Cheese

2024

Pizza

Bitcoin

Bitcoin prices could be set for a significant surge if historical market cycle patterns are any indication. 
Looking back at the previous two cycles, we can see a potential trajectory for BTC prices once the previous all-time high is surpassed. In 2013, Bitcoin reached a peak of around $1,130. It took until March 2017 for this level to be broken again, but in the following three months, BTC prices doubled. 
Similarly, after the 2017 all-time high of $20,000 was surpassed in December 2020, BTC prices doubled within a month. 
Given this pattern, Bitcoin’s 2021 all-time high of $69,000, which was exceeded in March, could suggest prices might double to around $140,000 in the next few months if the cycle history repeats. 
This rapid ascent would mark another astonishing milestone in Bitcoin’s volatile journey, captivating both investors and skeptics alike.&nbsp; 
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 In 2017 the price of Bitcoin doubled in just 4 weeks after it established brand new all time highs. In 2021 the price of Bitcoin doubled in just 4 weeks after it established brand new all time highs. In 2024 the same action would imply a $138,000 price by the end of June.🚀🌛 <a href="https://t.co/4kOBPa6y11" target="_blank">pic.twitter.com/4kOBPa6y11</a>— alphanalysis.io (@Sawcruhteez) <a href="https://twitter.com/Sawcruhteez/status/1793344292905501140?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 22, 2024</a>
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Analyst Will Woo also <a href="https://x.com/woonomic/status/1793207316281782637" target="_blank" rel="noreferrer noopener">shared</a> a similar perspective on May 22, on Twitter, stating, “While everyone was freaking out that<a href="https://x.com/hashtag/Bitcoin?src=hashtag_click" target="_blank"> </a>Bitcoin price was not rising the last 2 months, available BTC was quietly being scooped up, and importantly without paper BTC printed in its place.” 
He added, “Last time I’ll say it… It’s only a matter of time before BTC squeezes past all-time-highs.” 
Glassnode analyst James Check remarked that the market is still far from true euphoria. With the cryptocurrency market ever-evolving, such a surge could ignite renewed fervor and speculation, underscoring Bitcoin’s unpredictable and thrilling nature. 
Bitcoin prices are currently hovering near their all-time high from November 2021, creating a strong support level. The asset saw a minor dip of 0.5% today and was trading at $69,500 during the Thursday morning session in Asia. 
If Bitcoin drops from this point, it could find support at $67,000. However, a move upward could see it encounter resistance at $71,000. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/05/22/bitcoin-pizza-day-where-cheese-meets-crypto/" target="_blank" rel="noreferrer noopener">Bitcoin Pizza Day: Where Cheese Meets Crypto Commerce</a> 
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Historical Trends Suggest Bitcoin Could Reach $140K Fast

The Crypto Times

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