Trader predicts Bitcoin price will reach $350,000
Bitcoin’s price chart is similar to the one it saw just weeks after the 2016 halving and is currently hovering near a local bottom, according to cryptocurrency traders.
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Bitcoin’s price chart is similar to the one it saw just weeks after the 2016 halving and is currently hovering near a local bottom, according to cryptocurrency traders.
BTC Hits New Two-Year High: Surges to $59,485, nearing ATH. Breaks records against multiple fiat currencies. Bullish momentum expected amid upcoming halving.
Scott Melker believes that during the last halving cycle, the price of Bitcoin rose from a high of $20,000 to a high of $69,000, an appreciation of 250.86%. If a similar trend emerges, “Bitcoin will be at $240,000.”
Bitcoin-centric firms MicroStrategy and Coinbase witnessed substantial pre-market gains as BTC crossed $45,000. While Coinbase's stock surged by 6.4%, MicroStrategy's shares rose by 9.14%. The contrasting trend of these companies compared to year-end struggles hints at the potential impact of the spot Bitcoin ETF approval buzz.
The software company also sold a small amount of the cryptocurrency for the first time.
A casual dash over the $25,000 mark is fully retraced as weekend trading produces some classic volatility.
A push towards the top of the intraday trading range places Bitcoin in line for a bull flag on daily timeframes.
Relief endures despite a U.S. trading holiday, but worries over waning momentum in stocks means the short-term outlook remains gloomy.
Bitcoin SV joins the hard fork in posting dismal price performance as the dust settles on the Terra UST debacle.