Reputed cryptocurrency trader Tardigrade, in his tweet Bitcoin (BTC) He expressed some interesting thoughts about the price.
Analyst Reveals His Reflections on Top and Bottom Price of the Next Bitcoin (BTC) Bull
Trader Tardigrade claimed that Bitcoin’s apparent stochastic nature shows that the next bull season will peak at $200,000 and bottom at $70,000:
“The distinctively structured Bitcoin showing stochastic behavior indicates that the next ATH will be at 200K and the next base at 70K.”
The stochastic oscillator is a volatility tool that compares closing prices with historical averages. This price prediction is derived from analysis of Bitcoin’s stochastic oscillator, which aligns with high and low cycles in BTC/USD. Currently, the indicator is showing the new low.
#Bitcoin well-formed structure with stochastic behavior indicates that the next ATH will be at 200K and next floor will be at 70K.#BTC #crypto pic.twitter.com/XbggyjMwhc
— Trader Tardigrade (@TATrader_Alan) January 27, 2023
According to the chart he shared, the analyst claims that a new all-time high will be reached with $ 200,000 in 2025, and a new bull will start at the end of 2026 after the level of $ 70,000.
For many, BTC price action is still tied to Bitcoin’s four-year halving cycle. The resulting price pattern reveals an “all-time high year” every four years, with 2025 next.
According to Alan, Bitcoin’s block incentive halving will occur in 2024, and the road to $200,000 will be clear from then on.
Only 32 BTC halving events will occur. When all of this happens, there will be no more halvings and no more BTC as the maximum supply has been reached.
*Not investment advice.
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