BTC price prediction

BTC price action is giving two traders no doubt about the Bitcoin bull market due to begin this year.

Bitcoin (BTC) is gearing up for its next bull run in classic style, say traders eyeing two key trend lines.

In some of their latest social media analysis, popular traders Moustache and Titan of Crypto revealed a BTC price breakout in the making.

Bitcoin "bull market line" eyes classic crossover

Bitcoin is closely copying prior BTC price cycles, and the time is almost right for a bullish surge, according to Titan of Crypto.

Uploading historical BTC/USD price data, he drew attention to the 21-week simple moving average (SMA), currently at $27,900 per Cointelegraph Markets Pro and TradingView.

Once this upward-sloping trend line clears the immediate spot price range, a protracted period of upside follows, giving the 21-week SMA its nickname — the “bull market line.”

Titan of Crypto called the phenomenon a “bull market kick off.”

“Once the weekly 21 MA crosses over BTC market structure it will kick off the Bull Market,” he forecast.

“Be ready, it's getting closer.”

Bitcoin’s last such MA cross occurred four years ago in early 2019 — the same juncture as today’s price action during the previous cycle. This led to that year’s local high near $14,000.

March 2020 saw a brief undoing of the cross thanks to the COVID-19 cross-market crash, something Titan of Crypto calls a “black swan.”

Bitcoin trader: "Imagine being bearish" above $28,600

Another trend line on the radar concerns longer timeframes — the 20-month SMA.

Related: Bitcoin bulls battle to reclaim $30K amid BTC price RSI ‘reset’

This, Moustache notes, has heralded every previous Bitcoin bull market — a monthly candle close above the 20-month SMA has seen every subsequent candle also close above it until the cycle high. Here again, March 2020 forms a fleeting exception to the rule.

“Imagine being bearish, while $BTC holds above the monthly 20 SMA-line,” Moustache commented.

“Once Bitcoin has closed above it, it has NEVER AGAIN fallen below it, until the cycle top. This is exactly how it was in 2016-2018 and 2019-2021.”

The 20-month SMA currently sits at $28,585.

As Cointelegraph reported, downside support remains tied to the 200-week SMA, along with various other daily and weekly trend lines functioning as a line in the sand during Bitcoin’s recent bear market.

Magazine: Should you ‘orange pill’ children? The case for Bitcoin kids books

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 has around four months to go before eclipsing its $69,000 peak if past impulse moves are a guide, says Credible Crypto.

Bitcoin (BTC) will hit new all-time highs in 2023, and October is the favorite month for it, a popular trader says.

In a Twitter update on June 22, Credible Crypto argued that the next four months should deliver the bullish BTC price momentum needed to tackle $69,000.

October "fairly logical" for new Bitcoin all-time highs

Bitcoin has put in solid performance this month, and Credible Crypto is increasingly optimistic for continuation. To do so, BTC/USD needs to present increasingly larger green monthly candles to keep it in line with previous impulse periods.

“Whats clear with any parabolic advance is that momentum increases exponentially and peaks at the top. We can see this in both prior impulsive moves from 3k-14k and from 10k-60k,” he explained.

This time around, Bitcoin has delivered a successful retest of support on monthly timeframes, with $25,000 now possibly a springboard for a new “parabolic advance.”

“So with that in mind, let's take our current situation- monthly retest complete and the largest monthly candle we have seen thus far was a 10k move which broke us above the monthly level of 25k,” he continued.

“This means I would expect that once expansion begins (which it looks like it has) we should see monthly moves of > 10k at a time, easily. From current levels to prior ATH is a $40,000 gap. This gap should then, logically, be covered within a few monthly candles if this is a parabolic advance.”

Timing for such a move remains open, Credible Crypto added, while suggesting October as a “fairly logical guesstimate.”

“With that being said, that's all this is- an estimation based on the logic presented above,” he concluded.

