Trader predicts Bitcoin price will reach $350,000

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Cointime2024/05/12 03:07

By:Cointime

Anonymous cryptocurrency trader Rekt Capital stated that Bitcoin is perfectly repeating the history of 2016, with a downward candlestick appearing below the current re-accumulation range bottom within three weeks after the halving. Rekt stated that the re-accumulation range at this point is any price below $61,081. Timothy Peterson, founder and investment manager of Cane Island Alternative Advisors, pointed out that the price may increase nearly six times by early 2025 as an indicator of Bitcoin's current price from the drop in the all-time high (ATH) chart, which measures the drop in Bitcoin from its peak to its lowest point within a specific time frame. Based on adoption and previous withdrawal patterns, we can speculate that the peak of this cycle within the next 9 months will be between $175,000 and $350,000.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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