Any hack of Bitcoin could send it up to between 250 and 350 thousand dollars

It was September 2021 The month of poor performance of Bitcoin and the crypto space in general, as of now, the crypto market is losing 7.5% of its value under a strong correction, and slips under 2 Trillion dollars in valuations.

as i lost Bitcoin A similar ratio of 7%It is currently traded at 45.093 dollars, with a market cap of 848 Billion dollar.

However, this long-term cracking indicates that the collection Bitcoin, can lead the currency to a price 250 And350 thousand dollars by the end of the year.

Bitcoin price falls to the limits of 47 thousand dollars with the weekly close

Bitcoin Rally

Although passing 15 month off Bitcoin halved in May 2020However, some analysts have not yet forgotten it.

pseudo cipher parser extracts Harrington House Bit Harington, conclusions from courses Bitcoin previous.

Bitcoin halving is traditionally an elevator event, as it cuts off mining rewards Bitcoin to half.

The shortfall in the supply of Bitcoin represents a significant increase in prices, and after the first two halves of 2012 And2016, the price has gone up Bitcoin in the rate of 600% every time.

It schemes Bitcoin Determined by Plan B From stock to flow, remain 60 A thousand dollars as current resistance, and if you can Bitcoin From giving a convincing success above this, it can crowd between 250 and 300 one thousand dollars.

As we can see in the image above, the horizontal lines represent the resistance as well as the support, and traders are testing these multiple breaches, before they succeed in breaking them and making new highs.

Warnings of El Salvador's Credit Rating Downgrade with Bitcoin Adoption

Bitcoin double top after halving

As Harrington explains, Bitcoin always faces “double cover Before breaking out above the resistance band, he adds:

“From this perspective, there is a double top for Bitcoin after each halving, which wasn't really obvious after the 2 halving (like the obvious double top after the 1 halving).

But you can still see this double top in different indicators, such as the RSI RSI weekly".

Other crypto market analysts also supported this idea, and the analyst Michael van de Poppe  He is also a supporter of the fractal theory.

However, the fractal theory also indicates that after a significant rise in prices, the price of Bitcoin It collapses back to resistance levels, where it tracks de pop:

“This is very logical and also goes in line with my thoughts somewhere in the 2017. A great boom appeared at a later stage until between 250 and 350 thousand dollars, then fell to 65 one thousand dollars ".

Did Henry Ford Predict Bitcoin 100 Years Ago?