“I am not saying we MUST hit new all time highs by October, I AM saying I do think we will hit new ATH by the end of this year and if someone forced me to pick a month in which I think this will occur it would be October. Let's see how things play out.”

Too early to celebrate?

As Cointelegraph continues to report, other traders are also keen for a return to record BTC price levels.

Related: 3 Bitcoin price metrics showing ‘insane’ similarities to 2020 breakout

At the same time, not everyone believes that the impetus for recent gains — applications by BlackRock and others to launch Bitcoin spot price exchange-traded funds (ETFs) in the United States — will get the green light.

The current make-up of U.S. regulatory oversight means that “near-term” approvals, even for BlackRock, remain less than likely, trading firm QCP Capital warned this week.

BTC/USD traded around the $30,000 mark at the time of writing, according to data from Cointelegraph Markets Pro and TradingView, having cooled upside volatility the day prior.

Magazine: Gary Gensler’s job at risk, BlackRock’s first spot Bitcoin ETF and other news: Hodler’s Digest, June 11–17

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 attempting to cement an inverse head-and-shoulders pattern, which could spark a “sprint” to $40,000.

Bitcoin (BTC) may be in line for a 60% upside if a long-term chart feature stays intact.

In part of his latest analysis on June 8, popular trader Mikybull Crypto flagged encouraging signs on the BTC/USD weekly chart.

Weekly Bitcoin price chart keeps $40,000 on the table

With Bitcoin still wedged in a narrow trading range it entered almost three months ago, market participants have little to go on when it comes to short-term price targets.

Day-to-day performance has offered no decisive trend up or down, and $30,000 remains formidable resistance overhead.

“The market is still in the same position it has been the past few days. Don't get chopped up, place some bids at the extremes and wait,” trader Jelle suggested in advice now typical of the current market perspective.

“Stay focussed on the higher timeframe direction.”

For Mikybull Crypto, however, those higher timeframes point to some much more interesting price action around the corner.

The weekly chart, he argued, shows BTC/USD completing and now retesting an inverse head-and-shoulders pattern.

This is the bullish counterpart to the standard head-and-shoulders pattern, which shows resistance being cemented and is typically followed by downside.

While daily timeframes have seen a bearish head-and-shoulders pattern materialize around April’s $31,000 local highs, the broader trend may yet play out in bulls’ favor.

“Bitcoin is flashing a text book inverse head and shoulders on the weekly TF. Price is currently retesting the Neckline after the breakout,” Mikybull Crypto explained.

“As taught, if the range between the head and neckline is usually the sprint, we are anticipating another 60% rally on BTC.”

That 60% “sprint” would place BTC/USD at around $40,000.

Casting aside rangebound “expectations”

The $40,000 mark and the nearby area are, in fact, already a popular target for various traders.

Related: US Bitcoin supply fell over 10% in the past year — Glassnode

Crypto Kaleo has continued to describe $40,000 as a “magnet” for the market, while Bitcoin price has preserved key support trend lines throughout the three-month range.

In a prediction this week, meanwhile, fellow trader and analyst Credible Crypto said that $40,000 would not form the ceiling for BTC in 2023.

"Expectations: 'The Bitcoin halving is in April 2024. Expect $BTC to go sideways between 20-40k for about 12 months which is when we accumulate as much Bitcoin as we can. Once the halving hits, we start our next bull run to 100k+ into 2025. WAGMI,'" he told followers.

"Reality: BTC makes a new ATH in 2023 leaving the majority sidelined. Not everyone makes it."

Magazine: Bitcoin is on a collision course with ‘Net Zero’ promises

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.

A bold prediction states that BTC price can gain 500% between now and April 2024.

Bitcoin (BTC) price action may lack momentum this month, but one popular analyst is still eyeing new all-time highs.

In his latest analysis, TechDev confirmed that he believes BTC/USD will see a “parabolic top” around the 2024 block subsidy halving.

Can Bitcoin p gain 500% in a year?

