Price: $0.19143 -2.8767%
Market Cap: 28.08B 1.1252%
Volume (24h): 4.45B 0.2%
Dominance: 1.1252%
Price: $0.19143 -2.8767%
Market Cap: 28.08B 1.1252%
Volume (24h): 4.45B 0.2%
Dominance: 1.1252% 1.1252%
  • Price: $0.19143 -2.8767%
  • Market Cap: 28.08B 1.1252%
  • Volume (24h): 4.45B 0.2%
  • Dominance: 1.1252% 1.1252%
  • Price: $0.19143 -2.8767%
Home > Information news > Bitcoin Could Hit $100,000 This Cycle Top: Analyst Shares Timeline for BTC to Reach $1,000,000

Bitcoin Could Hit $100,000 This Cycle Top: Analyst Shares Timeline for BTC to Reach $1,000,000

Release: 2024/02/01 06:12 Reading: 380

Original author:CaptainAltcoin

Original source:https://coinmarketcap.com/community/articles/65baa0d999f6081341505c7a

The outlook for a sustainable Bitcoin price bottom remains uncertain, according to new analysis from trader CryptoCon, who spots unresolved technical risks despite nascent stabilization signs.

CryptoCon maintains his long-term bullish outlook anchored around the BitX model, which forecasts parabolic upside cycles based on lengthening time horizons:

“BitX shows how I believe #Bitcoin price moves up by multiples of 10X. It remains right on track along the projected curve and says that Bitcoin should be at least 100k for this cycle top.”

The model asserts that Bitcoin tops out around $100K this cycle. And fitting historical data patterns, reaching the next magnitude level at $1 million requires four more halving cycles and over 16 years of maturation or by November 28th, 2041.

Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger!

The key? Getting in early, especially during the IDO phase. Get in on NuggetRush now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the current ICO prices!

Show more +Show less –

Near-Term Shows Indecision

However, while multi-year projections stay ambitious, trader Mags highlights that near-term uncertainty persists given Bitcoin’s trouble building conviction:

“Bitcoin about to close another Month in Green Out of the past 13 months, Bitcoin has closed 10 candles in the green and only 3 in red. This clearly indicates that Bitcoin is super stronger and is in a macro uptrend. Any Pullback / Red Months are for buying”

So in essence, Bitcoin shows evidence of broader basing and mean reversion cycles, enabling exponentially higher moves over decades. But its struggle to reclaim next resistance means potentially more volatile consolidation lies ahead before the next growth wave towards $100K materializes. Still, data argues the long-term outlook remains decisively bullish.

You may also be interested in:

Check NuggetRush ($NUGX)

Sponsored: Invest Responsibly, Do Your Own Research.
Being in its ICO stage, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
A unique play-to-earn gaming platform in the memecoin market
The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
Fosters a strong community by encouraging physical meetups among members
NFT Integration with Prominent Characters

The post Bitcoin Could Hit $100,000 This Cycle Top: Analyst Shares Timeline for BTC to Reach $1,000,000 appeared first on CaptainAltcoin.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.