The trader predicts that the price of Bitcoin will reach 350,000 US dollars

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Bitget2024/05/12 02:58

Golden Finance reports that anonymous cryptocurrency trader Rekt Capital says Bitcoin has perfectly repeated its history from 2016. Within three weeks after halving, Bitcoin saw a downward candlestick below the current re-accumulation range bottom. Rekt states that at this point in the cycle, the re-accumulation range is any price below $61,081. Timothy Peterson, founder and investment manager of Cane Island Alternative Advisors, points out that the drop from All-Time High (ATH) chart (measuring Bitcoin's decline from peak to trough within a specific time frame) serves as an indicator of Bitcoin's current price until early 2025 when prices could rise nearly sixfold. Based on adoption and previous withdrawal situations, we can speculate that the peak of this cycle will be between $175,000 and $350,000 in the next nine months.

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