Bitcoin’s Swift Rebound: Analyst Predicts Timeline for Next All-Time High Amid Rapid Recovery
In a recent YouTube video, an influential crypto analyst from InvestAnswers confidently outlines his forecast for Bitcoin’s surge to a new all-time high, setting a seemingly achievable target of $100,000 for the cryptocurrency in its upcoming bull run.
The analyst suggests that Bitcoin reaching $45,000 before Christmas appears highly probable and could even extend to $50,000. Based on historical data, the trader calculates an average of 175 days from Bitcoin’s last three halving events to reach new all-time highs. With the next halving projected for April 17th, 2024, the analyst anticipates Bitcoin hitting $69,000 or potentially exceeding that figure before October 8th, 2024.
Notably, the analyst highlights Bitcoin’s accelerated recovery compared to past cycles, emphasizing the current bullish momentum in the market. Bitcoin is currently trading at $43,828, showcasing a remarkable 164% increase since the beginning of 2023 but still lingering around 36% below its previous all-time high of over $69,000 in November 2021.
Clever Robot News Desk 8th December 2023
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