MJP –
The recent price spike of Bitcoin has brought the cryptocurrency close to $64,000, surpassing a mark that experts believe will further boost gains.
Michaël van de Poppe, a cryptocurrency strategist, recently stated that Bitcoin (BTC) might potentially hit new record highs if it manages to surpass $62,000.
Within what time frame does he anticipate that Bitcoin will reach a new all-time high?
Roughly two weeks.
Having the market break out is fantastic.
Bitcoin is surging higher, approaching the last hurdle at $62,000.
There will likely be a new all-time high (ATH) in September if that fails. I am anticipating a significant influx of favorable data regarding the ETF on August 22nd.
Bitcoin is interesting because, barring a breakdown of $62,000, we could expect to see a new all-time high in the next two weeks.
Bitcoin (BTC) is entering a bullish market trend, according to another cryptocurrency trader and analyst.
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The analyst, who uses the pseudonym “Rekt Capital” and has 82,700 subscribers on YouTube, predicts that Bitcoin will likely hit new ATH levels by the end of September based on trends observed in Bitcoin’s market cycles from 2016 and 2020.
This bull market phase has likely already begun, but there is much more to come. It’s been 126 days since the halving, so there’s still more than a month to go.
In other words, we would break out in late September after 160 days. That achievement was achieved after 150 days in 2016.
In 2020, the same thing took 160 days.
We should anticipate a historically recurrent breakout from the re-accumulation phase following the halving, which would usher in a post-halving parabolic upside phase, about 150 to 160 days later.
As of this publishing, the price of one bitcoin is $63,710.
