The post Bitcoin Upcoming Leap? Analyst Predicts A Potential $45,500 Rise By November appeared on BitcoinEthereumNews.com.

Bitcoin (BTC), the pioneering digital currency that has recently seen a notable surge recording 51% in global crypto market capitalization dominance, has now received a fresh analysis from CryptoCon, a seasoned crypto technical analyst hinting at a potential surge in the asset’s price. This projection, shared in a recent post on X (formerly known as Twitter), has caught the attention of many, given its bullish outlook amid the present market landscape. Bitcoin Enters Mid-Cycle Phase Four Based on CryptoCon’s research, Bitcoin has embarked on its fourth mid-cycle phase. It is worth noting that such categorized phases are integral in understanding the potential trajectory of a cryptocurrency. This new phase suggests that Bitcoin is on a path to reach the “mid-top” of its cycle, which, according to CryptoCon, is around the $45,500 mark. Bitcoin mid-cycle phases. | Source: CryptoCon CryptoCon further elaborated that there’s typically a swift transition to phase five after the second phase’s conclusion. Given this pattern, the prediction is that Bitcoin could reach the speculated $45,000 price point soon. However, a key hurdle remains. For Bitcoin to ascend to this new height, it must first breach the $36,368 resistance level, the analyst disclosed. Welcome to Mid-Cycle phase 4 This is the time when #Bitcoin is in between heading to the cycle Mid-Top which is now about 45.5k. Price has typically come over this. Interestingly, when phase 2 is over, it’s usually a launch straight to phase 5, which means 45k could be soon!… pic.twitter.com/uGsEcUqb5q — CryptoCon (@CryptoCon_) October 25, 2023 The Path To $45,500: Factors And Timelines Notably, the optimism surrounding this prediction is grounded in historical patterns. CryptoCon’s assessment indicates that a leap to the “mid-top” typically occurs approximately two months after the closure of the second phase. The anticipation grows stronger as the first of these…

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Filed under: News - @ October 27, 2023 4:24 am