Bitcoin Could Experience a “Blow-Off Top” in 2024, According to Expert
Bitcoin (BTC) may be on the verge of a major surge in the coming months if certain conditions are met, according to a pseudonymous cryptocurrency expert known as CoinsKid. In a recent YouTube analysis, CoinsKid pointed to historical data, including Bitcoin’s positive performance in September, to support his theory of a potential “blow-off top” in 2024.
“The true top, for me, of a massive impulsive move was in April 2021. (…) Since then, we’ve been in a corrective phase of a larger cycle, and I think this cycle is looking to end roughly next year.”
CoinsKid also highlighted that the last time Bitcoin had a notably positive September was in 2016, just before the previous cycle’s blow-off top. He believes that the current data suggests another blow-off top is likely to occur next year.
Despite this analysis, other crypto experts view the current price range of Bitcoin as an opportunity to accumulate before its inevitable upward movement in decentralized finance (DeFi).
Hot Take: Bitcoin’s Potential Blow-Off Top
According to pseudonymous cryptocurrency expert CoinsKid, historical data and recent trends indicate that Bitcoin may experience a “blow-off top” in 2024. This theory suggests that Bitcoin could see a significant surge after consolidating its price following the false reports on spot Bitcoin ETF approval. CoinsKid’s analysis points to positive September performance as a key factor supporting this prediction. While some experts believe now is a good time to accumulate Bitcoin before it rises further in DeFi, CoinsKid’s theory offers an alternative perspective on the future of the cryptocurrency.
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