{"id":634634,"date":"2024-08-11T12:00:37","date_gmt":"2024-08-11T12:00:37","guid":{"rendered":"https:\/\/uniquehot.com\/?p=634634"},"modified":"2024-08-11T07:29:16","modified_gmt":"2024-08-11T07:29:16","slug":"bitcoin-to-rally-to-250000-if-this-condition-is-met-analyst-says","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-to-rally-to-250000-if-this-condition-is-met-analyst-says\/","title":{"rendered":"Bitcoin To Rally To $250,000 If This Condition Is Met, Analyst Says"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The price of Bitcoin has shown no significant movement in the last day rising by only 0.78% according to <a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\" target=\"_blank\" rel=\"noopener nofollow\">data from CoinMarketCap.<\/a> Following a widescale crash in the global financial markets, the crypto market leader pulled off a strong recovery in the past week, gaining by 16% to reach a peak of $62,000. <\/span><span style=\"font-weight: 400\">As Bitcoin currently retains a sideways movement, crypto analyst Micha\u00ebl van de Poppe has revealed a likely condition for the token\u2019s next bullish run.\u00a0<\/span><\/p>\n<h2><strong>Bitcoin Poised For Bullish Breakout If This Price Action Happens, Analyst Says<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">In an<a href=\"https:\/\/x.com\/CryptoMichNL\/status\/32765248\" target=\"_blank\" rel=\"noopener nofollow\"> X post<\/a> on August 10, van de Poppe shared an interesting prediction on Bitcoin\u2019s price trajectory stating that if the digital asset closed its monthly candle around the $60,000 price zone, it could indicate the asset is consolidating for a breakout. <\/span><span style=\"font-weight: 400\">According to the crypto veteran, it is likely that such consolidation could finally propel Bitcoin to embark on a bullish run reaching a price target of $250,000, which represents a potential 350% gain on the token\u2019s current price.<\/span><\/p>\n<p>&nbsp;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">It&#39;s still early in the month, but if the monthly candle of <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> is going to close around $60K, it seems like it&#39;s consolidation before the big bull breakout.<\/p>\n<p>Very likely that we&#39;ll be at the start of;<br \/>&#8211; The big run of Bitcoin to $250K+<br \/>&#8211; The surge of <a href=\"https:\/\/twitter.com\/hashtag\/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Altcoins<\/a> <a href=\"https:\/\/t.co\/Tk7wz3lm95\" rel=\"nofollow\">pic.twitter.com\/Tk7wz3lm95<\/a><\/p>\n<p>&mdash; Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/32765248?ref_src=twsrc%5Etfw\" rel=\"nofollow\">August 10, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Following the <a href=\"https:\/\/uniquehot.com\/news\/why-bitcoin-post-halving-rally-is-certain-analyst-explains\/\" target=\"_blank\" rel=\"noopener \">Bitcoin halving<\/a> event in April, investors and market experts remain highly expectant of a bullish price run by the premier cryptocurrency as seen in previous years.\u00a0 <\/span><span style=\"font-weight: 400\">However, Bitcoin has only shown a consistent range-bound movement moving between $55,000 to $70,000 over the last four months.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Albeit, these price actions draw no cause for alarm as Bitcoin is known to historically commence its bullish run approximately six months after the halving event, which falls close to van de Poppe\u2019s prediction. <\/span><span style=\"font-weight: 400\">Interestingly, the current bull cycle is particularly surrounded by high levels of optimism as illustrated by multiple six-figure price predictions by top analysts. This is driven by many factors, most prominently the Bitcoin spot ETFs.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Interestingly, these Bitcoin ETFs currently valued at $17 billion, may be set for monumental inflow levels after American banking giant Morgan Stanley<a href=\"https:\/\/uniquehot.com\/bitcoin-news\/morgan-stanley-authorizes-advisors-to-offer-bitcoin-etf-products-report\/\" target=\"_blank\" rel=\"noopener \"> sanctioned 15,000 advisers<\/a> to officially offer these funds as portfolio additions.\u00a0<\/span><span style=\"font-weight: 400\">Furthermore, the digital asset industry has recently made an unexpected foray into the US political scene as party and candidate opinions on crypto policy now look pivotal in upcoming elections in November.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">It appears this nascent industry may finally receive sufficient support from the US government in terms of regulations and legitimacy, which can boost the performance of various cryptocurrencies especially Bitcoin over 12 &#8211; 18 months.\u00a0<\/span><\/p>\n<h2><strong>BTC Price Overview\u00a0<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">At the time of writing, Bitcoin continues to trade at $60,944 with a 0.44% increase in the last seven days. Meanwhile, the token\u2019s daily trading volume is down by 52.88% and valued at $15.7 billion.