Based

Rally

Bitcoin

<p>In a bold forecast, a crypto analyst predicted that <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-analyst-btc-cycle/" rel="nofollow noopener" target="_blank">Bitcoin (BTC)</a>, the world’s largest cryptocurrency will witness a massive 500% surge to $330,000. Considering how ambitious this price target is, the analyst’s <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-bullish-momentum-above-bearish-trendline-is-60152-mark-within-reach/" rel="nofollow noopener" target="_blank">bullish projection</a> has caught the attention of various members of the crypto community.&nbsp;</p> 
<h2 id="analyst-predicts-bitcoin-s-rally-to-330-000">Analyst Predicts Bitcoin’s Rally To $330,000</h2> 
<p>On July 10, Arsen Thagapsov, a crypto analyst expressed bullish optimism for <a href="https://www.newsbtc.com/news/biggest-bitcoin-bull-run-ever-analyst/" rel="nofollow noopener" target="_blank">Bitcoin’s future outlook</a>, foreseeing the price of the cryptocurrency surging to $330,000 in the <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-analyst-btc-cycle/" rel="nofollow noopener" target="_blank">2024 bull cycle</a>. In his X (formerly Twitter) <a href="https://x.com/satoshibaggins/status/1810986413435097412?s=46" rel="nofollow" target="_blank">post</a>, the analyst has based his ambitious forecast on a recurring pattern identified in Bitcoin’s historical price movements.&nbsp;</p> 
<p>Sharing a price chart depicting BTC’s bull cycles and their respective record highs, Thagapsov disclosed that Bitcoin has continually experienced significant price increases to new all-time highs after every four-year cycle. These cycles also coincide with <a href="https://bitcoinist.com/bitcoin-price-past-halving-cycles/">Bitcoin’s halving events, </a>which occur every four years.&nbsp;</p> 
<img loading="lazy" decoding="async" class="wp-image-310132 size-medium" src="https://bitcoinist.com/wp-content/uploads/2024/07/Bitcoin.jpg?w=512&amp;resize=512%2C397" alt="Bitcoin" width="512" height="397" data-recalc-dims="1"> 
<p>To prove this point, the analyst outlined <a href="https://www.newsbtc.com/news/quant-striking-resemblance-2017-2021-bitcoin-cycles/" rel="nofollow noopener" target="_blank">Bitcoin’s previous bull cycles</a> in 2012, 2016 and 2020. According to Thagapsov, in 2012, BTC rose from a modest price of $12 to $1,000, marking an outstanding 9,000% increase in its value.&nbsp;</p> 
<p>Following this cycle, the cryptocurrency witnessed another massive price surge from $650 to $19,000 in 2016, highlighting a substantial 3,000% spike. In 2020, which marked one of the largest BTC rallies ever recorded, despite the <a href="https://www.newsbtc.com/news/crypto-countdown-2-4b-in-bitcoin-and-ethereum-options-set-to-expire-market-volatility-ahead/" rel="nofollow noopener" target="_blank">market volatility</a> at the time, Bitcoin jumped from $8,000 to a previous all-time high of $69,000, reflecting a massive 1,200% price surge.&nbsp;</p> 
<p>Based on this reoccurring bullish trend, Thagapsov predicts that BTC will experience a 450% price increase to $330,000 in the 2024 market cycle. Between each <a href="https://www.newsbtc.com/news/glassnode-consistency-bitcoin-cycles/" rel="nofollow noopener" target="_blank">four-year cycle</a>, Thagapsov has counted approximately 800 days before a <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-bull-run-economic-echoes-1930-1970-arthur-hayes/" rel="nofollow noopener" target="_blank">Bitcoin bull run</a>. Based on his price chart, the market has already entered a bull run and is slowly gaining momentum to potentially hit new all-time highs soon.&nbsp;</p> 
<h2 id="update-on-btc-s-price">Update On BTC’s Price</h2> 
<p>Despite Thagapsov’s optimistic forecasts, Bitcoin has been on a <a href="https://bitcoinist.com/bitcoin-price-crashed-58000/">major downward trend</a>, encountering substantial volatility and <a href="https://bitcoinist.com/bitcoin-price-at-risk-further-correction-heres-how/">price declines</a> amid ongoing market instability. While various analysts have <a href="https://www.newsbtc.com/news/bitcoin-to-200000-post-halving-skybridge/" rel="nofollow noopener" target="_blank">predicted</a> massive rallies for BTC in this bull cycle, recent weeks have seen the cryptocurrency’s price value falling below the $60,000 mark.&nbsp;</p> 
<p>According to crypto analyst, Ali Martinez, the crypto market is <a href="https://x.com/ali_charts/status/1811873061399908685?s=46" rel="nofollow" target="_blank">displaying</a> a feeling of extreme fear, potentially attributed to Bitcoin’s waning value and <a href="https://www.newsbtc.com/bitcoin-news/total-depletion-of-german-bitcoin-reserves-wallet-left-with-zero-btc/" rel="nofollow noopener" target="_blank">large-scale liquidations</a>. As of writing, BTC is trading at $58,041, marking a 14% price drop over the past month, according to CoinMarketCap.</p> 
<p>While <a href="https://bitcoinist.com/bitcoin-price-tragic-june/">Bitcoin’s underperformance in June</a> and July may have ruffled a few feathers, Martinez has <a href="https://x.com/ali_charts/status/1811418952255623633?s=46" rel="nofollow" target="_blank">revealed</a> that the cryptocurrency’s accumulation trend score is finally looking positive. The analyst <a href="https://x.com/ali_charts/status/1811418952255623633?s=46" rel="nofollow" target="_blank">pinpointed</a> a notable shift in investors’ sentiment, highlighting that many investors are now actively accumulating BTC after an extended period of distribution in April.&nbsp;</p> 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/pLvBMoqk/" alt="Bitcoin price chart from Tradingview.com" width="3286" height="1518">

Crypto Analyst Says Bitcoin Price Will Surge 500% To $330,000, Here’s When

Innholdsfortegnelse

Bitcoinist

Andre artikler publisert på 13. juli 2024

Germany’s Bitcoin sell-off – Assessing the impact of 50K BTC being offloaded

Bitcoin Price Surges Over Weekend

Cosmos and Bittensor’s Declining Prices Lead Investors to MoonBag’s Best Presale in July 2024!

Whale Litecoin Menggila: Transaksi US$2,85 Milyar Setiap Hari!

Mafia Tate (MAFTATE) Solana Memecoin Will Skyrocket Over 14,000% Before KuCoin Listing, While SHI...

Donald Trump Wins Elon Musk’s Election Backing Despite Previous Denials

Bli med på vårt gratis nyhetsbrev for daglige kryptooppdateringer!