$BTC will hit $115,000 within the next 3 months. I am not saying it with emotions or supposed values. Today I will explain with facts why I am seeing BTC at $115,000 within the next three months. Here are 5 most important things that indicate BTC can hit $115K:
8 Months Cycle
Halving Year Last Quarter & ETF Buyings
BTC Dominance Attracted More Investors
PI Cycle
Effect Of RSI On Bitcoin Price
Let's start analysing different prospects that can give a signal of #BTC next move:
8 Months Cycle:
If we look at charts then we will find a 8 - Month pattern. Whenever BTC breaks a consolidation/accumulation zone of age 6 or more then 6 months then it pump more than 40% within 2 months. As I mentioned above we will work with facts so let's discuss with an example:
As shown in above chart BTC remained in consolidation zone for more then 6 months from 2023 April 2nd week till 3rd week of OCT and after breakout it pumped by more than 40%. Right now BTC breaked the consolidation zone that it did in the form of bull flag and is now moving up. If we apply previous data here now then it indicates that $BTC can hit $103K within 8 weeks if BTC show 40% gain in price. Some ups or downs are expected in a shorter time frame but overall the next 8 weeks can prove bullish for BTC. Here is analyzed for it also:
Halving Year Last Quarter & ETF Buyings:
Most of the time last quarter of every year (Oct - Dec) proved bullish for BTC. But last quarter of BTC Halving Years proved more bullish. It’s just because of supply reduction and increase in demand. It’s when there was no ETF, no involvement of big money, and government restrictions. Now this year there is huge demand from the ETF. Big money is buying. Governments are backing BTC. Trump, Pro #Bitcoin has been elected. Now just imagine how much demand will be increased. If we look at data then it shows that ETF has bought more then 400K BTC overall since they were launched and now holding 1M+ BTC. Only BlackRock has bought more then 420K since it was launched. Here is more data in form of heatmap:
BTC Dominance Attracted More Investors:
According to 3rd party websites and arkham intelligence most institutions and big entities are willing to buy BTC instead of any other alts. That thing reflects in the form of BTC dominance. You can easily see that since ETF launched, BTC dominance continues to rise. Rise in BTC dominance built interest and confidence in big entities as well as retailers. That indicates clearly BTC will continues rise in the bigger picture. Recently Vaneck CEO said:
“We have a model that assumes that by 2050 Bitcoin becomes a reserve asset that is held by central banks at a 2% weight. In that model we arrive at a $3M price target for Bitcoin.”
It clearly indicates how much big entities confidence has increased. Here is chart of Bitcoin Dominance:
PI Cycle:
PI Cycle is a indicator that offered by glassnode. Basically this is an indicator formed on basis of Moving Averages and historically proved well to predict cycles top. As shown in below chart three waving lines are shown.
Purple line that provides twice of 350 days moving average.
Green line that provides 111 days moving average.
Black line indicates BTC price.
As you can see when green line cross purple line from upward side to downward side then it prove top of that cycle. Right now green line has not crossed from the lower to upward side indicates the real bull run has not started yet. It has to come and after that we see bear cross over and bear market will start. At that time even the bull cross has not happened yet. Bull cross will happen if BTC reach $115K within the next 3 months. So, according to PI cycle indicator we can see BTC at $115k with in next 3 months.
Effect Of RSI On Bitcoin Price:-
RSI is used to detect price momentum. Look at below given chart whenever RSI entered in overbought zone after visiting 40 RSI level we saw a healthy move in BTC.
On 19 Oct 2023 RSI entered in overbought zone and we saw 70% pump in BTC price.
On 09 FEB 2024 it again entered in overbought zone after visiting 40 RSi level and we saw 60%+ bounce in BTC price.
On 06 Nov 2024 it is trying to enter in overbought zone again if it successfully enter we can see at least 50% bounce in BTC price following sequence (70%>>60%>>50%). If it happen we will see BTC around $115K.
In short words BTC is looking well and good in bigger TF and we will see BTC Break recently created ATH and make new ATH again and again. That can led it up-to $100K.
If you find this article helpful then don’t forget to like and follow @P4 Provider for more analysis. Must tell in comment will BTC hit $100K before 2025 or not.
