Cryptocurrency analyst explains the timeline for Bitcoin to reach its all-time high.
Addressing YouTube subscribers, the host of InvestAnswers claimed that the $100,000 target is “easy and achievable” for the leading crypto during the next bull rally.
The analyst noted that Bitcoin is extremely likely to reach $45,000 before Christmas, and could most likely reach $50,000.
The analyst calculated that it took Bitcoin an average of 175 days to reach the ATH level after the last three halvings. Considering that Bitcoin’s next halving is expected to occur on April 17, 175 days later corresponds to October 8, 2024.
“Based on historical data, I believe Bitcoin will reach $69,000 before October 8th. In fact, I believe that many things will happen long ago. “We may be living in some crazy times for sure.”
The InvestAnswers host cited a chart shared by crypto company K33 Research and said that Bitcoin is recovering faster compared to past cycles.
“I added a green arrow to highlight where we are in the cycle. We are higher up and have reached that area faster than previous cycles. I’ve been saying for months that this is a real and compelling argument we have. Bitcoin’s bull run is incredible.”
At the time of writing, Bitcoin is trading at $43,278, according to Bitstamp data.
