NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin in Pre-Halving Rally, Could Hit $13,000 before May: Analyst

Yashu Gola
Yashu Gola
1 year ago
2 mins read
bitcoin, cryptocurrency, halving

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.

Those who are looking to exit their bitcoin positions may want to wait for four more months to extract better profits, according to a prominent crypto analysis company.

Trading signals provider TradingShot.com said in a note that bitcoin could be worth $13,000 in or before May 2020. It cited the cryptocurrency’s historical price behavior ahead of its halving – a pre-programmed supply cut event that is taking place in the same month – as the core reason behind the potential price rally.

Bitcoin 1W Chart

TradingShot noted that bitcoin is eyeing a break out from a so-called “high volatility zone,” as shown via an orange rectangle in the chart above. Meanwhile, the move upward could take the price into a “pre-halving triangle zone,” the top of which coincides with the $13,000 level.

bitcoin, cryptocurrency, halving
Bitcoin before supply cuts | Source: TradingShot.com

The analyst further drew a Fibonacci retracement graph to show its 78.6 percent level as a strong pullback level. Weeks before the second halving took place, the bitcoin price had reversed upon testing the 78.6 percent line.

TradingShot predicted a similar price action in the current scenario, wherein the price would retest the 78.6 percent level. Again, it coincides with $13,000.

“Before each Halving (2nd and 3rd) each top has been on the 0.786 Fibonacci retracement level: in 2016 that was a few weeks before the Halving, while on the current cycle it was during the Apri-June aggressive expansion. On both phases, the 0.382 Fibonacci held as Support.”

Supportive Fundamentals

Since October, the Federal Reserve is buying T-bills at a rate of $60 billion per month. The US central bank is also purchasing MBS and TSY maturity investments worth $20 billion, as well as tens of billions in overnight repos.

Experts believe the ongoing expansion program could artificially inflate the Dow Jones, Nasdaq, and S&P 500 during the first quarter of 2020. Nevertheless, there might be a point when the Fed either slows down or pauses the swelling of its balance sheet by hundreds of billions of unbacked dollars.

Morgan Stanley, for instance, thinks the Fed would stop the pseudo-QE program in April-May this year, right around the time when bitcoin would see its daily supply rate cut from 1,800 BTC to 900 BTC.

Combined with TradingShot.com’s technical take, the dual bullish indicators could push the bitcoin price to or even above $13,000.

Bit surprised at the amount of bearish sentiment I'm seeing on CT [not really as a contrarian]. A recap of this year –

– price up 160%
– solid retracement as long as the parabolic spike up
– break out of the long downward trend line
– higher high
– looking for higher low pic.twitter.com/Gev1iaAi6N

— dave the wave🌊🌓 (@davthewave) January 26, 2020

On the other hand, some analysts do fear that bitcoin could undergo a massive pullback. Willy Woo, who is a partner with Bitcoin fund Adaptive Capital, said the cryptocurrency could slip below $6,000. He though added that the dip would not hurt its long-term bullish sentiment.

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

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.

Related News

Bitcoin

Bitcoin Meets Heartbreak In Drake’s Latest Track—Details

Grammy‑winning artist Drake has just put out a new track called What Did I Miss? that makes a clear link between...

Christian Encila 8 hours ago
Bitcoin

Are Bitcoin Retail Traders Back In The Market? On-Chain Data Suggests So

Bitcoin started the month of July with a convincing rally to the upside, suggesting a sustained bullish sentiment amongst investors...

Opeyemi Sule 10 hours ago
Bitcoin

Bitcoin Must Hold $106,000 And $98,000 To Avoid Breakdown

Bitcoin is currently holding just above the $108,000 level and bulls are maintaining momentum after a volatile start to July....

Scott Matherson 11 hours ago
Load More

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.

Related News

XRP

XRP Eyes Breakout As Analysts Predict Rally Alongside Real-World Adoption

Scott Matherson 2 hours ago
Ethereum

Ethereum Ready For Explosive Breakout: $5,791 The Minimum Target–Analyst

Scott Matherson 5 hours ago
Bitcoin

Bitcoin Exchange Outflows Continue To Rise: Investor Confidence At An All-Time High?

Opeyemi Sule 7 hours ago

Premium Sponsors

Press Releases

  • Make $8,000 a day in stable passive income easily –...

    7 hours ago
  • SunnyMining——A passive income tool that allows ordinary...

    8 hours ago
  • Cryptocurrency is the best way to get rich quickly, easily...

    23 hours ago
  • XRP Cryptocurrency × Dogecoin Mining: HASHJ launches...

    1 day ago
  • Koja kriptovaluta ima veći potencijal za stvaranje milijunaša XRP ili Shiba Inu

    Koja kriptovaluta ima veći potencijal za stvaranje...

    1 day ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

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.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.