<br \/>\n<\/span><\/p>\n<div class=\"related-reading-shortcode\">\n<p>Related Reading: <a href=\"https:\/\/www.tradingview.com\/x\/NzhNeokB\/\" rel=\"nofollow\">Morgan Stanley Authorizes Advisors To Offer Bitcoin ETF Products, Report<\/a><\/p>\n<figure style=\"width: 1480px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.tradingview.com\/x\/O4f7veSA\/\" alt=\"Bitcoin\" width=\"1480\" height=\"893\"><figcaption class=\"wp-caption-text\">BTC trading at $61,050 on daily chart | Source: BTCUSDT chart on Tradingview.com<\/figcaption><\/figure>\n<\/div>\n<div class=\"disclaimer-shortcode\"><em>Featured image from The Economic Times, chart from Tradingview<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The price of Bitcoin has shown no significant movement in the last day rising by only 0.78% according to data from CoinMarketCap. Following a widescale crash in the global financial markets, the crypto market leader pulled off a strong recovery in the past week, gaining by 16% to reach a peak of $62,000. As Bitcoin currently retains a sideways movement, crypto analyst Micha\u00ebl van de Poppe has revealed a likely condition for the token\u2019s next bullish run.\u00a0 Bitcoin Poised For Bullish Breakout If This Price Action Happens, Analyst Says In an X post on August 10, van de Poppe shared an interesting prediction on Bitcoin\u2019s price trajectory stating that if the digital asset closed its monthly candle around the $60,000 price zone, it could indicate the asset is consolidating for a breakout. According to the crypto veteran, it is likely that such consolidation could finally propel Bitcoin to embark on a bullish run reaching a price target of $250,000, which represents a potential 350% gain on the token\u2019s current price. &nbsp; \u00a0 Following the Bitcoin halving event in April, investors and market experts remain highly expectant of a bullish price run by the premier cryptocurrency as seen in previous years.\u00a0 However, Bitcoin has only shown a consistent range-bound movement moving between $55,000 to $70,000 over the last four months.\u00a0 Albeit, these price actions draw no cause for alarm as Bitcoin is known to historically commence its bullish run approximately six months after the halving event, which falls close to van de Poppe\u2019s prediction. Interestingly, the current bull cycle is particularly surrounded by high levels of optimism as illustrated by multiple six-figure price predictions by top analysts. This is driven by many factors, most prominently the Bitcoin spot ETFs.\u00a0 Interestingly, these Bitcoin ETFs currently valued at $17 billion, may be set for monumental inflow levels after American banking giant Morgan Stanley sanctioned 15,000 advisers to officially offer these funds as portfolio additions.\u00a0Furthermore, the digital asset industry has recently made an unexpected foray into the US political scene as party and candidate opinions on crypto policy now look pivotal in upcoming elections in November.\u00a0 It appears this nascent industry may finally receive sufficient support from the US government in terms of regulations and legitimacy, which can boost the performance of various cryptocurrencies especially Bitcoin over 12 &#8211; 18 months.\u00a0 BTC Price Overview\u00a0 At the time of writing, Bitcoin continues to trade at $60,944 with a 0.44% increase in the last seven days. Meanwhile, the token\u2019s daily trading volume is down by 52.88% and valued at $15.7 billion. Related Reading: Morgan Stanley Authorizes Advisors To Offer Bitcoin ETF Products, Report Featured image from The Economic Times, chart from Tradingview<\/p>\n","protected":false},"author":581,"featured_media":609787,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,1119,29529,8622,92630],"class_list":["post-634634","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-btc","tag-bull-cycle","tag-morgan-stanley","tag-van-de-poppe"],"acf":[],"yoast_head":"\n<title>Bitcoin To Rally To $250,000 If This Condition Is Met - Analyst Says<\/title>\n<meta name=\"description\" content=\"As Bitcoin currently retains a range-bound movement, Micha\u00ebl van de Poppe has revealed a likely condition for the token\u2019s next bullish run.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-to-rally-to-250000-if-this-condition-is-met-analyst-says\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin To Rally To $250,000 If This Condition Is Met - 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While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others. In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies. Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative. Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information. Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets. Outside his work, Semilore possesses other passions like all individuals. 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