After Bitcoin’s impressive leap beyond $123,000 in a single day, crypto analyst XForceGlobal restated his previous predictions and amplified his bullish stance. He now posits that Bitcoin is at the start of a much broader breakout, with the final, most parabolic phase of its rally yet to come.

His detailed chart demonstrates that Bitcoin is now trading over $40,000 above its Wave 2 nadir of the macro 5th. This suggests that the market might be shifting into Wave 3 of a larger Elliott Wave impulse pattern. The chart visually breaks down previous bull market runs into distinct macro phases, each commencing after a halving cycle.

Each phase kicked off with a consolidation period, succeeded by exponential growth, and finally, a correction. Bitcoin’s price history is also marked by the halving events of 2012, 2016, 2020, and 2024—all of which have consistently preceded significant bullish rallies. The most recent halving, which took place in April 2024, is projected to usher in a medium-term rally that could push BTC’s price beyond $270,000 prior to another corrective phase.

While XForceGlobal holds a bullish long-term view on Bitcoin, he advises investors to exercise caution, acknowledging that the final wave may create market euphoria before a substantial decline ensues. His proposed roadmap reveals a steady bullish ascent towards $272,832, followed by a potential retracement to about $41,646, signifying a drastic 85% crash from the peak.

In a subsequent post, XForceGlobal predicted Bitcoin’s next short-term price target at $155,000. This prediction comes as BTC recently soared past $123,000 before experiencing a pullback, currently trading slightly above $116,800. According to the analyst, Bitcoin is solidly in an extended Wave 3, which traditionally represents the most impulsive and potent phase of the Elliott Wave sequence.

XForceGlobal’s chart indicates that Bitcoin recently broke out from a complex WXYXZ correction structure, which served as the springboard for the current rally. His forecast implies that BTC is now forming a five-wave structure targeting the $140,000-$155,000 range, with macro-level corrections anticipated along the journey.

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Crypto market specialist Luca, on X (previously Twitter), reinforces his anticipation for a major Bitcoin price surge in the upcoming quarter. He contests the predictions of a prolonged Bitcoin consolidation, which are based on fractals and market trends seen in 2023 and early 2024, arguing that they overlook a key element: 2025 is a post-halving year.

Luca identifies a steady pattern manifested in every post-halving year in Bitcoin’s timeline. His chart analysis, released on June 26, underscores that Q3 in these years has consistently showcased strong performance, with no historical evidence of weakness, thus bolstering the argument for a bullish surge.

The chart contrasts Q3 results during post-halving years of 2013, 2017, and 2021. In all instances, Bitcoin commenced the third quarter with moderate or corrective pricing, only to experience a major rally in the subsequent weeks.

The left section of the chart illustrates the 2013 post-halving year, where Bitcoin soared from less than $100 in July to over $680 in November. The middle section of the chart depicts a similar trajectory in 2017, where BTC broke out from below $2,800 in early Q3 to exceed $16,000 by year-end. The latest cycle in 2021, depicted in the right section of the chart, saw a Q3 recovery rally that propelled Bitcoin from under $39,000 in July to a new all-time high surpassing $69,000 in November.

Luca asserts that this consistent historical performance is not random, predicting a similar rally in the current cycle in the next few months. While he recognizes the chance of a momentary drawback, he stresses that Bitcoin’s broader market structure remains decidedly bullish, with the momentum still favoring further ascent.

As for future predictions, Luca’s chart exposes technical factors aligning with his bullish hypothesis. Drawing from crucial Fibonacci Extension levels, he projects that BTC’s next cycle peak could range between $140,000 and $160,000, a milestone he believes could be reached by the end of Q3.

Even though the precise target might vary based on the evolution of technical confluences, the expectation of an impending Bitcoin rally remains. With BTC currently trading around $107,423 after bouncing back from a recent dip below $100,000, a potential leap to $140,000 or even $160,000 would represent a significant gain of about 30.35% and 48.97%, respectively.