Less than twelve months away, Bitcoin’s next halving is already the topic of debate among market participants.

Some argue that the event will lay the foundations for the next all-time high, in line with previous halving cycles.

For TechDev, however, the new BTC price record should come sooner rather later — specifically, in Q2 next year.

The idea was originally covered in a Market Update blog post earlier in May. This week, meanwhile, it was described as his “primary time-based idea.”

A chart uploaded to Twitter showed the path to the Q2 top dotted with resistance lines — Fibonacci retracement levels and the current all-time high from 2021.

Ultimately, BTC/USD should top out at around $160,000, it predicts.

TechDev additionally updated a log scale BTC price prediction which he nonetheless acknowledged was unlikely to come true.

“Not a forecast. Not a prediction. Not even my primary idea,” a prior update from August 2022 stated.

Formed using a simple log curve, the idea puts BTC/USD at a similar price level, but sooner — by the end of 2023.

Update: #Bitcoin on adjusted log time

Time = log(weeks)^3.44

Next period meets curve at 160-180K December 2023.

Observation based on a sample of 2. pic.twitter.com/GH3zjEsdti

— TechDev (@TechDev_52) May 23, 2023

Short-term bullish takes absent

How Bitcoin will behave for the rest of 2023 in the run-up to the halving continues to divide opinion.

Related: Bitcoin Halving: How it works and Why it matters

As Cointelegraph reported, some market participants expect a deeper price correction, with veteran analyst Philip Swift not discounting the chance of a return to $20,000 in the coming months.

After weeks of cooling, few voices are betting on the kind of upside seen in Q1 to make a comeback in the short term.

In ongoing research, popular trader and analyst Rekt Capital reiterated that Bitcoin was failing to keep hold of support levels required for upward continuation.

"BTC continues to reject from ~$27600. Weeks ago, this level was decisively lost as support. And for the past 2 weeks - it is a firm resistance," he tweeted on May 24.

 "$BTC is technically positioned for downside. If BTC cannot reclaim $27600 as support soon, BTC will go lower in time."

An accompanying chart showed BTC/USD behavior on weekly timeframes.

Magazine: Alameda’s $38B IRS bill, Do Kwon kicked in the assets, Milady frenzy: Asia Express

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 halving cycles still dictate potential BTC price highs and lows, Decentrader co-founder Filbfilb says, as he doubles down on $180,000 in 2025.

Bitcoin (BTC) is still on track to hit $180,000 in its next halving cycle, a longtime market participant says.

In new analysis published March 3, Filbfilb, co-founder of trading suite Decentrader, doubled down on his bullish BTC price outlook for the years ahead.

Filbfilb keeps faith in Bitcoin halving cycles

With BTC/USD approaching $30,000, but traders highly suspicious of the 2023 rally, sky-high BTC price predictions have been poorly received.

Two current $1 million forecasts, from ARK Invest CEO Cathie Wood and former Coinbase executive Balaji Srinivasan respectively, continue to divide opinion in the aftermath of the 2022 crypto winter.

Considering whether either has merit, Filbfilb turned to raw math to determine some likely macro tops and bottoms for Bitcoin after its next block subsidy halving.

Due at the end of March next year, the halving will again cut the block reward paid to miners by 50%. In prior four-year cycles after previous halvings, BTC/USD has displayed patterns of behavior which continue to hold true today.

“When using Days from the Bitcoin Halving (where the inflation rate of new Bitcoins is halves); we can see that Bitcoin peaks around 368-550 days post halving and then bottoms 779-914 days post cycle,” Filbfilb summarizes.

Related: Crypto winter can take a toll on hodlers’ mental health

Generating a so-called “price curve,” his analysis shows that it may be possible to get a rough idea of where BTC/USD will top and bottom in the coming halving cycles.

“By combining expected halving dates and days to cycle tops and cycle bottoms alongside extrapolated regression of price data, it is possible to use this model in predicting where Bitcoin price may reside at the peak and trough of future cycles,” he continues.

