The Big Move: Crypto Pundit Predicts When Bitcoin Will Reach A New ATH

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,359,810,797,380	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,359,810,797,380

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	1,399.43	2.06%	69,312.41	69,310.91	69,312.39

Price Change

Price Change %

Current Price

Bid Price

Offer

1,399.43

2.06%

69,312.41

69,310.91

69,312.39

High Price	Low Price	Open Price	Prev. Close	52 Week Range
69,387.00	67,658.00	67,857.26	67,912.98	24,900.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

69,387.00

67,658.00

67,857.26

67,912.98

24,900.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	15:01:24	0.000053	69,312.62	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

15:01:24

0.000053

69,312.62

USD

Price x Volume	Volume	Base Symbol	Related Pairs
216,624,910.51	3,170.30	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

216,624,910.51

3,170.30

The Big Move: Crypto Pundit Predicts When Bitcoin Will Reach A New ATH

02/12/2023 10:00pm

NEWSBTC

The Bitcoin future price trajectory has been the talk for many months, as many analysts expect the next surge anytime soon. According to crypto analyst Mags, the cryptocurrency’s past history around its halvings gives a timeline on when to expect the next Bitcoin price milestone. Mags made this known in a social media post on X, detailing how Bitcoin surged between 234 and 216 days after the past two halvings to reach new all-time highs. Crypto Analyst’s Prediction Model Based On Past Halvings Crypto analysts have developed different models in the past year to predict when Bitcoin may reach new all-time highs based on historical trends. However, crypto analyst Mags has gone in the way of Bitcoin halvings, with the next halving fast approaching. Related Reading: Ethereum Price Prediction: Crypto Analysts Reveal Catalyst That Will Drive Price Above $3,500 Mag’s tweet pointed out that, historically, it took Bitcoin 234 days after its 2016 halving to break over its all-time high. Then, Bitcoin’s highest price was capped at $1,242 on November 29, 2013. The crypto would then maintain this spectacular bull run to reach $19,783, which would be its all-time high for the next three years. In a similar manner, BitcoinBTCwould then break over the all-time high at this point 216 days after its 2020 halving. The crypto would maintain the bullish momentum throughout the year and into 2021 to reach its current all-time high of $68,789. Bitcoin halvings happen around every four years to reduce the amount of BTC rewards miners get for every block mined on the Bitcoin blockchain. The next schedule is slated to occur 130 days from now and sometime around April 2024, reducing the mining reward from 6.25 BTC to 3.125 BTC. According to Mags, if history repeats itself, we could see another Bitcoin all-time high in 130 days plus 234 days, putting the next timeline in December 2024, 364 days from now. When #Bitcoin New ATH ?🤔 In previous two cycles $BTC took 234 – 216 days to break above its previous ATH With the Bitcoin Halving just 130 days away, adding 234 days post-halving brings us to a total of 364 days If history repeats, we could see a new ATH in around 364 days… pic.twitter.com/HIjrwiJPmx — Mags (@thescalpingpro) December 1, 2023 What’s Next For Bitcoin? Future Trajectory Bitcoin’s current fundamentals point to a bullish run in the next few months. Although the next Bitcoin halving could contribute to scarcity and drive up the amount of BTC in circulation, we could well see BTC’s price reach a new milestone even before the next halving. Related Reading: Dogecoin Marks Two Consecutive Green Monthly Closes, What Happened The Last Time? Now we have Bitcoin spot ETFs in the game which could be a game changer in the coming months. These applications are poised to be approved as early as January 2024, which would open the Bitcoin market to as much as $70 billion from institutional investors. Bitcoin profitability is now at its highest point since the bull market in 2021, with 81% of holders now in profit. The cryptocurrency is now trading at $38,756, up by 128% in the past 12 months. The first hurdle would be to break over the anticipated $40,000 price level before the end of the year. BTC price recovers above $38,800 | Source: BTCUSD on Tradingview.com Featured image from CoinGape, chart from Tradingview.com

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