy and how it's been structured — if we lose confidence in that, then the amount of money that's going to be looking for an alternative is going to be something that we've never seen before," he said in an interview with Blockworks' "On The Margin" podcast on Nov. 1.

For her part, Wood said in an interview with Bloomberg on Nov. 3 that she would "hands down" choose Bitcoin over gold as an inflation hedge.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin remains on track to deliver “possible” further gains of up to 30% versus current BTC price levels, says CryptoCon.

Bitcoin (BTC) is on track to hit $45,000 in November as part of a classic BTC price cycle, popular analyst CryptoCon said.

In an X thread on Oct. 25, the Bitcoin price model creator turned his attention to one based on Fibonacci retracement levels.

Analyst: $45,000 next month is “possible” for Bitcoin

Bitcoin reaching 17-month highs this week has many market participants expecting a pullback, but CryptoCon believes that plenty of upside potential remains.

Comparing current BTC price behavior to previous cycles, he showed that there is still room for BTC/USD to expand to the highest of the Fibonacci model’s five targets to hit a mid-cycle top.

Four have already been seen, with target four lying around 3.3% above this week’s top at $36,368. In between them are what are called “phases” — and November now marks a deadline for the next to be completed.

“The move to the cycle mid-top usually takes about 2 months after the end of phase 2. Since our first month is about to come to a close in phase 4, the mid-top could be complete as soon as November,” part of the commentary stated.

“Translation: A possible move above 45k by next month.”

Continuing, CryptoCon flagged two key resistance levels for Bitcoin bulls to clear in order for the $45,000 target to become reality.

“Both of these line up at about $36,400,” he noted.

BTC price cycle behavior “completely different”

Updating his own cycle comparison, meanwhile, fellow trader and analyst Rekt Capital described a “completely different” setup for Bitcoin in 2023.

Related: ‘This is the trigger’ — Arthur Hayes says it’s time to bet on Bitcoin

At this point in its four-year pattern, BTC/USD should be testing support, not resistance, he argued, contrasting the current landscape to that from March 2020.

At the time, the pair put in cycle lows of just above $3,000 as part of a cross-market crash engendered by the start of the COVID-19 pandemic.

“Bitcoin is doing something completely different to what it did in 2019 at this same point in the cycle,” he wrote. 

In various recent X posts, Rekt Capital added that any significant pullback would represent a significant cycle buying opportunity.

#BTC

Any deeper retrace that occurs over the next 175 days before the Halving will represent an outsized opportunity for the next few years$BTC #Crypto #Bitcoin pic.twitter.com/KH7bsC7edq

— Rekt Capital (@rektcapital) October 25, 2023

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

BTC price has various reasons to return to $20,000, from a “head and shoulders” pattern to a FUD-induced cascade, Bitcoin analysis warns.

Bitcoin (BTC) hit six-week highs to start October, but some forecasts still see the BTC price returning to $20,000.

While up around 6% since the start of last month and now circling $27,500, Bitcoin is not fooling many with its current price behavior.

Analyst: October “should be bearish” for Bitcoin later on

BTC price strength in recent weeks has many market participants hoping for a push to — and even through — $30,000 resistance.

For some, however, there remains every reason to be cautious.

In X (formerly Twitter) analysis published on Oct. 2, popular trader and market analyst CryptoBullet reiterated that $20,000 is still very much on the radar as a BTC price target.

The latest trip to $28,600, he argued, is now forming the right-hand shoulder of a classic “head and shoulders” chart pattern — with the downside logically due to follow if it completes.

“Second half of October should be bearish imo,” CryptoBullet wrote in part of a subsequent debate.

The idea was built on an August roadmap with a short-term upside target of $28,000 before reversing toward the $20,000 target.

Right Shoulder #Bitcoin https://t.co/OTEyuaVYKx pic.twitter.com/nmMGuJ99Js

— CryptoBullet (@CryptoBullet1) October 2, 2023

Elsewhere in the debate, CryptoBullet said that the bottom zone for BTC/USD lay between $19,000 and $21,000.

Not all responses heeded his warning, with fellow popular trader Elizy, in particular, skeptical of the likelihood of such a scenario playing out.

Warning over “distribution” danger

CryptoBullet, however, is far from alone when it comes to fearing that the worst for Bitcoin is not yet over.

