Bitcoin On Track For $92,000 ‘Bounce’ In 3 Months, Analyst Predicts

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Name	Symbol	Market	Market Cap ($)	Algorithm
Sandbox	SANDUSD	Crypto	1,429,238,658	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Sandbox

SANDUSD

Crypto

1,429,238,658

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.0281	-4.51%	0.5953	0.5951	0.5952

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.0281

-4.51%

0.5953

0.5951

0.5952

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.6171	0.5888	0.6139	0.6234	0.208400 - 0.920000

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.6171

0.5888

0.6139

0.6234

0.208400 - 0.920000

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	09:53:58	484.22	0.5952	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

09:53:58

484.22

0.5952

USD

Price x Volume	Volume	Base Symbol	Related Pairs
2,538,602.79	4,218,614.85	SAND	SANDEUR	SANDGBP	SANDBTC

Price x Volume

Volume

Base Symbol

Related Pairs

2,538,602.79

4,218,614.85

Bitcoin On Track For $92,000 ‘Bounce’ In 3 Months, Analyst Predicts

16/09/2024 2:30pm

NEWSBTC

Bitcoin (BTC) appears to be bouncing off its summer slumber, say analysts who believe the asset could rebound in the coming months. Recent technical indications and charts suggest that BTC could be on the cusp of a significant price move. The cryptocurrency is geared for a bounce that could take the asset far beyond $92,000, despite recent losses. Related Reading: The Sandbox (SAND) Sets Sights On 1,111% Growth Amid Crypto Market Pressures Short-Term Projection Bitcoin’s immediate technical projection points to a possibly positive trend. Right now, Bitcoin is selling 39.27% below its projected price for next month, according to CoinCheckup. Still, an increase is seen in the coming week; short-term signs suggest a possible comeback. With forecasts of a 70.68% gain, this momentum might open the path for significant price rise over the next three months. These short-term signs could point to a buying opportunity before a bigger rise starts. Past Performance And Forecasts This price movement of Bitcoin coincides with trends that have been exhibited during past halving events. According to popular analyst Titan of Crypto, the current trend goes in line with most the previous trends, especially the post-halving periods that have been the source of various significant movements. #Bitcoin Rally Imminent? 🚀 In previous cycles, when the price retested the 50-week simple moving average 🔴, it bounced at least 40%. On average, the bounce was 71%. If #BTC rallies 71% from here, it could reach $92,000. pic.twitter.com/e3ghGxn3NS — Titan of Crypto (@Washigorira) September 13, 2024 Titan underlined on the weekly chart a significant support level retest on September 13th, which historically has resulted in average price gains of 71%. According to his analysis based on historical data, Bitcoin might soon surpass the $92,000 mark, therefore attaining a new record for the currency. For Bitcoin, it’s always been a challenging month because average returns come in at around -4.69%. But history would tell a different tale when the following months, especially October and November, go on to reflect considerable increases. In October, Bitcoin has normally delivered average gains of 22.9%; in November, 46.8%.This trend supports the present projection of a possible comeback, therefore strengthening the belief that Bitcoin might bounce back rather powerfully in the next months. Bitcoin Long-Term Outlook In the long-run, the prospect of Bitcoin remains very promising. It will almost certainly rise upward with an estimation of 102% for the next six months and a chance to rise within the year by 166%. This would show intense market confidence in the future of the virtual currency and might even let Bitcoin continue outperforming at its current low. Related Reading: FET: 30% Breakthrough Draws Investor Attention As New Developments Roll Out The ability of the cryptocurrency to recover the $60,000 level lately shows a good change in market attitude, which prepares the ground for the possible price gains. All things considered, historical patterns and present technical indications of Bitcoin point to a bright future. Although current losses and short-term difficulties create hazards, generally the pattern shows a big comeback and possible price surge. Bitcoin is a good asset for both present and future benefits since investors who negotiate the short-term volatility could be well-positioned to profit from the expected long-term development. The chances for a strong comeback for Bitcoin seem more feasible as the market steadies and momentum gathers. Featured image from Pexels, chart from TradingView

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