Bitcoin To $50,000 Or $80,000? Crypto Expert Predicts Where Price Is Headed Next
March 25 2024 - 6:00PM
NEWSBTC
Crypto expert popularly known as KSI has shared his thoughts on how
the Bitcoin price could progress until the peak of this bull cycle.
Based on his prediction, the flagship crypto could experience
significant dips on its way to a new all-time high of
$100,000. $80,000 Could Be Next For Bitcoin KSI mentioned in
an X (formerly Twitter) post that Bitcoin could rise to between
$73,000 and $80,000 from here. However, a correction could quickly
follow, as the crypto analyst remarked that Bitcoin would drop to
between $50,000 and $60,000 afterwards. KSI added that it would be
a “boring red summer,” suggesting that BTC’s price won’t be
encouraging during that period. Related Reading: Ethereum
Sees Notable Rise In Daily Activity, But Why Is Price Down? KSI
claimed that things would then pick up again in the winter. He also
stated that Bitcoin could hit $100,000 by the beginning of 2025 or
even before the end of this year. With his prediction, KSI joins a
list of analysts who have predicted that Bitcoin could hit the
$100,000 mark before the year runs out. Tom Dunleavy, Partner
and Chief Investment Officer (CIO) at MV Capital, previously stated
that BTC would rise to that price level this year. Meanwhile,
Standard Chartered initially predicted that Bitcoin would hit
$100,000 by year-end before taking a more bullish stance and
predicting that the flagship crypto would hit $150,000 by the end
of 2024. What To Expect From BTC’s Price KSI’s prediction
also echoes the sentiments of crypto analyst Rekt Capital. In a
recent analysis, Rekt Capital mentioned that Bitcoin would enter a
“multi-month re-accumulation” after the Bitcoin Halving, which
could last up to five months. The crypto analyst noted that this
period is usually characterized by Bitcoin’s tepid price
movement. Related Reading: Dogecoin Whales Go On Massive
Buying Spree, Here’s How Much They’ve Bought Once that phase was
over, Rekt Capital revealed that Bitcoin would break out from the
re-accumulation area and make a parabolic move. This is said to be
when BTC experiences “accelerated growth into a parabolic uptrend.”
This phase lasts over a year, but Rekt Capital believes it may be
cut in half in this market cycle with a “potential accelerated
cycle occurring right now.” The accelerated cycle he refers to
includes the fact that BTC hit a new all-time high (ATH) before the
Bitcoin Halving. That has never happened in previous market cycles,
raising the possibility of this bull market being largely different
from past ones. At the time of writing, Bitcoin is trading at
around $67,400, up over 4% in the last 24 hours according to data
from CoinMarketCap. BTC bulls struggle to hold price above
$67,000 | Source: BTCUSD on Tradingview.com Featured image from
Forkast News, chart from Tradingview.com
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