Related: Bitcoin traders demand ‘slow grind’ up after BTC price drops over 4%

In one of CryptoQuant’s Quicktake blog posts on Sept. 28, Joao Wedson, founder and CEO of crypto trading resource Dominando Cripto, compared Bitcoin’s performance between 2020 and 2022.

“Between 2020 and 2022, Bitcoin underwent a notable appreciation, reaching historic highs and capturing global attention. However, this phase was followed by a significant correction that caused prices to plummet, sending the cryptocurrency back to lower levels,” he wrote.

Wedson also suggested that should history repeat, sub-$20,000 levels could resurface. An accompanying chart offered a fractal, which could now be subject to a repeat.

“Now, in 2023, we are once again witnessing Bitcoin achieving over +100% in gains, attracting substantial interest from institutional and retail investors. Nevertheless, the market has recently experienced significant volatility and a downward price trend. This similarity to the past raises questions about whether we are witnessing a repeat of the previous cycle,” he continued.

“The target is $19,500 USD if this fractal holds over the next few weeks, which could result in a series of FUD and negative news in the cryptocurrency space. Furthermore, there is the possibility of a redistribution, where the price threatens significant highs, but institutional profit-taking forces the price down, creating an atmosphere of uncertainty in the market.”

As Cointelegraph reported, other sources, among them trader and analyst Rekt Capital, are demanding that bulls step up to protect support in order to avert a long-term retracement.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin hodlers need to look at November 2024 for clues as to when BTC price will aim for the moon next, says CryptoCon.

Bitcoin (BTC) is about to test hodlers with a “mid cycle lull” before starting a bull run in late 2024, a new BTC price model states.

According to its creator, popular analyst CryptoCon, the “November 28th Cycles Theory” demands the BTC price all-time high in 2025.

Countdown to BTC price “bull run launch”

Amid debate over the nature of the current Bitcoin four-year price cycle, CryptoCon believes that all may be simpler than many imagine when it comes to how BTC/USD behaves at a given time.

Unveiling the November 28th chart on X (formerly Twitter), he delineated the date as a key pivot point in the year, along with a three-week period either side.

“Using 4-year time cycles against my Theory, produces Bitcoins exact behavior in time since its inception. Cycles are centered around the date of the first halving Nov 28th,” he explained.

“Bitcoin price action began at the first bottom October 8th, 2010. This is where cycle curves peak, every 4 years. Tops and bottoms come +/- 21 days from Nov 28th at their appropriate times on the curve. Tops on the upswing, bottoms on the pinnacle.”

The chart describes November 28 as the date Bitcoin sees a “bull run launch” every four years. The last was in 2020, when BTC/USD broke beyond its prior all-time high (ATH) to hit its current $69,000 record a year later.

The next point of interest is thus November 2024. Until then, BTC price action will spend its time in a “mid cycle lull.”

“After Bitcoin bottoms, price makes an early first cycle move (orange) and enters into a mid-cycle lull,” CryptoCon continued.

“This is the longest part of the cycle, where Bitcoin spends time around the median price (half of previous ATH), until the curve bottoms.”

He added that Bitcoin had “almost certainly” seen its early top, referencing the $31,800 local highs from July this year.

A Bitcoin “bull market fakeout”

As Cointelegraph reported, opinions on where BTC price action will go into the 2024 block subsidy halving differ.

Related: Bitcoin halving can take BTC price to $148K by July 2025 — Pantera Capital

Some argue that modest gains will be all that hodlers will see before the event, scheduled for April next year.

In an interview with Cointelegraph this week, Filbfilb, co-founder of trading suite Decentrader, nonetheless delivered a $46,000 target for the halving, with $35,000 slated for year end.

In his latest newsletter published on Sep. 5, meanwhile, CryptoCon summarized 2023 BTC price behavior as a “bull market fakeout.”

“This makes it appear as if the bull market has begun with the trigger of many signals, but then at some point, price fails to continue,” he wrote.

“This is the most convincing example we’ve seen of this yet. Personally, I think there is still some time to go for that and I am patiently awaiting its completion.”

BTC/USD traded at $26,200 at the time of writing on Sep. 8, per data from Cointelegraph Markets Pro and TradingView.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.