Analyst Says Bitcoin Is Hitting Range Bottom, “Right Before The Fireworks”
Crypto analyst Quinten François has provided an ultra-bullish narrative for the Bitcoin future trajectory. The analyst suggested that things are about to get interesting for the flagship crypto, predicting it could rise to as high as $4.5 million.
The “Fireworks” Are Just About To Begin For Bitcoin
While highlighting the significance of Bitcoin’s fourth halving, Quinten claimed that the “fireworks” were just about to begin for Bitcoin. The crypto analyst remarked that BTC was currently at the bottom of the range of a growth pattern, which it could enjoy if this fourth halving were to follow the same growth rate as the previous market cycles.
If that were to happen, Quinten claims that Bitcoin could be worth between $140,000 and $4.5 million going forward. He noted that this potential move for BTC is starting at the range bottom at $63,000, so he remarked that the fireworks are just about to start for the flagship crypto.
From the chart Quinten shared, Bitcoin’s impressive growth to $4.5 million isn’t expected to happen in this bull run. He predicts that Bitcoin could peak at around $1 million if it were to mirror Bitcoin’s trajectory after the first halving. Meanwhile, Bitcoin could eventually rise to $4.5 million in 2028 if it continues to mirror the price action following the first halving.
Additionally, BTC’S fourth halving mirroring the second or third halving will bring lower price moves for the flagship crypto. Quinten predicts that Bitcoin will rise to as high as $400,000 or $280,000 if it follows the second or third halving, respectively. Meanwhile, based on the second and third halving trajectory, Bitcoin could rise to as high as $1 million or $800,000 by 2028.
Time For BTC To Resume Its Upward Trend
Based on recent analyses by different crypto analysts, Bitcoin could resume its upward trend soon enough. Crypto analyst Ali Martinez mentioned that retail investors are returning to the Bitcoin ecosystem, with new Bitcoin addresses hitting a four-month high of 432,026. This could put the flagship crypto in price discovery and lead to a rally as these investors accumulate Bitcoin.
Crypto analyst Mikybull Crypto also recently predicted that BTC is set to rise higher. He claimed that the flagship crypto had completed its inverse head-and-shoulder pattern on the daily and noted that Bitcoin’s Moving Average Convergence/Divergence (MACD) indicator suggests an imminent bullish cross, which indicates strength for the flagship crypto.
Meanwhile, Mikybull Crypto revealed that Bitcoin’s CME gap has been filled. This is significant as crypto expert Michael van de Poppe predicted that Bitcoin could witness a bounce from its current price levels once the CME gap has been closed.
At the time of writing, Bitcoin is trading at around $60,600, down over 3% in the last 24 hours according to data from CoinMarketCap.
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