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Crypto analyst Klarch, known for his in-depth studies, had predicted this setback. He suggests it’s merely a breather before Bitcoin lurches towards new record highs. Klarch’s observations reveal a recurring pattern in Bitcoin’s behavior following each halving.

After the 2016 halving, Bitcoin saw a surge of about 280% a year later. Similarly, it soared approximately 550% in 367 days following the 2020 halving. Presently, Bitcoin has only risen around 70% in the 416 days since the last halving. Klarch emphasizes that previous cycles showed accelerated growth after a sluggish start, indicating potential for further expansion.

The importance of these percentages lies in their predictive value. If Bitcoin continues to follow its historical trend, significant gains could be imminent. Blockchain data, including trading volumes and on-chain addresses reaching new highs, supports this hypothesis.

Bitcoin reached a record-breaking $112,100 on January 20, then climbed to $111,980 on May 22. Klarch interprets these milestones not as an end but as precursors to an even higher peak. According to his chart analysis, each cycle experiences several peaks before reaching its ultimate high.

While Klarch doesn’t provide a specific date for a new peak, he implies that Bitcoin’s potential is far from exhausted. He observes that a series of all-time highs usually coincides with growing positive sentiment. As FOMO sets in among traders, the price often skyrockets.

Klarch attributes the driving factors behind Bitcoin’s price to increasing demand and liquidity in the crypto market. Steady purchases by institutions and the introduction of US Bitcoin spot ETFs have reduced Bitcoin’s availability on exchanges. Major players like Michael Saylor’s Strategy continue to buy, further limiting supply. Klarch suggests that this trend could push Bitcoin towards an impressive $180,000, approximately a 75% increase from current levels.

Asset manager VanEck has proposed a similar target, reinforcing Klarch’s predictions. If institutional investment continues to grow and retail interest remains high, Bitcoin’s price could maintain its upward trajectory. However, any halt in ETF inflows or unexpected shifts in global markets could alter this prediction.

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The analysis by SNXCrypto highlights several key factors that could drive Bitcoin’s surge to between $150,000 and $200,000:

Institutional and National Adoption: Increased Bitcoin holdings by large corporations and sovereign wealth funds could further propel demand.
Post-Halving Market Dynamics: Historical trends show Bitcoin often experiences major bull runs within a year following halving events, potentially pushing its price beyond $150,000 by late 2025.
Mainstream Financial Integration: As Bitcoin becomes more integrated into banks, payment platforms, and fintech companies, its adoption and utility are set to expand.

SNXCrypto also outlines several factors contributing to Bitcoin’s price hike, including:

Institutional Adoption at an Unprecedented Scale: The arrival of institutional investors has been a massive factor in Bitcoin’s skyrocketing value. Major corporations such as Tesla, MicroStrategy, and Square have added Bitcoin to their balance sheets, cementing its “digital gold” status. Meanwhile, major financial institutions have launched Bitcoin investment products, increasing its accessibility for average investors.

Bitcoin as an Inflation Hedge: Amid global economic uncertainty and growing inflation, Bitcoin has become a favored store of value for investors looking for protection against currency devaluation. With central banks adopting expansionary monetary policies, Bitcoin’s scarcity and decentralized nature make it a desirable alternative to traditional assets.

Regulatory Advancements and Market Legitimization: The cryptocurrency market has experienced improved regulatory clarity, especially with the approval of Bitcoin Exchange-Traded Funds (ETFs) in major financial markets. These developments have substantially lowered entry barriers for institutional and retail investors, further legitimizing Bitcoin as a mainstream financial asset.

Supply Constraints and the Halving Effect: Bitcoin’s fixed supply cap of 21 million coins and its every-four-year halving events have historically led to long-term price appreciation. The 2024 Bitcoin halving has already reduced the issuance of new Bitcoin, creating a supply shock that could drive prices higher within the next 12 to 18 months.

Bitcoin’s monumental rise from $20,000 to $100,000 highlights its resilience and growing importance in the financial world. While market uncertainties persist, factors such as institutional adoption, supply constraints, and regulatory advancements suggest that Bitcoin could reach $150,000 or even $200,000 in the future.

