Analysis Company Says “A Short-Term Correction May Come in Bitcoin, But the Bull Is Not Over”, Announces Its Prediction for the Real Peak!
The post Analysis Company Says “A Short-Term Correction May Come in Bitcoin, But the Bull Is Not Over”, Announces Its Prediction for the Real Peak! appeared on BitcoinEthereumNews.com.
Leading cryptocurrency Bitcoin (BTC) broke a new record by rising above $93,000 in the rally following the Trump victory. However, even if BTC experiences a correction afterwards, the rise is expected to continue. At this point, BCA Research reported that it expects Bitcoin to exceed $200,000 in this cycle. Bitcoin May See Short-Term Correction, But Target for Bullish Peak is $200,000 and Above! According to Coindesk, global research firm BCA Research has stated that Bitcoin could exceed $200,000 this cycle. BCA Research analysts said this estimate is based on 260-day fractal dimension complexity, a metric that tracks changes in price patterns. He noted that this indicator, which is based on 260-day fractal patterns, is not even close to the 1.20 level seen during previous bull market peaks, which indicates a peak. BCA analysts led by Dhaval Joshi expect a pullback in the short term, writing: “Despite Bitcoin’s election-fueled rally, its 260-day complexity is nowhere near the 1.2 level that would signal a boa peak or, in other words, the beginning of crypto winter. Therefore, although we expect a pullback in the short term, Bitcoin’s structural uptrend remains intact with an ultimate target of $200,000 and above.” *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/analysis-company-says-a-short-term-correction-may-come-in-bitcoin-but-the-bull-is-not-over-announces-its-prediction-for-the-real-peak/
Filed under: News - @ November 18, 2024 7:24 pm