CandleFocus Bitcoin price gears up for major rally with two key peaks on the horizon
2024-10-12
Author: Content Editor
Bitcoin's October rally has had a slow start, but an analyst predicts two major peaks in the future, suggesting a long-term bullish trajectory for BTC. The Consecutive Candles 9's (CC9) indicator has been accurate in predicting market inflection points and shows that Bitcoin has already flashed two of the four key signals in its current cycle. Bitcoin is approaching key price levels, and technical factors and historical patterns will likely shape its next moves. If history repeats itself, Bitcoin could reach $140,000 to $240,000 before entering a corrective phase by mid to late 2025. Macro and technical factors, such as rising U.S. inflation and China's fiscal policy update, contribute to Bitcoin's favorable outlook. Despite a slower start to October's rally, Bitcoin's long-term outlook remains bullish. AI predictions estimate that Bitcoin could reach $80,000 to $100,000 by the end of 2024. These next 12 to 18 months will be crucial in shaping Bitcoin's growth trajectory.
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