Why Bitcoin Price is Expected to Surpass $50K – Insights from Onchain Suggest Bull Run to $110k
Bitcoin price has been showing signs of recovery in November, fueled by the anticipation of a Bitcoin spot ETF. Look Into Bitcoin, an onchain analytics platform, suggests that the BTC bull run could potentially reach a peak of $110,000.
Assessing Bitcoin Price Outlook in the Next Bull Run
According to Look Into Bitcoin, a key on-chain indicator indicates that the BTC price could rise to $110,000 during the next bull run. Crypto enthusiasts and industry experts have been trying to predict when the bull run will reach its peak, with many speculating it could happen towards the end of 2025.
Founder of Look Into Bitcoin, Phil Swift, analyzes the Terminal Price using price forecast tools like “Transferred Price” and “Coin Days Destroyed” (CDD) to determine the potential price levels. However, it is important to note that hitting the Terminal Price is not guaranteed, as Bitcoin fell short of it in 2021 with its all-time high of $69,000.
The best strategy, according to Swift, is to sell close to the Terminal Price and make purchases near the Balanced Price.
Bitcoin Price Prediction: BTC Makes Second Attempt to Break $38,000
After reaching a new year-to-date high at $38,000, Bitcoin price experienced a slight dip. However, investors remain optimistic about the ongoing uptrend. The Moving Average Convergence Divergence (MACD) indicator could validate the uptrend if the blue MACD line flips above the red signal line, potentially leading to gains above $40,000 and bringing the $50,000 level within reach.
It is important to note that failure to break above the $38,000 to $40,000 range could result in consolidation with support from the ascending channel’s middle boundary. A break below this support level could lead to a further drop to $33,000.
Disclaimer
The presented content includes the personal opinion of the author and is subject to market conditions. It is advisable to conduct thorough market research before investing in cryptocurrencies. The author and the publication do not hold any responsibility for personal financial losses.
