Bitcoin, Ethereum and Co. has been weakened for many weeks. However, this should be over soon, as top analysts report. Are we really facing an explosion or is there still a gentle breeze?
Bitcoin and altcoins like Ethereum have been stagnant for a while, neither moving up nor down. This may soon be coming to an end – signs of a massive rally are mounting. A top analyst therefore expects an “explosive eruption” in the near future.
When Will Bitcoin Rise Again?
Whether Bitcoin (BTC), Ethereum (ETH) or Altcoins like Binance Coin (BNB) and Solana (SOL): Wherever you look, the performance of most cryptocurrencies has been disappointing – and has been for weeks. Bitcoin, for example, is failing to break out of its $19,000-$20,400 range, while smart contract platform Ethereum is holding just above the $1,250 support at $1,285. However, the relaxed price action should soon be over because: The bullish signals are increasing.
The popular crypto strategist Michaël van de Poppe emphasizes, for example: “There is a very big movement for Bitcoin on the horizon.” Background: The so-called Bitcoin Volatility Index (BVOL) is just under 25. According to van de Poppe, this is historically a “guaranteed recipe for success for massive volatility”. In fact, in 2018 bitcoin crashed to $3,000 as a result, while in 2019 it rose from $4,000 to $14,000 – and in 2020, the BVOL value below 25 marked the start of the 2021 bull run.
“There is a very big move on the horizon #Bitcoinas $BVOL falls below 25. Historically, that’s a guaranteed recipe for massive volatility. 1; crash to $3K in 2018. 2; break above $4K to $14K in 2019. 3; break above $10K in 2020 (kickstart bull 2021).” — Michaël van de Poppe (@CryptoMichNL) 10 October 2022
It remains to be seen whether that will also be the case this time. A drop below $19,000 could also send many Bitcoin investors into a panic and trigger a bearish downward spiral for the digital asset. However, Van de Poppe is not the only analyst with a bullish forecast for Bitcoin and the crypto markets. Chart expert Justin Bennett, for example, is also optimistic, writing to his more than 109,000 Twitter followers: “The quiet phase for crypto will end soon.” Bennett is certain: The longer the market remains in place, the more explosive the breakout will be. be. He expects altcoins and Bitcoin to rise in the short term, so he advises: “Get ready.”
Bitcoin: six-figure prices by 2025
The crypto entrepreneur cites the US dollar index (DXY) as justification for his thesis: it maps the US dollar against a basket of foreign currencies. Now, according to Bennett, the DXY is threatening to fall further — and that mostly signals an uptrend for cryptocurrencies like Bitcoin and Ethereum. His conclusion: “Not the best time to be bearish on stocks and crypto.”
So does Kaleo (@CryptoKaleo on Twitter), one of the most followed traders in the industry. In a new analysis, the crypto veteran emphasizes: Bitcoin has already bottomed and is on the verge of a massive rally! So is another bull run coming sooner than expected? This leaves Kaleo in no doubt: “In my opinion, we have already put the big collapse behind us. We are in the accumulation phase. The price increase will surprise everyone.”
“Another thing that cannot be overstated – I do not expect the ~December breakout to lead to a new ATH. Just a few months of fun, followed by more hacking through the next halving.— Kaleo (@CryptoKaleo) 6 October 2022
In his assessment, the “most likely path” for Bitcoin is a rally to $30,000 in December. The start of 2023 would see “rapid, hype-driven growth” – but not enough for a new all-time high, pushing Bitcoin above the previous high of $68,789. Kaleo expects it only at the end of 2024, the beginning of 2025: “Then we will finally see a new Bitcoin[Allzeithoch] and a six-figure BTC.”