CandleFocus Bitcoin's Breakout to New Highs Could Be Near, Past Market Cycles Suggest
2024-09-19
Author: Content Editor
According to historical data and comparisons to previous market cycles, Bitcoin may be on track for a breakout to new record prices. Despite a multi-month correction, Bitcoin is still up 290% from its market bottom in November 2022, which is consistent with previous bull markets. If Bitcoin follows the patterns of previous cycles, it could rise between 600% to 900% from its low, potentially reaching a price range of $108,000 to $155,000. The current correction phase also resembles the price action of previous halving years, suggesting that a breakout could happen in the latter months of the year.
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