bullish

Bitcoin

Gold

April

when

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-predictions-signal-major-surge" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Predictions Signal Major Surge</a><br></p>
<p style="text-align: justify">Bitcoin (BTC) has shown signs of recovery following a period of consolidation. On August 9, notable <a href="https://en.bitcoinhaber.net/cryptocurrency-price-trends-and-strategic-forecasts" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto analyst</a> TradingShot shared a significant forecast regarding Bitcoin’s price movements on TradingView. According to the analysis, based on the “Golden Ratio” correlation, the leading cryptocurrency might soon enter a major upward trend.</p>
<h2 id="what-is-the-golden-ratio-correlation">What is the Golden Ratio Correlation?</h2>
<p style="text-align: justify">TradingShot’s Golden Ratio analysis derives from the relationship between Bitcoin and the Gold/Russell 2000 (GOLD/RUT) ratio. Historically, this correlation has been a reliable predictor of Bitcoin’s parabolic rallies. The analysis suggests that this chart pattern is re-emerging, indicating a significant price increase may be imminent.</p>
<h2 id="why-does-the-gold-rut-ratio-matter">Why Does the GOLD/RUT Ratio Matter?</h2>
<p style="text-align: justify">The correlation between Bitcoin’s price movements and the GOLD/RUT ratio measures the relationship between Gold and the Russell 2000 Index. Historically, when the GOLD/RUT ratio peaks and begins forming lower highs, Bitcoin often enters a parabolic rally phase. This cyclical pattern suggests that a decline in the GOLD/RUT ratio could signal a strong upward trend for BTC.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<p style="text-align: justify">– Monitor the GOLD/RUT ratio as a potential early indicator of Bitcoin’s price direction.<br> – Anticipate potential short-term price targets of $80,000 to $85,000 if the bullish phase begins.<br> – Consider long-term targets between $100,000 to $120,000 if a parabolic rally gains strong momentum.</p>
<p style="text-align: justify">Following the block reward halving in 2016, Bitcoin initiated a significant upward movement, reaching a historical peak of nearly $20,000 during the 2017 <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">bull market</a>. Similarly, after the 2020 block reward halving, Bitcoin’s rally surged further, reaching approximately $68,000 by the end of 2021. These past patterns indicate that the current cycle could conclude with another major rally, consistent with historical precedents.</p>
<p style="text-align: justify"><a href="https://newslinker.co/can-artificial-intelligence-achieve-consciousness/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">Recent data</a> points to a possible peak in the GOLD/RUT ratio around April 2024. If the ratio begins to form lower highs, Bitcoin might enter the most aggressive phase of its bull cycle, characterized by sharp and rapid price increases. In this scenario, Bitcoin’s short-term target could be between $80,000 and $85,000, surpassing the previous peak of $73,000.</p>
<p style="text-align: justify">In the long run, if the parabolic rally gains significant momentum, Bitcoin could reach between $100,000 and $120,000 in this cycle. This target range is based on the historical magnitude of Bitcoin’s price movements, especially following block reward halving events.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-predictions-signal-major-surge" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Predictions Signal Major Surge</a></h5>

Bitcoin Predictions Signal Major Surge

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