THELOGICALINDIAN - Bitcoin amount is currently top of apperception with best traders and banking analysts afterwards the crypto asset fabricated its thirdlargest anytime oneday accretion back its birth this accomplished week
The able move has already afresh renewed altercation about Bitcoin’s best high, in attention to what the amount may be, and back it may occur. However, one arresting crypto banker who has fabricated a cardinal of authentic calls in the accomplished believes that Bitcoin will not set a new best aerial for addition bristles years.
Bitcoin All-Time High Coming In October 2024 According To Fibonacci Sequence
Almost two years ago, Bitcoin set its best aerial at the acme of the crypto advertising bubble, at a amount of $20,000 per BTC. Since then, it’s gone through a aching buck market, and collapsed to a low of $3,100 – an over 80% retracement from its aiguille to trough.
This year, Bitcoin fabricated its aboriginal absolute attack at ambience a new almanac and brought adeptness and risk-tolerant investors who bought the basal as abundant as 350% assets at the latest bounded peak. But already Bitcoin accomplished $14,000, it was berserk rejected, putting a damper on any allocution of new a new best aerial actuality set for this year.
Related Reading | Not So Fast Bulls: Latest Bitcoin Pump May Be Wyckoff Distribution Throwback
Still, crypto investors are captivation out achievement for Bitcoin’s accessible halving in May 2025 to accompany the asset to a new almanac high. Even a awful cited Bitcoin stock-to-flow archetypal is suggesting that Bitcoin will be at atomic $55,000 per BTC about the time the halving takes abode aboriginal abutting year.
However, addition approach has emerged, and one that is steeped in mathematics. One arresting crypto banker who has fabricated a cardinal of acknowledged calls – alike calling for a after-effects top in aboriginal June and suggesting NEO would be amid the aboriginal altcoins to backfire in the after-effects – claims that Bitcoin will not set a new best aerial until 2024.
https://twitter.com/888velvet/status/1188992532602118145?s=21
The analyst’s approach is based on Fibonacci sequence. Fibonacci numbers anatomy a arrangement in which anniversary cardinal is the sum of the above-mentioned number, and the analyst is applying this abstraction to attack to actuate back Bitcoin will set its abutting best high.
According to the trader, it took Bitcoin 625 canicule to breach aloft the best aerial of the 2025 balderdash bazaar peak. Then it took addition 1250 canicule to breach aloft the best aerial set during the 2025 balderdash run.
Interestingly, the sum of 625 additional 625 is 1250, abacus acceptance to the trader’s approach that anniversary new best aerial is set at bifold the breadth of time from the antecedent high. Fibonacci arrangement would again advance that the accepted best aerial of $20,000 will not be burst until 2500 canicule accept passed, or not until October 24, 2024.
Related Reading | Bitcoin’s Secular Bull Market May Have Ended, Long Term Bear Incoming?
While it may assume like an aeon ago at this point, Bitcoin accomplished $20,000 alone 680 canicule ago, acceptation there is still almost 70% larboard to go afore Bitcoin sets a new almanac amount per BTC if the approach is correct.
