đ„ Historical Cycles in Bitcoin (BTC): Amazing Price Forecast for April!
Time is running out until Bitcoin (#BTC ) falls to the fourth half. As early as April 2024, the block mining reward for miners will drop from 6.25 btc to 3.125 BTC. According to some analysts of the cryptocurrency market, the current period may be the best time to accumulate and use the dollar cost averaging (DCA) strategy.
Historical Data #Bitcoin
If historical data is repeated and the supply shock re-affects the economy and valuation of Bitcoin, the largest cryptocurrency may soon experience a parabolic rise. In general, the 12-18 month periods after halving are characterized by a large appreciation in the BTC price.
$120,000 Target in BTC
The senior analyst points to a pattern that he has noticed in 3 consecutive Bitcoin cycles. Dec.December. According to the analyst, in 2017, 2020 and the current position, Bitcoin experienced a similar correction in the form of a bull flag. These corrections were smaller and could also be the last opportunity to buy BTC before the subsequent parabolic surge. The expert uses external Fib backtracking to identify a potential target for Bitcoin's increase in the current cycle. He also observed that in both previous cycles, the peak of the bull market was reached with an extension of 6,618 Fib.
Therefore, if history repeats itself, the $ 120,000 level may constitute a target for the BTC price. As a result, analysts are proposing a dollar cost averaging strategy before the fourth Bitcoin is halved in April 2024. Technical analyses show similar price patterns in past cycles, indicating that $120,000 could be a potential target
