Golden Bitcoin cryptocurrency. New virtual currency concept.
crypto expert pHe is popularly known as K.S.I. bitcoin price This bullish cycle could reach its peak.Based on his predictions, leading cryptocurrencies could experience: a significant drop on the way to New record high of $100,000.
The next Bitcoin could be worth $80,000
KSI mentioned in X (formerly Twitter) post Bitcoin could rise to $73,000 to $80,000 from here. however, Fixes may follow soon, the crypto analyst said that Bitcoin will then fall between $50,000 and $60,000. KSI added that this year will be a “boring red summer”, suggesting that BTC prices are not encouraging during this period.
KSI claimed that the situation will improve again in the winter. He also said that Bitcoin could reach $100,000 by the beginning of 2025 or even by the end of this year. With his prediction, KSI joins the list of analysts who have predicted Bitcoin's potential. Reached the $100,000 mark before the year is over.
Tom Dunleavy, Partner and Chief Investment Officer (CIO), MV Capital. mentioned before BTC will rise to that price level this year.On the other hand, Standard Chartered was originally expected After saying Bitcoin would reach $100,000 by the end of the year, he took a more bullish stance, predicting that the flagship cryptocurrency would reach $150,000 by the end of 2024.
What to expect from BTC price
KSI’s prediction is also in line with the opinion of cryptocurrency analyst Rekt Capital.in recent analysis, Rekt Capital said that after the Bitcoin halving, Bitcoin will enter a “multi-month reaccumulation” that could last up to five months. The cryptocurrency analyst noted that this period is usually characterized by slow Bitcoin price fluctuations.
Once that phase ends, Rekt Capital revealed that Bitcoin will break out of the reaccumulation region and make a parabolic move. This is said to be when BTC will experience “accelerated growth into a parabolic uptrend.” This stage lasts more than a year, but Rekt Capital believes that this stage could be cut in half. market cycle “The cycle may now accelerate.”
The acceleration cycle he mentions involves BTC Updated all-time high (ATH) in front of Bitcoin halving. This hasn't happened in previous market cycles, raising the possibility that this bull market will be very different from previous ones.
At the time of writing, Bitcoin is trading at around $67,400, up more than 4% in the past 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
