An analyst explains why the post-halving rally in bitcoin is certain.
According to CoinMarketCap data, the price of bitcoin dropped 3.06% on Friday, reaching as low as $60,372.36. A trading expert using the X pseudonym Titan of Crypto has voiced unwavering confidence in Bitcoin’s ability to create a post-halving price rise, despite the fact that the leading cryptocurrency market is now in a consolidation phase.
Analysts Suggest That Bitcoin Will Rise, With a $150,000 Price Target
This indication, which shows a possible turnaround from a downtrend to an uptrend, is known as the bullish engulfing candle, according to Titan of Crypto. It happens when a larger bullish candle fully emerges from the preceding smaller bearish candle.
In light of these findings, the analyst also projected that Bitcoin will soon see a significant post-halving price increase. Titan of Crypto used data from Bitcoin’s price history to characterize this prediction as “inevitable.”
The analyst for cryptocurrency stated:
You must look to the past in order to comprehend the present. Furthermore, historical data indicates that there has never been a time when #BTC has not rallied following the halving.Titan of Crypto also agreed that the short-term fluctuations in price could be “confusing,” but he anticipates that Bitcoin will continue to rise in the long run. Titan of Crypto projects that Bitcoin will trade at $150,000 in 2025 based on past post-halving rebounds.
Bitcoin Nears Its Lowest Price As Buy Interest Dips
According to Santiment, a blockchain analytics website, the recent decline in the price of Bitcoin may soon come to an end since the token is getting close to its “bottom,” or the point at which a market fall’s price stops falling and begins to rise rapidly.
As of this writing, the price of Bitcoin has dropped by 3.26% over the past week to hover at $60,968. Also, the digital coin appears on the monthly chart.
