The cryptocurrency market pulled back after an upward move. In this process, Bitcoin’s price movements attract attention. The sales that started after the Spot Bitcoin ETF approval continue, although they have decreased. However, analysts’ Bitcoin forecast is positive. Moreover, Crypto Capo, who said that Bitcoin will drop to 15 thousand dollars, also points to the highs.
Bitcoin Accumulation Trend Score is at the highest level in 3 years
In a very important development for the cryptocurrency world, Bitcoin (BTC) has been experiencing one of the most significant accumulation streaks for nearly three years. Thus, Bitcoin reached the highest level in the last three years in the Accumulation Trend Score. Respected crypto analyst Ali Martinez noted this trend. In this regard, he underlined that the confidence of larger organizations in the cryptocurrency market has increased. Martinez shared the following assessment:
Bitcoin has been witnessing one of the most significant accumulation streaks for almost 3 years. In particular, the Accumulation Propensity Score has been close to 1 for the last 4 months, indicating that larger institutions are accumulating BTC. This trend shows strong confidence in the market!
Meanwhile, Bitcoin whales have been increasing their holdings significantly lately. Currently, approximately 67 startups have assets of 1,000 BTC or more. This represents a significant 4.50% increase in assets in just two weeks. This increase in accumulation by institutional players underscores the growing optimism about Bitcoin’s enduring potential. As institutional interest in Bitcoin grows, observers are following these developments closely.
Bitcoin prediction from Michaël van de Poppe
The analyst predicts that Bitcoin (BTC) will retest a higher level before the halving event in April, when miners’ rewards will be halved. Over the same period, he predicts altcoins will outperform the leading crypto. The analyst makes the following statement regarding his prediction:
Bitcoin has increased liquidity above the high and will likely consolidate. Overall, a new test of $48,000-$50,000 seems likely before the halving. Altcoins will largely outperform during this time.
The analyst also lays out a longer-term outlook for Bitcoin. He predicts that BTC will hit an all-time high in 2025 after breaking out of the 2024 trading range. In this context, Michaël van de Poppe said, “This scenario is still valid for Bitcoin.” says. According to his chart, the analyst expects Bitcoin to reach $68,000 in the first half of next year. He also predicts that Bitcoin will rise to $50,000 before the halving. However, it suggests that it will then drop to $39,129 before resuming upward momentum.
Chronic bear analyst also expects 50 thousand dollars for Bitcoin
Another bullish prediction about the leading crypto came from chronic bear analyst Crypto Capo. Capo’s Bitcoin prediction is also in line with Michaël van de Poppe’s prediction in terms of bullish target. The analyst expects Bitcoin to rise to 50 thousand dollars in the coming days. Moreover, again in line with Van de Poppe, he predicts that the enthusiasm in altcoins will increase with this rise. In this context, Capo makes the following statement:
Bitcoin has managed to show a strong upward reaction in recent days. Currently, BTC has retreated slightly from the $44,000 and $45,000 resistance levels. I think this was the first subwave of the fifth wave of the major bullish wave move. Therefore, Bitcoin can easily reach $50 thousand in the next few days.
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