Investors are advised to consider both bullish and bearish scenarios while staying informed about market dynamics. Regardless of price movements, Bitcoin’s role as a decentralized digital asset remains a cornerstone of the evolving financial landscape.

About SNXCrypto:
SNXCrypto is a leading cryptocurrency platform dedicated to providing cutting-edge market insights, real-time data analysis, and investment strategies for both institutional and retail investors. With a team of blockchain experts and financial analysts, SNXCrypto offers in-depth research and professional guidance on Bitcoin, altcoins, and the broader cryptocurrency market.

For more information and the latest Bitcoin market updates, visit SNXCrypto’s official website.
Website: https://snxcrypto.com
Company: SNXCRYPTO LIMITED
Contact Person: Sarah Kane
Country: United Kingdom
Email: info@snxcrypto.com

Disclaimer: This press release is provided by SNXCRYPTO LIMITED. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.

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Bold strides in Bitcoin ETFs: The United States spot Bitcoin exchange-traded funds (ETFs) are on the cusp of surpassing the one-millionth BTC mark, potentially reaching this milestone within the week. As of now, US Bitcoin ETF issuers hold 976,893 BTC, valued at over $66.2 billion—close to 5% of Bitcoin’s overall market cap of $1.34 trillion.

Traders and analysts point to several positive factors for Bitcoin this November, including the upcoming US election, potential Federal Reserve rate cuts, and Russia lifting its Bitcoin mining ban on November 1. The US Bitcoin ETFs would need a net inflow of $1.55 billion to acquire an additional 23,107 BTC at current prices, pushing them to this historic milestone. With an estimated $301 million in daily inflows, the goal may be met as soon as this week.

Alessandro Ottaviani, a prominent Bitcoin analyst, highlighted that $3 billion has flowed into spot Bitcoin ETFs in the past two weeks. Ottaviani noted, “If this pace continues, a new all-time high is within reach by November’s end.”

Bitcoin historically rallies following its halving events, with the last one occurring in April 2024. In the November 2020 election cycle, Bitcoin saw a 43% surge shortly after Biden’s victory. Regardless of the November 2024 election outcome, some analysts, including CK Zheng of ZX Squared Capital, see similar patterns likely emerging. Henrik Andersson of Apollo Capital believes a Donald Trump victory could trigger a rally that may push Bitcoin to an all-time high of $100,000.

Further momentum may come from institutional adoption, as seen in Emory University’s recent $15.1 million investment in the Grayscale Bitcoin Mini Trust.

On November 6-7, the US Federal Reserve’s FOMC is expected to discuss an anticipated 25-basis point rate cut, forecasted by CME Group’s Fedwatch tool at a 94.7% likelihood. Such a cut could ease financial pressures, positively affecting consumer spending and markets in the short term.

Bitcoin continues to trade just under the $70,000 mark, with solid support around $65,000. Analyst Luca noted on X (formerly Twitter), “A significant number of longs are stacked at the $65K level, marking a key support zone; if breached, the next level to watch is $60,000.”

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Over the weekend, the world’s flagship cryptocurrency, Bitcoin, has printed an impressive rise of almost 7.5%, soaring from the $58,580 area to the $62,900 zone, where BTC is changing hands at the time of writing this material. The fuel for this abrupt price increase was likely provided by a number of factors, including the better-than-expected CPI report and the end of the recent Bitcoin sale imposed on the market by the German government. Besides, certain events in the US to do with the upcoming November government reshuffling took place over the weekend, unexpectedly adding fuel to the Bitcoin rally. The whole cryptocurrency market followed BTC, allowing altcoins to go back into the green zone with large price increases.

Say Goodbye to Bitcoin Under $60,000 Forever

On Saturday, Bitcoin maximalist Samson Mow tweeted that he does not expect Bitcoin to plunge below the $60,000 level (or $0.06 million as he preferred to put it) ever again. Today, he doubled down on his prediction. Mow’s ultra-bullish Bitcoin forecast is based on the fact that in April this year, the fourth BTC halving took place, slashing the block reward from 6.25 to 3.135 BTC, and the immense Bitcoin purchasing campaign initiated by spot Bitcoin ETFs that has been going on since January when the SEC granted them the green light for trading.

