Crypto Analyst Says Bitcoin Price Will Surge 500% To $330,000, Here’s When

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As a researcher with a background in cryptocurrencies and market analysis, I find Arsen Thagapsov’s prediction of Bitcoin reaching $330,000 by 2024 to be an intriguing perspective. Thagapsov’s argument is based on the historical trend of significant price increases following every four-year cycle, which coincides with Bitcoin’s halving events. This pattern has been observed in previous bull cycles, and if it continues, we could witness another massive surge in Bitcoin’s value.

An influential cryptocurrency pundit daringly projected that Bitcoin (BTC), the leading digital currency, could experience a remarkable increase of fivefold, reaching an astounding $330,000. This bold prediction from the analyst has sparked intrigue and debate among crypto enthusiasts due to its ambitious price target.

Analyst Predicts Bitcoin’s Rally To $330,000

On July 10, Arsen Thagapsov, a cryptocurrency expert, expressed confidence in Bitcoin’s future value, predicting its price could reach $330,000 during the 2024 bull market based on patterns observed in its past price trends. In a recent post on X (previously Twitter), Thagapsov shared his optimistic viewpoint.

Thagapsov revealed that Bitcoin consistently sets new record prices every four years during its bull markets, as depicted in the provided price chart. Notably, these price surges align with Bitcoin’s halving events, which take place every four years.

Crypto Analyst Says Bitcoin Price Will Surge 500% To $330,000, Here’s When

To drive home this argument, the analyst elaborated on Bitcoin’s past price surges in 2012, 2016, and most recently in 2020. As Thagapsov pointed out, during the 2012 cycle, Bitcoin saw a remarkable increase in value from a modest $12 to a staggering $1,000 – a phenomenal gain of approximately 9,000%.

During the given cycle, Bitcoin underwent an extraordinary price increase from $650 to $19,000 in 2016, representing a significant leap of around 3,000%. In contrast, during the tumultuous market conditions of 2020, Bitcoin experienced yet another remarkable surge, rising from $8,000 to a peak of $69,000 – a price escalation of approximately 1,200%.

According to Thagapsov’s analysis, there’s a consistent upward trend in Bitcoin’s price, leading him to estimate a 450% rise to around $330,000 during the upcoming 2024 market cycle. Historically, Thagapsov has identified approximately 800 days between each Bitcoin bull market. Considering his chart, we’re currently in a bull run and it’s gradually picking up speed, aiming for new record highs.

Update On BTC’s Price

As a researcher studying the Bitcoin market, I’ve noticed that despite Thagapsov’s positive predictions, the cryptocurrency has been experiencing a significant downturn. The market instability has led to substantial volatility and price declines, causing the value of Bitcoin to drop below the $60,000 mark in recent weeks. Despite analysts’ predictions of massive rallies during this bull cycle, the current trend for Bitcoin is downward.

Based on the analysis of cryptocurrency specialist Ali Martinez, the crypto market is currently reflecting a deep sense of apprehension. This fear could be linked to Bitcoin’s decreasing worth and extensive sell-offs as observed in the markets. At present, Bitcoin is priced at $58,041 on CoinMarketCap, representing a 14% decline in value over the past month.

As a researcher, I’ve noticed that Bitcoin’s lackluster performance in June and July may have caused some concerns among investors. However, I’m here to share some positive news: the accumulation trend score for Bitcoin is now showing signs of improvement. This shift in investor sentiment has become apparent as more and more investors are actively accumulating Bitcoin following a prolonged distribution phase that began in April.

Crypto Analyst Says Bitcoin Price Will Surge 500% To $330,000, Here’s When

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2024-07-14 02:12