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Boring Bitcoin Consolidation to End, Price Expected to Skyrocket to $265K, Say Analysts – Get the Latest on TradingView News!

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Bitcoin’s price is predicted to hold steady at the $265,000 level once the current period of consolidation comes to an end, according to analysts on TradingView. The cryptocurrency Market is currently experiencing a period of stagnation, but experts believe that Bitcoin will maintain its high value once the boring phase is over. Stay tuned for more updates on the Market trends.





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Bitcoin price could continue its uptrend and triple its Market capitalization, propelling its price above $260,000, according to founder and CEO of on-chain and Market analytics firm CryptoQuant Ki Young Ju.

“Bitcoin network fundamentals could support a Market cap three times its current size compared to the last cyclical top,” Young Ju explained in a post on X.

Young Ju was referring to a chart comparing BTC’s price and the associated hash rate to Market cap ratio, highlighting the crypto’s ongoing volatility and the resilience of the Bitcoin network.

The chart reveals that Bitcoin’s hash rate to Market cap ratio has increased significantly in 2024, which suggests a possible increase in Market activity and investor interest.

The hash rate to Market cap ratio assesses the growth of mining activity relative to the Market capitalization.

If this ratio continues to grow, Young Ju declares it could “potentially sustain” Bitcoin’s price to $265,000.

In response, analyst and trader Crypto Ceaser pointed out that Young Ju’s views aligned with their analysis, which showed that BTC had formed a large cup-and-handle pattern on the weekly chart.

The setup forms when an asset in a bullish trend retraces twice, first in a wide, shallow move forming the cup and then in a smaller dip forming the handle. The cup-and-handle pattern is a bullish continuation pattern that usually forms during a price consolidation period.

If confirmed, the chart projected a BTC rally toward the technical target of the governing chart pattern at $273,693.

Crypto Caesar explained that BTC’s price is currently in a “critical area”, consolidating below its all-time highs.

He added, “If Bitcoin can start to trend above ATH’s this summer, then I anticipate a strong rally to the upside and potentially a shorter cycle.”

Although it is crucial that Bitcoin holds above its short-term holder price of $59,500 to “maintain its bullish trend,” pseudonymous crypto analyst and co-founder of CMCC Crest Willy Woo told his 1.1 million X followers.

Glassnode analysts said in a report that the average short-term holder acquisition price has always acted as a stiff barrier during bearish trends and provided strong support during bullish trends.

Meanwhile, some traders believe that Bitcoin has to produce a decisive daily candlestick close above the 50-day simple moving average (SMA) to remain bullish.

Crypto influencer Lark Davis shared this sentiment, saying, “We want to now have a breakout and produce a strong daily candle close above the 50-day SMA on the chart here.”

“BTC is currently in the process of breaking the trendline of Pennant and the 50 Daily SMA,” added Negentropic, an X account authored by the co-founders of Glassnode.

Bitcoin’s volatility is cooling off slightly as “price has been consolidating in this current range,” pseudonymous crypto trader Daan Crypto Traders told his X followers, adding, “It’s still at relatively low levels compared to last cycle. Likely to see that change as time goes on and price leaves this range.”

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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1. What factors could help sustain Bitcoin’s price at $265K?
Analysts believe institutional adoption, regulatory clarity, and increasing demand from retail investors could help maintain this price level.

2. Will Bitcoin’s price drop below $265K after consolidation ends?
There is a possibility of a temporary dip in price, but analysts suggest that long-term trends indicate growth beyond $265K.

3. How can investors prepare for potential fluctuations in Bitcoin’s price?
Diversifying their portfolios, setting stop-loss orders, and staying updated on Market trends can help investors navigate volatile price movements.

4. What role does Market sentiment play in maintaining Bitcoin’s price at $265K?
Positive sentiment among investors and traders, as well as increased mainstream acceptance of Bitcoin, can contribute to sustaining the price level.

5. Are there any potential risks that could prevent Bitcoin from staying at $265K?
Factors such as regulatory crackdowns, Market manipulation, or a sudden decrease in demand could pose risks to Bitcoin’s price sustainability. Investors should stay vigilant and adapt their strategies accordingly.

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