$160K at subsequent halving? Mannequin counts right down to new Bitcoin all-time excessive
Bitcoin (BTC) value motion could lack momentum this month, however one well-liked analyst remains to be eyeing new all-time highs.
In his newest evaluation, TechDev confirmed that he believes BTC/USD will see a “parabolic prime” across the 2024 block subsidy halving.
Can Bitcoin achieve 500% in a 12 months?
Lower than 12 months away, Bitcoin’s subsequent halving is already the subject of debate amongst market contributors.
Some argue that the occasion will lay the foundations for the following all-time excessive, consistent with earlier halving cycles.
For TechDev, nevertheless, the brand new BTC value document ought to come earlier than later, in Q2 of 2024.
The thought was initially coated in a Market Replace weblog submit earlier in Could. This week, in the meantime, it was described as his “main time-based thought.”
A chart uploaded to Twitter confirmed the trail to the Q2 prime dotted with resistance traces, Fibonacci retracement ranges and the present all-time excessive from 2021.
Finally, BTC/USD ought to prime out at round $160,000, it predicts.