• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Bitcoin

Dramatic $17,000 Bitcoin Peak Possible Within Weeks Based on Halving Fractal

Tony Spilotro by Tony Spilotro
8 months ago
in Bitcoin, Cryptocurrency news, Technical analysis
Reading Time: 3min read
bitcoin

High-speed car in the tunnel, Motion Blur

Advertisement

If a fractal plays out on Bitcoin price charts matching the previous halving post-consolidation breakout, the cryptocurrency could keep on climbing from here.

The target, if the rally takes a similar path, would put valuations of the top cryptocurrency at between $15,000 to $17,000 before peaking.

Bitcoin Breaks Out: What Happens Next Will Be Fast and Furious

Bitcoin price exploded early last week on the heels of gold setting a new record and the government committing to another $1 trillion in stimulus spending.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Inflating money supply has prompted a flight to hard assets like precious metals and cryptocurrency. Digital gold and its physical counterpart have both benefited from the recent weakness in the dollar.

Bitcoin earns its comparison to the precious metal due to several key similarities. For instance, gold has a finite supply and the cryptocurrency is digitally coded so only 21 million BTC will ever exist.

Related Reading | Bitcoin Just Broke Past $11,500—and That’s Huge For Bulls

This supply is slowly tricked out over the course of years. Every four years give or take, the amount of BTC that is released freely into the market is then slashed in half in an event called the halving.

Several supply based theories exist that attempt to give a future valuation to the asset based on scarcity. Those who follow this belief expect a repeat of past cycles and the asset to grow in value how that the most recent event has passed.

But will things really play out the same way? One pseudonymous trader has discovered a potential fractal playing out that points to a peak much higher above current levels. And it may happen a lot faster than anyone is prepared for.

bitcoin chart btcusd

BTCUSD 2016 Post-Halving Fractal | Source: TradingView

Post-Halving Fractal Targets Between $15,000 and $17,000 BTC in Less Than a Month

 

Analysts often look at past Bitcoin cycles to gain perspective into future price action. One trader has done just that and come up with a compelling fractal from the last block reward halving. This took place in 2016 and sent Bitcoin off on its biggest bull run ever.

The same could be happening again right now, according to technical analysis and fundamental data.

bitcoin chart btcusd

BTCUSD 2020 Post-Halving Fractal | Source: TradingView

According to the fractal, this pump may only just be getting underway, with a proposed target of between $15,000 and $17,000 target. What’s really shocking, is the timing of the target.

Related Reading | Silver Fractal: Are Crypto Altcoins On the Cusp of an Explosive Surge?

The fractal suggests a rapid and impulsive burst to this level within the next few weeks, and before August has come to a close.

bitcoin chart btcusd

Bitcoin Supply Percent Active 2+ Years | Source: glassnode

Further fundamental data suggests that the cryptocurrency is at a similar point in its market cycle. If this is the case, and the asset’s valuations rising are driven by the halving effect and digital scarcity, things may take a similar path.

Fractals are a touchy subject amongst traders, so take the targets with a grain of salt.

Tags: bitcoinbtcbtcusdBTCUSDTcryptofractalgoldxbtxbtusd
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

Related Posts

Value Network

Value Networks’ Binary Options on Qtum Blockchain Experienced 200x Growth in DeFi

9 hours ago
Bitcoin

Why Bitcoin Price Is Gearing For Another Lift-Off To New ATH

10 hours ago
OlympusDAO OHM

Why this OlympusDAO’s product could be amongst DeFi most lucrative

18 hours ago
Bitcoin BTC BTCUSD

How Bitcoin back above $60,000 could create a powerful upside move

19 hours ago
Ripple XRPUSDT

How Ripple’s big win in court correlates with XRP’s 113% rally

20 hours ago
bitcoin real estate mogul

LA Real Estate Mogul Buys Bitcoin, Accepts BTC For Rent

2 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
Bybit

Bybit

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Top ICOs

Student Coin

Student Coin

Review · Visit

Token sale

Holdefi

Holdefi

Review · Visit

Press Releases

Two Leading Russian Media and PR Agencies United Into One Full Cycle Advertising Agency

April 9, 2021

Southampton FC Extend Partnership Deal with Blockchain Leader the Coingaming Group

April 9, 2021

Omni.ai Releases Whitepaper for Alternative All-Inclusive and Revenue-Sharing Social Media Platform

April 9, 2021

Newsletter Signup


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.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Invest BTC
  • Join STC ICO

© 2020 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.