Bitcoin

<ul><li>Titan of Crypto&#39;s analysis spotlights a historical pattern, suggesting a $48,700 Bitcoin surge before the next halving event.</li><li>Despite a bearish market trend, on-chain data reveals a potential bear trap, with many Bitcoin holders in a profitable position.</li><li>Open interest decline and resistance at the 50-day EMA pose challenges, leaving Bitcoin&#39;s future uncertain amidst mixed signals.</li></ul>Titan of Crypto made a compelling prediction about Bitcoin&#39;s price trajectory, suggesting a potential resurgence to $48,700 before the next halving event. However, analysts question if these predictions can hold as the market grapples with a bearish undertone and decreasing open interest.Cryptocurrency enthusiasts and investors have been keeping a keen eye on the ever-volatile Bitcoin market, and Titan of Crypto&#39;s recent analysis added fuel to the fire. According to the analyst, <a href="https://cryptotale.org/analysts-predict-explosive-bitcoin-price-surge-ahead-of-2024-halving/" rel="noopener noreferrer nofollow">Bitcoin</a> could soar to $48,700 before the next halving event, a price level historically associated with this milestone. Titan of Crypto drew attention to the intriguing correlation between Bitcoin&#39;s price history and Fibonacci retracement levels.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/ccba9b897c334615b7af58aeda25750c.png" />He hinged on the 78.6% Fibonacci retracement level, a well-regarded indicator in the world of technical analysis. He noted that the price reached this level in previous <a href="https://cryptotale.org/analyst-unveils-key-on-chain-fundamentals-for-bitcoin-market-cycles/" rel="noopener noreferrer nofollow">Bitcoin cycles</a> before each halving event. In the first cycle, it took four months, in the second cycle, it was two months, and in the third cycle, it extended to twelve months before the halving, with the next halving just seven months away.Read full article at<a href="https://cryptotale.org/x-analyst-predicts-bitcoin-to-48k-before-next-halving/" rel="noopener noreferrer nofollow"> CryptoTale.</a>

X Analyst Predicts Bitcoin to 48K Before Next Halving

CryptoTale

Other articles published on Sep 25, 2023

Microstrategy Bought 5,445 Bitcoins Since August for Around $147M

This Is The Era Of Decentralized Finance (DeFi)

Groxfy.com: Revolutionizing Grocery Shopping in the UAE

Vitalik Deposits 400 ETH to Coinbase, Total 2421 ETH Sent to Multiple CEXs in 10 Days

How the Fed’s Rate Decisions Could Impact Crypto, Including BNB and VC Spectra Values?

Polygon (MATIC) and Arbitrum (ARB) Enthusiasts Eye the Next Major Opportunity

Join our free newsletter for daily crypto updates!