- Analysts convene to observe the latest updated Bitcoin (BTC) price prediction.
- This cycle could take Bitcoin (BTC) to $200,000 to $500,000.
- Even more interestingly, this means Bitcoin (BTC) will finally overtake the gold market.
As the crypto community awaits the arrival of the golden bull run which should follow the Bitcoin Halving event, analysts try to set expectations for BTC price this bull cycle peak. Specifically, four analysts convene to place Bitcoin (BTC) cycle high to be between $200,000 and $500,000.
Indeed, this is a bullish expectation and the analysts make it clear that it is not a prediction or financial advice. They confirm that it is just an observed expectation based on previous cycle high patterns and go on to explain their thesis.
The analysts observe the price action of the Bitcoin price charts through the Bitcoin Halving events of the past. In particular, the data observed is the price of Bitcoin (BTC) at one, three, six, nine, twelve, and eighteen months of Bitcoin Halving.
Here, what they notice is that there are moments initially where in the first to three months the market simply analyzes the scene. Wherein between six to eighteen months of the Bitcoin Halving event, there are parabolic price appreciations taking place.
Since the first halving to the third halving the data shows the Bitcoin price returned high after every cycle. In the first it was a 45x, then 28x, and then almost 8x. These are great returns for a short time for Bitcoin (BTC).
This is interesting because, in the current Bitcoin Halving phase we are moving through, then a big price appreciation is to be expected. A big aspect leading to that is the Bitcoin ETF support. Historically, if we take the average of returns in the last two cycles then the pump expected this season could be exponential.
The most iconic accomplishment should the Bitcoin (BTC) hit that appreciation level then the market of crypto could be very interesting since this price will take Bitcoin (BTC) beyond the traditional gold markets.
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