BTC price to $200,000 or more?

Thus, in line with 2013, 2017 and 2021, 2025 should see a “double top” setup in which Bitcoin peaks above $200,000 twice.

Related: Bitcoin will hit $200K before $70K ‘bear market’ next cycle — Forecast

The corresponding bear market low a year later centers around $50,000, according to the calculations.

While acknowledging that price volatility and relative blow-off top trajectory will decrease over time, Filbfilb reasons that overall global trends towards digital stores of value will aid Bitcoin bulls.

Nonetheless, for his part, he believes that the next cycle will bring a slightly lower high than the numbers suggest — around $180,000, already in play since February.

“I recently stated $180k is the target next cycle; I will stick to that for now,” he concludes.

The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Bitcoin can see its market cap increase 500 times over, Jesse Myers believes, thanks to its inherent scarcity and other traits.

Bitcoin (BTC) can hit $10 million per coin or more as it eats 25% of the global wealth, new analysis has concluded.

In a blog post released on Feb. 16, fund manager and Bitcoin expert advisor Jesse Myers revealed his own “outrageous” BTC price target.

Myers: "Bitcoin could 500x over the coming decades"

Bitcoin may struggle with “brutal” volatility, but hodlers and critics alike should be in no doubt about its long-term price trajectory, Myers says.

Analyzing Bitcoin’s value proposition, he argues that Bitcoin’s ability to appreciate over time means that it is all but destined to suck in value from other asset classes.

Among other reasons, this is because an asset with such appreciation characteristics and increasing scarcity allows it to fulfill the role of “digital gold.”

“Bitcoin has an unthinkable property: it gets more valuable over time. Gold is good at storing purchasing power, but Bitcoin grows purchasing power,” the blog post reads.

“Value stored in Bitcoin becomes worth more over time because of Bitcoin’s design of increasing scarcity – you just have to outlast the (admittedly brutal) volatility along the way.”

Such an idea is not new — it forms the core thesis of many popular takes on Bitcoin, among them Saifedean Ammous’ seminal book, “The Bitcoin Standard.”

Getting down to the numbers, meanwhile, Myers calculates the global allocation into BTC as 0.05% of available wealth as of 2023 — $400 billion.

“That’s 1/2000th of global asset value,” the post continues.

“With that in mind, we have to ask ourselves an important question: when Bitcoin’s mechanics continue to play out (causing it to continue appreciating reliably in value every 4 years), will more than 0.05% of the world’s capital eventually realize it wants to be in an asset like that? I think the only logical conclusion is ‘yes.’”

That realization, Myers forecasts, means that $10 million per bitcoin should be a “conservative estimate.”

“Overall, my personal assessment of where the ceiling is for Bitcoin is simple… it’s very high. Almost to the point that I’m embarrassed to show my analysis,” he concludes.

“My conservative estimates suggest an outrageous full potential for Bitcoin’s price: $10m/Bitcoin, in today’s dollars. To put this another way, I believe Bitcoin’s full potential is to eat ~25% of the world’s value… while today it constitutes just 0.05%. That’s absurd. That means that I believe Bitcoin could 500x over the coming decades, in real (inflation-adjusted) terms.”

ARK Bitcoin "bear case" now $258,000 by 2030

“Absurd” or not, Myers is far from alone in eyeing sky-high Bitcoin price valuations coming true in the coming decades.

Related: Bitcoin must leverage $1T central bank liquidity to beat sellers — Research

Some are even calling for the $1 million mark to hit before the end of this one — ARK Invest, for example, continued to stick by that very prediction throughout the 2022 bear market declines.

In its "Big Ideas 2023" outlook released at the end of January, the investment giant described long-term opportunity as "strengthening."

The firm's "bear case" for 2030, it revealed, still puts BTC/USD at $258,000 by the end of the decade.

The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.