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 If history repeats itself, Bitcoin will easily be able to deliver a six-figure BTC Price next cycle, the on-chain indicator says.
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 <p>Bitcoin (BTC) may next be a “sell” at at least $110,000 as its new bull cycle plays out, a classic on-chain indicator suggests.</p>
 <p>Data from on-chain analytics platform Look Into Bitcoin shows Bitcoin’s Terminal Price hinting at a possible six-figure BTC price top.</p>
 <h2 id="btc-price-to-six-figures-next-cycle">BTC price to six figures next cycle?</h2>
 <p>As BTC price action circles its highest levels in 18 months, forecasters are already considering how high it could go in the coming months and even years.</p>
 <p>After the next block subsidy halving in April 2024, targets include $130,000, with late 2025 a popular deadline for the next cycle top.</p>
 <p>Analyzing Terminal Price, Look Into Bitcoin creator Philip Swift described its value as a “simple” method of estimating long-term BTC price peaks.</p>
 <p>Terminal Price is calculated from Bitcoin’s so-called Transferred Price — a value derived by dividing Coin Days Destroyed (CDD) by the existing supply.</p>
 <p>CDD is a popular metric which measures how many dormant days are reset each time an amount of BTC moves on-chain. It is useful as a gauge of hodler intent and activity.</p>
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/10/fc82bd8822b3a38486e426bcf6541ca6.webp">
  <figcaption style="text-align: center;"><em>Bitcoin Terminal Price and Balanced Price chart. Source: Look Into Bitcoin</em>
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 <p>Created by Checkmate, lead on-chain analyst at data firm Glassnode, Terminal Price comes into play at the top of each BTC price cycle.</p>
 <p>Not every all<a rel="noopener noreferrer nofollow" title="-time" href="https://thebittimes.com/tag/time.html">-time</a> high reaches Terminal Price, but BTC/USD did hit the trendline during its 2017 all<a rel="noopener noreferrer nofollow" title="-time" href="https://thebittimes.com/tag/time.html">-time</a> and initial peak in April 2021. The current all<a rel="noopener noreferrer nofollow" title="-time" href="https://thebittimes.com/tag/time.html">-time</a> high of $69,000, seen in November that year, fell short.</p>
 <p>Swift thus suggested that selling “near” Terminal Price would be a suitable policy. Its bear market counterpart, Balanced Price, likewise signals useful market bottoms.</p>
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  <p lang="en" dir="ltr">Buy near Balanced Price, sell near Terminal Price.<br><br>Could it be that simple?#bitcoin cycles. pic.twitter.com/llHytNVuxr</p>— Philip Swift (@PositiveCrypto) November 10, 2023
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 <p>As Terminal Price increases with time, $110,000 may ultimately end up a conservative target should the next all<a rel="noopener noreferrer nofollow" title="-time" href="https://thebittimes.com/tag/time.html">-time</a> high occur only in later in the next cycle.</p>
 <h2 id="waiting-on-a-pi-cycle-crossover">Waiting on a Pi Cycle crossover</h2>
 <p>In further <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> this week, Swift also highlighted the Pi Cycle Top indicator as providing reliable long-term high estimates.</p>
 <p><strong><em>Related:&nbsp;CME tops Bitcoin futures OI as ‘real facts’ drive institutional uptake</em></strong></p>
 <p>Pi uses two moving averages for its forecasts, with their crossovers heralding the next high — albeit with the just days’ notice.</p>
 <p>“The Pi Cycle Top indicator caught so many off-guard last cycle, including myself, by perfectly identifying the top...again! Will it identify the bitcoin top again this cycle?” Swift queried.</p>
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/10/06937ae76faf29b9c639504de608e15d.webp">
  <figcaption style="text-align: center;"><em>Bitcoin Pi Cycle Top annotated chart. Source: Philip Swift/X</em>
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 <p class="post-content__disclaimer">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.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-terminal-price-hints-next-btc-all-time-high-is-at-least-110k-tbt69868.html">https://thebittimes.com/bitcoin-terminal-price-hints-next-btc-all-time-high-is-at-least-110k-tbt69868.html</a></p>

Bitcoin 'Terminal Price' hints next BTC all-time high is at least $110K

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