Bitcoin’s Upcoming Leap? Analyst Predicts A Potential $45,500 Rise By November

Samuel Edyme

1 year ago

3 mins read

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Bitcoin (BTC), the pioneering digital currency that has recently seen a notable surge recording 51% in global crypto market capitalization dominance, has now received a fresh analysis from CryptoCon, a seasoned crypto technical analyst hinting at a potential surge in the asset’s price.

This projection, shared in a recent post on X (formerly known as Twitter), has caught the attention of many, given its bullish outlook amid the present market landscape.

Bitcoin Enters Mid-Cycle Phase Four

Based on CryptoCon’s research, Bitcoin has embarked on its fourth mid-cycle phase. It is worth noting that such categorized phases are integral in understanding the potential trajectory of a cryptocurrency.

This new phase suggests that Bitcoin is on a path to reach the “mid-top” of its cycle, which, according to CryptoCon, is around the $45,500 mark.

Bitcoin mid-cycle phases. | Source: CryptoCon

CryptoCon further elaborated that there’s typically a swift transition to phase five after the second phase’s conclusion. Given this pattern, the prediction is that Bitcoin could reach the speculated $45,000 price point soon.

However, a key hurdle remains. For Bitcoin to ascend to this new height, it must first breach the $36,368 resistance level, the analyst disclosed.

Welcome to Mid-Cycle phase 4

This is the time when #Bitcoin is in between heading to the cycle Mid-Top which is now about 45.5k.

Price has typically come over this.

Interestingly, when phase 2 is over, it’s usually a launch straight to phase 5, which means 45k could be soon!… pic.twitter.com/uGsEcUqb5q

— CryptoCon (@CryptoCon_) October 25, 2023

The Path To $45,500: Factors And Timelines

Notably, the optimism surrounding this prediction is grounded in historical patterns. CryptoCon’s assessment indicates that a leap to the “mid-top” typically occurs approximately two months after the closure of the second phase.

The anticipation grows stronger as the first of these two months draws to a close. If the pattern holds and Bitcoin maintains its current momentum, we might witness it touch the $45,500 mark as we usher in November, the analyst concluded, noting:

Since our first month is about to come to a close in phase 4, the mid-top could be complete as soon as November. Translation: A possible move above 45k by next month.

It is worth noting that CryptoCon isn’t the only analyst sharing predictions on Bitcoin’s trajectory. Stephan Livera, Swan Bitcoin’s Head of Education, recently disclosed his projections for Bitcoin’s future.

Livera believes Bitcoin could reach around $500,000 by 2025 or early 2026. Yet, this ascent might not be without its challenges, possibly seeing a significant decline after reaching that peak.

Drawing comparisons with gold, Livera suggests that BTC could exhibit a similar valuation pattern. “So, it might go to $500k and then crash to $100k,” Swan Bitcoin’s Head of Education remarked.

Bitcoin (BTC) price chart on TradingView — Bitcoin (BTC) price is moving sideways on the 4-hour chart. Source: BTC/USDT on TradingView.com

Featured image from iStock, Chart from TradingView

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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