Showing posts with label Bitcoin. Show all posts
Showing posts with label Bitcoin. Show all posts

Saturday, March 9, 2024

Bitcoin April 2024 Halving - Target 150K+ by October 2025 | Peter L. Brandt

Bitcoin halvings are strongly associated with past bull market trends in Bitcoin. Also, a strong correlation exists between the halvings and the timing of the associated bull trends. More precisely, in the past the halvings have been right at the half-way point of major bull cycles. In other words, the lengths of bull trends following the halving dates have been about equal to the length of the bull trends prior to the halving dates [...]
 
The 2022 to 2025 Bull Cycle
We know what HAS BEEN in previous bull cycles. We have confidence in what we already know. But projecting past price behavior into the future is highly speculative. The next halving is April 22, 2024. Assuming that the low of the current bull cycle was in late November 2022. That low was 75 weekly bars before the April 2024 halving.
 
If the bull trend extends 75 weekly bars beyond the next halving, a price high would occur in early October 2025. If the pace of the bull trend after April 2024 is at similar pace to the bull trend since the November 2022 low, then the high in October 2025 could be around $150,000. 
 
However, the post-halving advances during previous bull cycles have been much steeper than the pre-halving advances.
 
 
 
 
 

 

Monday, May 28, 2018

BitCoin vs Number of Up Closes (last 30 days) | At or Near Major Low

Three more down closes and the indicator at 10 would fit the pattern.

Saturday, April 14, 2018

S&P 500 Index vs BitCoin | shifted 44 Calendar Days


The correlation between Bitcoin prices shifted 44 Calendar Days into the future and the S&P 500 was discovered by Raj Time and Cycles (HERE + HERE). The correlation cycle is not perfect; it contracts and stretches ± 2 calendar days. Currently a 44 calendar day correlation points to a major high in the S&P 500 around April 17 (Tue).

Friday, May 26, 2017

Bitcoin Bubble │ Re-Emerging Asian Fever

Source: CryptoCompare BTC/USD Index
Continuing its stellar rise, and adding more than 30% to its value in just a week, on May 25 (Thu) one Bitcoin was worth USD 2,768.32, way over twice as much as one ounce of gold. After crashing more than USD 500 from its intraday highs in less then 9 hours (-18.6%), Bitcoin has bounced back USD 300 off its intraday lows extending gains into what is likely to be another frenetic Asian session. While there are numerous drivers of the recent action, 'scaling' and 'asian fever' are the greatest factors with Japanese and Korean premia exploding.


Bitcoin has risen 170% over the last three months to reach a capitalisation of USD 40 billion according to the CryptoCompare BTC/USD Index, Ethereum too has seen its market capitalisation jump 330% in the past three months to reach USD 20bn according to the CryptoCompare BTC/ETH Index. It is Japan, Korea and Asian interest that is causing the price to rise and dragging up Western prices on the back of regulatory moves as well as scaling. This is the total market capitalization of all cryptocurrencies:  

Source: CryptoCurrency Market Capitalizations

To date that has mostly meant Bitcoin, but over the last two months Bitcoin’s share of cryptocurrency capitalization has actually plummeted to less than 50%, thanks to the sharp rise of Ethereum and Ripple in particular: 

Source: CryptoCurrency Market Capitalizations

This news is the latest bit of good news for the Bitcoin: