2024-8-22 19:30 |
The price of Bitcoin has been trading sideways since March, ranging between $70,000 and $50,000. This direction has been against many analysts’ predictions of a major bull run following the Bitcoin halving. Ash Crypto called this period the “boring phase.”
This phase, according to the expert, comes before and after the halving. In the last two crypto cycles, the “boring” phase happens within the range of 30 to 33 weeks. After this phase, the price started a parabolic move, reaching a new All-Time High.
When Will the Ongoing Boring Phase End?If we are to follow the timings from the past cycles, Ash Crypto sees the cycle ending at the end of September. This suggests that October will be a strong bullish month.
In the past two cycles, BTC spiked by 2,300% and 445% respectively. With reference to that, Ash Crypto is predicting a conservative price of $180,000. He thinks that the price may also spike to $250,000 based on some of the factors below:
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Show more +Show less – When Can BTC Reach a New All-Time High?Based on history, BTC price has reached a new all-time high within 74 and 77 weeks after the halving. Going by this, we may see a cycle around September and October 2025.
Ash Crypto encourages investors to use this period to evaluate their holdings and accumulate more BTC.
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The post Expert Unveils Reasons Behind Bitcoin’s Unencouraging Price Action, Points to When a BTC Breakout Is Expected appeared first on CaptainAltcoin.
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