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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Is Now the Time to Buy Bitcoin? Top Analysts Predict $150K Surge On The Horizon

Samuel Edyme
Samuel Edyme
10 months ago
3 mins read
Is Now the Time to Buy Bitcoin?

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Bitcoin, the largest cryptocurrency by market cap appears to have “bottomed out”  and is now poised to surge above $150,000, according to prominent crypto analyst Captain Faibik.

This insight from the analyst comes as Bitcoin currently sees a sign of rebound, reclaiming the $60,000 mark following its recent plunge below $59,000.

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10 months ago

A $150,000 Surge On The Horizon

In his recent post on X, Captain Faibik disclosed a distinct pattern known as the Descending Broadening Wedge found on the BTC chart. This technical pattern typically indicates bullish potential, suggesting that an upward breakout is highly probable after a period of price declines and increasing volatility.

Descending Broadening Wedge pattern on Bitcoin chart
Descending Broadening Wedge pattern on Bitcoin chart. | Source: Captain Faibik on X

Faibik elaborates that we are currently in what he describes as the “Accumulation phase,” which historically precedes significant bullish rallies.

This phase is characterized by investors purchasing the asset at lower prices, gearing up for anticipated future gains. The sentiment is supported by the severe price drops in altcoins, with a 60-70% decline since March 2024.

Since the March 2024 high, the Markets have been moving in a Descending Broadening Wedge Pattern.

We are currently in the Accumulation phase, just before the Next Massive Bullish Rally.

Most altcoins are down 60-70% since the March high, and I know Altcoin holders are… pic.twitter.com/ttWsBwMbOJ

— Captain Faibik (@CryptoFaibik) August 11, 2024

Captain Faibik is optimistic about Bitcoin’s price trajectory, drawing parallels to previous cycles. He recalls the period around August-September 2023 when BTC traded between $17,000 and $18,000. According to Faibik, those who heeded his advice to buy during that time saw Bitcoin’s value soar to $74,000.

Revealing the current outlook, Faibik noted:

Now, I’m telling you again to Accumulate. Bitcoin will likely surpass $150k this time. Keep accumulating the dips and Building your Portfolio for the 2024-25 bullrun.

Bitcoin Rainbow Chart Outlook

Echoing Fabric’s analysis, another analyst, Lark Davis, points to the Bitcoin Rainbow chart, which currently shows Bitcoin in the “accumulation zone.”

Bitcoin Rainbow Chart.
Bitcoin Rainbow Chart. | Source: Lark Davis on X

Based on historical data, investors use this tool to gauge market sentiment and potential price movements. According to Davis, if BTC reaches the “FOMO Intensifies” zone, as it did in the last cycle, it could skyrocket to between $150,000 and $190,000.

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Bitcoin Price Trims Gains: Is the Rally Losing Steam?

10 months ago

Davis advises investors to consider accumulating BTC during these dips, suggesting that we are in an optimal phase for building positions in anticipation of the next market surge.

The Bitcoin Rainbow chart shows that $BTC is currently in the accumulation zone.

Last cycle, we topped in the “FOMO Intensifies” zone.

If we reach that zone this cycle, $BTC could go anywhere between $150K–$190K.

Where do you think we top this cycle? pic.twitter.com/STuOwmoN68

— Lark Davis (@TheCryptoLark) August 12, 2024

Featured image created with DALL-E, Chart from TradingView

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Samuel Edyme
Samuel Edyme

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.

Read more

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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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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