{"id":3009,"date":"2024-09-02T23:00:01","date_gmt":"2024-09-02T23:00:01","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=3009"},"modified":"2024-09-02T23:00:01","modified_gmt":"2024-09-02T23:00:01","slug":"bitcoin-decline-not-a-cause-for-alarm-100000-still-in-the-cards-analyst-says","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=3009","title":{"rendered":"Bitcoin Decline Not A Cause For Alarm, $100,000 Still In The Cards, Analyst Says"},"content":{"rendered":"

The Bitcoin recent price volatility<\/a>, including a crash below $50,000 last month, has significantly slowed down the momentum of the bull run many analysts are anticipating<\/a>. Despite the price lull, a certain crypto analyst believes that the Bitcoin bull run is still on track, predicting a sharp rise to over $100,000 once current price corrections stabilize.\u00a0<\/p>\n

Bitcoin Bull Run Still Going Strong<\/h2>\n

Popular crypto analyst, CryptoCon sees Bitcoin\u2019s recent price drop<\/a> as a minor setback, suggesting that the cryptocurrency\u2019s highly anticipated bull run<\/a> remains unfazed. The analyst took to X (formerly Twitter) on August 28 to make a bullish forecast <\/a>for Bitcoin, based on its current price behavior based on historical trend patterns.\u00a0<\/p>\n

CryptoCon indicated that recent market events or news involving Bitcoin\u2019s price decline<\/a> and market volatility may be distracting for many investors, causing them to lose sight of the big picture. The analyst shared a detailed Bitcoin price chart <\/a>depicting all the halving cycles from 2013, each clearly displaying a similar bullish pattern.\u00a0<\/p>\n

The analyst Identified a recurring pattern in Bitcoin\u2019s price movements before and after each halving cycle, highlighting an initial period of decline followed by an intense bullish momentum<\/a>. CryptoCon disclosed that in August 2012, Bitcoin\u2019s price witnessed a significant bearish dip before climbing to new highs in 2013.\u00a0<\/p>\n

This trend was evident in the subsequent halving cycles<\/a>, with August 2016, and 2020 marked by extended periods of \u201cboring\u201d price action before a dramatic increase to new peaks in 2017, and 2021, respectively. CryptoCon has described this distinctive bullish year as the \u201cRed Year.\u201d<\/p>\n

The analyst describes 2024 as a \u201cBlue Year\u201d characterized by stable or unexciting price action. He indicated that this period is likely a build up or preparation phase before a \u201cRed Year\u201d where Bitcoin\u2019s price<\/a> hits a new all time high.<\/p>\n

Drawing from his analysis of Bitcoin\u2019s historical halving cycles<\/a>, CryptoCon has notably raised his conservative estimate for the Bitcoin cycle top, adjusting the range from $90,000 \u2013 $130,000 to $110,000 \u2013 $160,000.\u00a0<\/p>\n

Other Analysts Share Similar Sentiment<\/h2>\n

Another crypto analyst identified as \u2018Kyledoops\u2019 on X shares a similar bullish sentiment for Bitcoin\u2019s future price outlook. According to Kyledoops, Bitcoin\u2019s net capital inflow is slowing down<\/a> significantly, indicating a delicate situation where investors\u2019 gains and losses are nearly balanced.\u00a0<\/p>\n

He revealed<\/a> that historically, periods of decreased capital inflow, like what Bitcoin is experiencing currently, have often been followed by significant price fluctuations and volatility spikes<\/a>. However, this lull also hints that huge price swings could be just around the corner for Bitcoin.\u00a0<\/p>\n

As of writing, the price of Bitcoin is trading at $58,051, reflecting a steep 9.07% decline over the past seven days, according to CoinMarketCap. Despite persistent bearish trends, the pioneer cryptocurrency remains intent on reaching and stabilizing above the $60,000 price mark.\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

The Bitcoin recent price volatility, including a crash below $50,000 last month, has significantly slowed down the momentum of the bull run many analysts are anticipating. Despite the price lull, a certain crypto analyst believes that the Bitcoin bull run is still on track, predicting a sharp rise to over $100,000 once current price corrections […]<\/p>\n","protected":false},"author":0,"featured_media":3010,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3009","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/3009"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3009"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/3009\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/3010"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}