Bitcoin to $1 Million?

Ultimately, Samson Mow believes Bitcoin will be able to reach a whopping $1 million price threshold and surpass it. In the tweets published earlier this year, Mow shared his expectations to see Bitcoin soaring to $1 million if not next year, then very soon anyway. On Saturday, Mow tweeted that in October, he, in collaboration with German MP from Bundestag Joana Cotar and Twitter handle @BTCimBundestag, intends to present a plan for Germany to acquire back at least the 50,000 BTC the German government has sold as part of a proper nation-state Bitcoin adoption strategy.

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Market Adjustments Post-Halving

Following the halving event, the Bitcoin network experienced significant adjustments. The reduced block rewards initially caused concerns among miners about the sustainability of their operations. However, the network’s difficulty adjustment mechanism helped stabilize the situation, leading to improved profitability for miners.

Impact on Mining Operations

The increase in mining profitability has implications for both existing miners and those considering entering the market. For current miners, the improved margins mean better returns on investment, making it easier to sustain and expand operations. For potential new entrants, the positive trend could serve as an encouragement to invest in mining equipment and infrastructure.

Future Outlook

Looking ahead, the continued adaptation of the Bitcoin network to halving events will be crucial. The ability of miners to adjust their strategies and operations in response to changes in block rewards and network difficulty will determine the overall health and stability of the mining sector. Jefferies’ report suggests a cautiously optimistic future for Bitcoin mining, with potential for further growth and profitability.

The post Bitcoin Mining Profitability Rose in June as Market Adjusted for the Halving: Jefferies appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

Market Trends and Bitcoin’s Trajectory

The quiet market post-halving has not dampened the spirits of investors who are looking at the long-term growth potential of Bitcoin. Analysts remain optimistic, suggesting that while the immediate market response has been subdued, the foundational shift caused by the halving is likely to catalyze significant price movements in the coming months.

Altcoin Season on the Horizon

As Bitcoin continues its steady course, there is growing enthusiasm for the altcoin sector, which is expected to see substantial growth throughout the year. This burgeoning interest is poised to bring profitable opportunities for those invested in the diverse landscape of alternative cryptocurrencies.

The post Post-Halving Crypto Landscape: A Quiet Market with Optimistic Forecasts appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

Market Implications and Brandt’s Perspective

Peter Brandt, renowned for his extensive experience in the futures market, emphasizes the importance of understanding opposing viewpoints in trading. He notes that even as Bitcoin faces significant events like the approval of a spot Bitcoin ETF and a recent halving, its inflation-adjusted value tells a different story. This analysis serves as a critical reminder of the potential and limitations of Bitcoin’s current market dynamics.

Future Outlook and Broader Sentiments

Despite his cautious stance on Bitcoin’s inflation-adjusted highs, Brandt remains optimistic about the cryptocurrency’s potential. Alongside other market analysts and investors, there is a strong anticipation that upcoming developments could significantly impact Bitcoin’s demand and price. Notably, Robert Kiyosaki, author of “Rich Dad Poor Dad,” predicts that Bitcoin’s price could surpass $100,000 by the end of this year, propelled by reduced supply and increased demand from new financial products.

The post Peter Brandt Says Bitcoin Has Not Hit ATH in 3 Years On This Condition appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

Implications of the Halving:

• The halving will reduce the reward for mining a block of Bitcoin from 6.25 bitcoins to 3.125 bitcoins. This event occurs approximately every four years and aims to reduce the rate at which new bitcoins are generated.
• Historically, halving events have led to increased interest and speculative trading in Bitcoin, often resulting in a rise in its price over the following months.

This countdown is not just a technical update; it represents a pivotal economic adjustment that could redefine the profitability of Bitcoin mining and potentially boost Bitcoin’s price due to decreased supply pressure.

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