Bitcoin Price Could Reach $200,000 Before Halving, Says Analyst
A top crypto analyst, Gert van Lagen, predicts that the price of Bitcoin could surge to $200,000 before the upcoming halving event in mid-April. He bases this prediction on the breaking of the Fibonacci level at 78.6%, which has never happened before during a halving event.
This increase in the Fibonacci metric just two months before the halving suggests a significant boost for Bitcoin’s market. Despite some recent volatility, the flagship cryptocurrency has been showing positive momentum.
Bitcoin recently experienced a sudden boost from market whales and traders, pushing its price above $50,000. This was attributed to factors such as Bitcoin ETF inflows and bullish options and futures market trends.
Bitcoin Price Surpasses $51,000
Bitcoin’s price reached levels not seen since December 2021, surpassing $50,000. Analysts believe that the influx of investments into spot Bitcoin ETFs has contributed to this surge, affecting altcoins as well.
The price of Bitcoin has continued to rise and is currently at $51,474.11 with a 4.74% increase in the last 24 hours. The observed trend of the Fibonacci level suggests that Lagen’s prediction of a $200,000 price point may be realized in the coming months.
Other analysts also share a similar view regarding Bitcoin’s price before the halving event. However, it’s important to note that market predictions are unpredictable and may not always come true.
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