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Cryptocurrency Analyst CryptoCon In his recent market analysis, he stated that the current price of bitcoin is reminiscent of December 2016. He further explained what he meant and offered insight into what to expect from the bitcoin-golden-cross-history/” rel=”nofollow”>The flagship cryptocurrency of the future.
“For bitcoin, it’s like September 2016”
CryptoCon mentioned on an x (formerly twitter) x.com/CryptoCon_/status/1831731628651008049″ rel=”nofollow”>mail It's September 2016 again for bitcoin. In line with this, he commented that the “prophecy of bitcoin's trend strength” has come true. He explained that, just like in September 2016, bitcoin-golden-cross-history/” rel=”nofollow”>bitcoin has fallen into the support zone after bitcoin-breaks-through-69000-setting-new-record/” rel=”nofollow”>The upper middle.
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To further support his stance that the bitcoin-september-blues-will-the-top-crypto-defy-historical-downtrends/” rel=”nofollow”>flagship cryptocurrency is mirroring past trends, he noted that every month had been the same for entries into the support zone for alternate cycles. He also stated that the “3 pattern” has yet to fail, both in the mid-cycle market and the bear market. His accompanying chart showed that bitcoin is currently in the latter part of its bitcoin-accumulating-breaking-74000-bear-scare/” rel=”nofollow”>reaccumulation zonejust before reaching the peak of the cycle, as in the 2016 market cycle.
Following its analysis, CryptoCon boldly claimed that the cycle is not over, leading to the belief that bitcoin will still reach new highs and surpass its current level. bitcoin-breaks-through-69000-setting-new-record/” rel=”nofollow”>All-time high (ATH) $73,000, which it reached in March earlier this year. So far, the cryptocurrency analyst sure that bitcoin price drops are just a minor setback and that the cryptocurrency will still rise to $160,000 at the peak of bitcoin-bull-market-glassnode/” rel=”nofollow”>This bullfight.
CryptoCon also pointed out how bitcoin experienced such hectic and “boring” periods in previous halving cycles just before reaching new ATHs the year following the halving event. The cryptocurrency analyst had Previously predicted that the peak of the cycle would come sometime in November 2025. This projection is also based on bitcoin's price action in previous halving cycles.
More hope for btc investors
bitcoin-rare-buy-signal-130000/” rel=”nofollow”>Cryptocurrency Analyst Mikybull crypto It also recently gave bitcoin investors hope that the worst was almost over for the flagship cryptocurrency. In a x.com/MikybullCrypto/status/1831340287244845410″ rel=”nofollow”>Publication xHe stated that a bitcoin-price-could-rally-to-80500-what-to-happen/” rel=”nofollow”>bitcoin Parabolic Rally is coming like crypto–bitcoin/” rel=”nofollow”>DXY is about to break the macroeconomic bearish flag. The analyst also pointed out that the same scenario occurred in 2017 and 2020.
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In another x.com/MikybullCrypto/status/1831603558610780252″ rel=”nofollow”>Publication x, bitcoin-gets-156000-price-tag/” rel=”nofollow”>Mikybull Cryptocurrency He claimed that the next bitcoin expansion will push its price to $95,000. He added that bitcoin is showing a bull flag While the DXY is in a bearish flag on a macro chart, the crypto analyst is confident that the macro disbelief and fear is ending, and that bitcoin will enjoy its parabolic run when that happens.
At the time of writing, bitcoin is trading around $56,300, down over the past 24 hours, according to bitcoin/” rel=”nofollow”>data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
