2024

Bitcoin

Spot

<p>The post <a href="https://coinpedia.org/news/bitcoin-price-prediction-post-halving-mikybullcrypto-predicts-btc-price-target-for-february/">Here’s How Bitcoin (BTC) Price Will Perform in February</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>MikybullCrypto, a leading crypto analyst, predicts Bitcoin’s price could surge to $50,000 before encountering a substantial correction. Meanwhile, the forecast is based on the historical market cycles, macro correction, and pre-halving periods, suggesting a strong chance of Bitcoin making a significant jump soon.</p> 
<h2 class="wp-block-heading" id="h-btc-to-hit-50k">BTC To Hit $50K</h2> 
<p>In a recent post on X, notable crypto analyst MikybullCrypto sheds light on the current market scenario, drawing attention to the Spot ETF launch and its impact, often considered a “sell the news” event.&nbsp;</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> in M time frame closed in doji formation which indicates indecision.<br><br>Supertrend one of my reliable indicators remains in the bearish territory because BTC didn't close above $45k which is going to happen this month.<br><br>1/5 <a href="https://t.co/8AfW7q0VYD">pic.twitter.com/8AfW7q0VYD</a></p>— Mikybull 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f402.png" alt="🐂" class="wp-smiley" style="height: 1em; max-height: 1em;">Crypto (@MikybullCrypto) <a href="https://twitter.com/MikybullCrypto/status/1753095362938540500?ref_src=twsrc%5Etfw">February 1, 2024</a>
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<p>Looking at Bitcoin’s monthly chart, there’s a pattern called a doji, indicating that people in the market are not sure what to do.</p> 
<p>Analysts point out towards Supertrend indicator, a trusted tool for many analysts, which continues to hover in bearish territory. The key factor contributing to this bearish sentiment is Bitcoin’s inability to secure a monthly close above the critical $45,000 mark—an achievement anticipated later this month.</p> 
<p>Delving further into analysis MikybullCrypto highlights historical patterns, pointing out that the Relative Strength Index (RSI) historically reaches around 67 levels in the pre-halving period before a macro correction occurs.&nbsp;</p> 
<p>Meanwhile, the <a href="https://coinpedia.org/news/bitcoin-analyst-kevin-svenson-forecasts-bitcoin-to-reach-60000/">prediction suggests</a> Bitcoin might reach the $50,000 threshold before undergoing a substantial correction.</p> 
<h2 class="wp-block-heading" id="h-bullish-february-march-correction">Bullish February, March Correction?</h2> 
<p>Aligning with MortensenBach’s Bitcoin <a href="https://twitter.com/MikybullCrypto/status/1753095379871322533">seasonality chart</a> MikybullCrypto’s analysis indicates a bullish February followed by a potential correction in March. Currently navigating a consolidation phase, Bitcoin is awaiting key movements.&nbsp;</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> seasonality chart presented by <a href="https://twitter.com/MortensenBach?ref_src=twsrc%5Etfw">@MortensenBach</a> indicates bullishness in Feb followed by correction in March.<br><br>In conclusion, the weekly chart is still my guideline to determine the next movement of Bitcoin.<br><br>5/5 <a href="https://t.co/YUKsZV2Hk6">pic.twitter.com/YUKsZV2Hk6</a></p>— Mikybull 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f402.png" alt="🐂" class="wp-smiley" style="height: 1em; max-height: 1em;">Crypto (@MikybullCrypto) <a href="https://twitter.com/MikybullCrypto/status/1753095379871322533?ref_src=twsrc%5Etfw">February 1, 2024</a>
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<p>MikybullCrypto identifies $44,000 and $41,000 as pivotal levels, determining the cryptocurrency’s next move. These levels serve as crucial indicators, either confirming or challenging the presented data.<br><br>As of now, Bitcoin is trading <a href="https://markets.coinpedia.org/bitcoin/?_gl=1*1djrsgo*_ga*NTQzNDc3MzQ4LjE2OTcxODMzODc.*_ga_RE1GG3FGQW*MTcwNjg1MDc1MS45MS4xLjE3MDY4NTA4MjAuMC4wLjA.">at $42,961</a>, marking a modest 6.9% increase over the past week. Examining the 24-hour trading volume, a decline of 24.1% is noted, with the market cap hovering around $845.12 billion.</p>

Here’s How Bitcoin (BTC) Price Will Perform in February

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