Dollar

2024

Parabolic

Bitcoin

<ul>
  
 <li>Bitcoin may see a parabolic rise if the U.S. Dollar Index breaks below a critical support level.</li>   
 <li>Historical halving events have triggered significant Bitcoin price increases, with potential for $145,000 post-2024.</li>   
 <li>A weakening DXY has often aligned with Bitcoin rallies, suggesting a similar trend after the next halving cycle.</li> 
</ul>   
<p>Bitcoin's price movement could be poised for an <a href="https://cryptonewsland.com/bitcoin-surges-to-over-60k-eyes-potential-breakout-as-technical-indicators-align/">upward movement</a> as the U.S. Dollar Index (DXY) shows signs of weakening. According to a tweet by crypto analyst MikybullCrypto, Bitcoin's best days might be ahead as the DXY nears a critical support level. If the index breaks below this support, a parabolic rise in Bitcoin's price could follow.</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/MikybullCrypto/status/1826253000308072481 
 </div>
</figure>   
<h2 class="wp-block-heading" id="h-bitcoin-price-movements-and-halving-events"><strong>Bitcoin Price Movements and Halving Events</strong></h2>   
<p>The relationship between <a href="https://cryptonewsland.com/bitcoins-parabolic-surge-expected-late-september-2024/">Bitcoin's price and halving events</a> has historically played a crucial role in its long-term performance. Notably, Bitcoin has experienced substantial price increases following each halving, with sharp spikes occurring after a period of consolidation. The latest chart analysis suggests that a similar pattern might unfold after the 2024.</p>   
<p>In this context, the chart shows a projected upward trajectory for Bitcoin, potentially reaching $145,000 or more. The green dotted lines on the chart mark previous halving events, emphasizing the impact these events have had on Bitcoin's price movements.</p>   
<p><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeK-DvPBcggIv8eE85-5jB9PaKOqcYHZkBkmTZQN-FqwYZZMEXoTy6AUwHRp80j3D0IJ7qYGhzCwyMd1qlDgv3p3fIe0sf4PDDJvddjueRYnjlK6EECm7CoMZz8p2c5Kmdallll58T_CnFYxIz8XbrNafn5?key=8-YZfAdpilzcxo7cKm3wBA"></p>   
<p>Source: <a href="https://x.com/MikybullCrypto/status/1826253000308072481" target="_blank" rel="noreferrer noopener nofollow">MikybullCrypto</a></p>   
<h2 class="wp-block-heading" id="h-dxy-s-influence-on-bitcoin-s-price"><strong>DXY's Influence on Bitcoin's Price</strong></h2>   
<p>The U.S. Dollar Index (DXY) has also been a key factor influencing Bitcoin's price. The chart reveals that during <a href="https://cryptonewsland.com/bitcoin-enters-bull-flag-pattern-following/">Bitcoin's previous bullish cycles</a>, the DXY tended to consolidate within a specific range, particularly around halving events. Currently, the DXY appears to be heading toward a critical support zone, and a break below this level could further fuel Bitcoin's bullish momentum.</p>   
<p>The chart's lower section highlights the DXY's movements, showing it fluctuating between 80 and 110. Historically, a weakening DXY has often coincided with a rise in Bitcoin's price, suggesting that the next cycle might follow a similar trend.</p>   
<h2 class="wp-block-heading" id="h-projected-bitcoin-performance-after-2024-halving"><strong>Projected Bitcoin Performance After 2024 Halving</strong></h2>   
<p>Looking forward after the 2024 halving, another analysis by QuintenFrancois on X offers insight into <a href="https://x.com/QuintenFrancois/status/1824037120165491167" target="_blank" rel="noreferrer noopener nofollow">Bitcoin's potential performance</a>. The chart compares Bitcoin's price after previous halving events in 2012, 2016, and 2020, scaling these prices to the projected 2024 levels.</p>   
<p><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcy0RfwDbtQ7psfEogEinOQPYK2YanFwP-zdTO9d8zS2V2771vRolFhi2eG85XP2ObHmDtE245ZlnPBUvPOOF-Mw39ETplfMgZwrEsQEB5R29bVt2YzTulDcz0f6Jw6Tan6PXIFMDtGfO2r0Eh5Ekjo8iUl?key=8-YZfAdpilzcxo7cKm3wBA"></p>   
<p>Source: <a href="https://x.com/QuintenFrancois/status/1824037120165491167" target="_blank" rel="noreferrer noopener nofollow">QuintenFrancois</a></p>   
<p>In previous cycles, Bitcoin's price typically began an upward movement around 200-300 days after the halving. The current projection, marked by a "We are here" note, indicates that Bitcoin is nearing a critical point, approximately 60-100 days post-halving. If historical patterns hold, Bitcoin might be on the verge of another substantial rally, potentially mirroring the explosive moves seen in past cycles.</p> 
<p>The post <a href="https://cryptonewsland.com/bitcoins-price-set-to-surge-as/">Bitcoin’s Price Set to Surge as DXY Weakens, Analysts Predict Parabolic Bull Run Ahead</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Bitcoin’s Price Set to Surge as DXY Weakens, Analysts Predict Parabolic Bull Run Ahead

Table of Contents

Crypto News Land

Other articles published on Aug 22, 2024

T͏͏r͏e͏n͏ding Meme͏ ͏Co͏i͏n To ͏In͏vest In Today,͏ T͏hu͏r͏sd͏ay, Augus͏t͏ 2͏2͏ ͏- Dogwifhat, Mog,͏ Shi͏ba ͏I͏nu͏, Th͏e Meme͏ ...

ChainGPT Plans Collaboration with Binance

MoonBag, the Best Crypto Presale for Profits Following COQ’s Potential and BONK’s Web3 Push

77.8% of hacked cryptos never recover from price damages

Pepe Unchained ( $PEPU ) Presale Scam: A Warning to Investors. Source – AltcoinDaily.co

Spot Bitcoin ETFs See Unprecedented Institutional Adoption, Set to Break Records

Join our free newsletter for daily crypto updates!