Crypto Expert Reveals Why Bitcoin Could Hit $200,000 By April
March 11 2024 - 3:00PM
NEWSBTC
A crypto analyst has forecasted Bitcoin’s price to surge to
unprecedented highs ahead of the 2024 Bitcoin halving event
scheduled for April. The cryptocurrency has already been
experiencing significant gains, surpassing its previous all-time
high to trade above $70,000. Bitcoin’s Path To $200,000 In a
recent X (formerly Twitter) post, crypto analyst, Gert van Lagen
provided a compelling narrative supporting Bitcoin’s bullish
trajectory leading up to the halving event in April 2024.
Related Reading: Crypto Expert Says Dogecoin, Shiba Inu, PEPE,
Others Are About To Explode Sharing a price chart illustrating
Bitcoin’s recent bullish movements, Lagen revealed that the
cryptocurrency doubled in value within 10, 18 and 84 days following
its surge to new all-time highs. As a result of this massive
rallying trend, the analyst confidently expressed his belief that a
move to $200,000 before the halving cycle in April is becoming more
plausible. Traditionally, the Bitcoin halving marks an event
where the rewards for mining new blocks are cut by half, leading to
a subsequent reduction in the cryptocurrency’s supply and
contributing to a sustainable increase in its value. The highly
regarded four-year event is usually accompanied by a significant
bull run for Bitcoin and other cryptocurrencies within the
market. Contrary to historical patterns indicating that the
Bitcoin bull run typically aligns with the halving event, the
cryptocurrency has been experiencing unprecedented gains in
anticipation of the halving, leading analysts to consider the
possibility of an even larger price jump during the event.
The cryptocurrency’s achievement of a new all-time high before the
halving stands as an extraordinary occurrence, underscoring the
immense demand and growing popularity of Bitcoin in the crypto
space. Including Lagen, other analysts have predicted bullish
outcomes for Bitcoin ahead of the halving event. According to
crypto analyst, “The Bitcoin Therapist,” on X, Bitcoin is expected
to rise to $100,000 by April. Additionally, a steady rise to new
all-time highs at $75,000 is expected to occur before the halving,
as stated by another crypto analyst. Bitcoin Smashes Through
$70,000 Barrier Following its previous surge to $70,000 on Friday,
March 8, 2024, Bitcoin encountered a minor setback, retracting to a
level just above $69,000. However, in the last 24 hours, the
cryptocurrency has recorded an unprecedented surge, amassing
approximately 2.68% and currently trading above the $71,000 price
mark, according to CoinMarketCap. Related Reading: Shiba Inu BONE
Token Garners Over 20,000 Picks On Binance Futures NEXT Program
This price increase marks a historic milestone for the
cryptocurrency as it reaches an all-time high above $71,000 for the
first time. As of this moment, Bitcoin is trading around $71,312,
experiencing significant price fluctuations that have contributed
to its recent gains. The cryptocurrency’s 24-hour trading volume is
also up by 82.80%, underscoring the increasing demand and interest
in the pioneering digital currency. BTC price at $71,581 | Source:
BTCUSD on Tradingview.com Featured image from Yahoo Finance, chart
from Tradingview.com
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