Aiming High: Bitcoin's Bullish Momentum and the Road to a Potential New All-Time High
Bitcoin Poised to Reach $131K in October According to Four-Year Cycle Analysis: Explanation Inside
Hey there, folks! Let's dive into the world of Bitcoin and its recent bullish surge. Over the past week, the digital coin has consistently stayed above the $90,000 mark, showcasing an impressive 11.41% increase. But what lies ahead for the cryptocurrency king? Here's a quick lowdown on what the data suggests.
Is Bitcoin's Cost Basis Paving the Way?
A critical factor in predicting the market trend is analyzing Bitcoin's Short-term Holder (STH) Cost Basis. Recently, Bitcoin crossed its STH cost basis at approximately $93,145. Maintaining above this level is crucial for preserving the bullish momentum and aiming for new all-time highs.
Accumulation Trends Boosting Bitcoin's Momentum
The last 48 hours have seen a whopping 20,000 BTC worth around $1.86 billion being purchased from the market. Such significant events tend to back Bitcoin's price move, adding to its upward momentum and rally potential.
The Fractal Pattern: A Familiar Trend
Analysis by Alphractal indicates that Bitcoin has followed a similar pattern since 2015, repeating across all four cycles. The pattern, often referred to as the 4-year cycle, consists of three main phases: accumulation, markup, and decline.
According to this analysis, Bitcoin is still in the markup phase, suggesting that the asset will continue to rally until it hits the cycle top. The predicted cycle top is between October 12th and 16th, after which a period of decline is expected.
What's Next for Bitcoin?
Overall, the market appears bullish. Bitcoin is currently hugging an ascending support line that has driven the market rally since 2018. For a rally to be more bullish, the resistance level at $102,000 needs to be breached, paving the way for new highs.
Side Notes:
- The fractal pattern offers valuable insights for investors and analysts, helping them understand the cyclical nature of Bitcoin's market trends.
- In the past, this pattern has proved remarkably consistent, providing a framework to anticipate major market events.
- If the trend continues, Bitcoin could potentially reach a peak of $131,800 by October 2025.
- The current bullish momentum of Bitcoin, as evidenced by its consistent stay above $90,000, could potentially lead to new all-time highs, as long as Bitcoin maintains above its Short-term Holder (STH) cost basis of approximately $93,145.
- A significant accumulation trend has been observed in the Bitcoin market, with approximately 20,000 BTC worth around $1.86 billion being purchased in the last 48 hours, adding to its upward momentum and rally potential.
- Bitcoin's price movement seems to follow a fractal pattern since 2015, repeating across all four cycles, with the current market trend suggesting that Bitcoin is in the markup phase, poised to continue rallying until it hits the cycle top.
- The predicted cycle top is between October 12th and 16th, after which a period of decline is expected. However, if Bitcoin breaches the resistance level at $102,000, it could pave the way for even higher prices.
- Interestingly, the fractal pattern offers valuable insights for investors and analysts, helping them understand the cyclical nature of Bitcoin's market trends, and in the past, this pattern has proven remarkably consistent, providing a framework to anticipate major market events such as potential new highs in Bitcoin's price by October 2025.
