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<p>The price of Bitcoin has been bearish for the last two days, dropping by around 8%. However, this is also within a more <a href="https://captainaltcoin.com/bitcoin-btc-price-prediction-heres-why-66-8k-could-be-next/" target="_blank" rel="noopener noreferrer nofollow">general consolidation phase</a>, which has been looking more bearish than bullish.</p>
<p>Nevertheless, some top analysts are seeing a major spike that could take the price to $100,000 and $200,000 (6-figures). Let’s look at their perspectives:</p>
<h2 class="wp-block-heading" id="historical-reference-from-past-halving-events">Historical Reference from Past Halving Events</h2>
<p>One of the analysts seeing a major spike coming is <a href="https://x.com/thescalpingpro/status/1828108717600161934?t=efSuqQuLaMRDB2zKKa3zig&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">Mags (@thescalpingpro).</a> His analysis looks into Bitcoin’s historical price movements <a href="https://www.investopedia.com/bitcoin-halving-4843769" target="_blank" rel="noopener noreferrer nofollow">after halving events</a>.</p>
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<p><em><strong>Read Also:<a href="https://captainaltcoin.com/polkadot-at-risk-critical-48-month-support-level-threatened-major-dot-price-crash-looms/" target="_blank" rel="noopener noreferrer nofollow"> Polkadot at Risk: Critical 48-Month Support Level Threatened, Major DOT Price Crash Looms</a></strong></em></p>
<p>The analysis compares Bitcoin’s price surges and timeframes from previous cycles following halving events:</p>
<ol class="wp-block-list">
 <li><strong>2013 Cycle</strong>: After the 2012 halving, Bitcoin surged by over 9,500%, reaching its peak 406 days later.</li>
 <li><strong>2017 Cycle</strong>: Post the 2016 halving, Bitcoin climbed 4,100%, peaking 511 days after the event.</li>
 <li><strong>2021 Cycle</strong>: Following the 2020 halving, Bitcoin gained 636%, with a peak 546 days later.</li>
</ol>
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<p>Mags acknowledged Bitcoin’s current consolidation phase. He said that if the historical pattern continues, we could see a rally that will top out around June to October 2025. This will be around 550 days from now.</p>
<p>Mags sees the possibility of Bitcoin spiking as high as it did in the past. However, he said that just a 300% rally will take Bitcoin to around $200,000.</p>
<h2 class="wp-block-heading" id="imminent-cup-and-handle-pattern-breakout">Imminent Cup and Handle Pattern Breakout</h2>
<p>Jelle, another crypto analyst, also noted that Bitcoin has been trading inside a <a href="https://www.investopedia.com/terms/c/cupandhandle.asp#:~:text=A%20cup%20and%20handle%20is%20a%20technical%20indicator%20where%20the,go%20long%20on%20a%20security." target="_blank" rel="noopener noreferrer nofollow">big cup and handle pattern</a> for the past 3 years.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> is still trading inside this major cup &amp; handle pattern <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f440.png" alt="👀" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>3+ years in the making, it's about time we start making our way towards the target: $100,000+.<br><br>Let's go! <a href="https://t.co/O7BaqXcRfN" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/O7BaqXcRfN</a></p>— Jelle (@CryptoJelleNL) <a href="https://twitter.com/CryptoJelleNL/status/1828319132082659797?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 27, 2024</a>
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<p>His analysis shows that a breakout could soon happen, and this could trigger a rally to at least $100,000.</p>
<p><em><strong>Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
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<p>The post <a href="https://captainaltcoin.com/multiple-btc-price-metrics-point-to-imminent-bitcoin-rally-to-six-figures-despite-ongoing-crypto-market-crash/" rel="noopener noreferrer nofollow">Multiple BTC Price Metrics Point to Imminent Bitcoin Rally to Six Figures Despite Ongoing Crypto Market Crash</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Multiple BTC Price Metrics Point to Imminent Bitcoin Rally to Six Figures Despite Ongoing Crypto Market Crash

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