Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-trends-and-expert-predictions-2/" data-wpel-link="internal">Bitcoin Price Trends and Expert Predictions</a><br></p>
<p><a href="https://en.coin-turk.com/cryptocurrency-enthusiasts-disgruntled-controversial-figure-may-bid-farewell-to-the-isle/" data-wpel-link="internal">Bitcoin</a> <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">price</a> continues to fluctuate, and since March 20, BTC has been stuck below $73,000. Even after a short-term deeper dip, the bulls have returned to the game, but $70,000 has not yet been reclaimed. So, what is the current Bitcoin prediction by a popular crypto commentator?</p> 
<h2 id="bitcoin-expert-prediction">Bitcoin Expert Prediction</h2> 
<p>One of the <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a> experts closely followed by <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a> has published his current price prediction. The opinion, based on a classic formation, promises quite impressive gains for BTC. Known by the nickname Cheds, the analyst talks about a cup-and-handle pattern in the weekly Bitcoin chart he shared on platform X, stating that this formation has formed.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-347946 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/btc-analist.jpg" alt="" width="1511" height="921"></p> 
<p>According to classic chart rules, Cheds expects Bitcoin to rise to as much as $300,000 within about two years. This is a quite ambitious prediction as the unit price increases while the market value reaches even more massive levels, and this requires significant institutional capital inflows.</p> 
<blockquote> 
 <p>“Bull thesis visual for BTC. The measured move for a weekly cup-and-handle targets the peak around 2026.”</p> 
</blockquote> 
<h2 id="2025-and-2026-crypto-predictions">2025 and 2026 Crypto Predictions</h2> 
<p>However, there is a problem here. The formation target focusing on the year 2026 should not occur according to historical data. Analyst Cheds also emphasizes that the price target and timeline are contrary to the two commonly accepted views regarding Bitcoin’s market cycles. The first issue is that the end of the four-year cycle is expected in 2025 according to historical data. The second detail is that in each cycle, the percentage gain of BTC decreases against the growing price.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-347947 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/btc-analist2.jpg" alt="" width="1488" height="920"></p> 
<p>Cheds is hopeful about the short-term outlook since Bitcoin has reclaimed $61,500. At the time the article was prepared, BTC was finding buyers at $63,675, having dropped below $59,000 on May 1. This key area, which we have always highlighted, was strongly defended by the bulls, and we did not see long-term closures below it. BTC set the bottom level at $56,552.</p> 
<blockquote> 
 <p>“On the four-hour chart, BTC is forming a good volume cluster… things started getting interesting after breaking $61,500.”</p> 
</blockquote> 
<p>The analyst thinks that after a brief fake decline, BTC’s price could rise further depending on its response to the resistance at $63,500. For now, BTC continues to maintain its closures above this key region.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-price-trends-and-expert-predictions-2/" data-wpel-link="internal">Bitcoin Price Trends and Expert Predictions</a></h5>

Bitcoin Price Trends and Expert Predictions

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