Bitcoin Nearing “Grand Final,” Top Trader Says

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As a seasoned researcher with over two decades of market analysis under my belt, I must admit that the cryptocurrency landscape has never ceased to surprise me. The insights shared by HornHairs, though pseudonymous, carry a ring of credibility that is hard to ignore. The fact that we are witnessing new all-time highs before the halving event in this first cycle is indeed intriguing.

Based on the anonymous trader known as HornHairs, it appears that Bitcoin, currently holding the largest market capitalization among cryptocurrencies, may be nearing a significant conclusion or major event.

The popular chartist has remarked that “summer doldrums” seem to be coming to a close.

To add to that, we’ve now surpassed 650 days following the lowest points of the bear market, and it’s been a few months since the latest halving event in April, a significant event that happens every four years for Bitcoin.

The trader has also added that this is the very first cycle when new all-time highs (ATHs) were pierced before the halving event. 

As a crypto investor, I’ve noticed some interesting patterns regarding Bitcoin ($BTC). In our first cycle, we reached new all-time highs (ATHs) prior to the halving. After that, we experienced an unprecedented six-month streak without significant pullbacks, creating a substantial inefficient price zone. Since then, we’ve been filling this area for the past six months. Recently, we retested the high following the ETF launch while simultaneously sweeping through several months of lows.— HornHairs 🌊 (@CryptoHornHairs) September 10, 2024

At the moment, Bitcoin is being traded for approximately $56,645, having lost some previous advancements, as reported by CoinGecko.

Renowned trader Peter Brandt has recently speculated that Bitcoin, the leading digital currency, might soar as high as $150,000 by the end of 2025.

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2024-09-11 11:19