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Home»Bitcoin»Analyst Predicts $200,000 Bitcoin in Coming ‘Supply Shock’
Bitcoin

Analyst Predicts $200,000 Bitcoin in Coming ‘Supply Shock’

2024-11-20No Comments3 Mins Read
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This article is available in Spanish.

Crypto Rover, a leading crypto analyst, has identified critical indicators in the market dynamics of Bitcoinsuch as a decline in foreign exchange reserves and a favorable chart pattern suggesting a $200,000 price target.

Related reading

His analysis is consistent with Bernstein’s long-term projection, which reinforces the idea that Bitcoin could experience substantial growth in the coming years.

These predictions have investors and analysts alike eagerly awaiting Bitcoin’s next major move as the market is currently in flux.

Declining foreign exchange reserves may indicate a supply shock

The consistent decline in Bitcoin reserves on exchanges is one of the most notable trends that Crypto Rover has identified. Despite the rising price of Bitcoin, more and more investors are transferring their holdings to private portfolios.

In for the first time #Bitcoin history, the balance of $BTC on the stock markets falls during a bull run.

This cycle is different.

A HUGE OFFER SHOCK IS COMING.🚨 pic.twitter.com/Yw5ZSJ4l0z

— Crypto Rover (@rovercrc) November 18, 2024

This transition underlines an increasing preference for security over liquidity, especially in light of ongoing concerns about cyber attacks and breaches.

As the amount of Bitcoin on the exchanges decreases, there could be an impending disruption. Fewer coins for trade suggest that demand would soon exceed supply, causing prices to rise significantly. This trend calls into question conventional market dynamics, which typically show reserves rising in bull markets.

Bitcoin is currently trading at $93,270. Graphic: Trading view

Bernstein’s $200,000 target and Rover’s bull flag

A bull flag pattern is forming on Bitcoin price charts, as shown by Rover’s technical analysis. This pattern often indicates the continuation of an upward trend. Rover predicts that Bitcoin will soon cross the $200,000 threshold if it crosses the critical resistance levels as indicated by this pattern.

See also  Bitcoin: Why a Correction Around $60,000 Could Be Good for You

Bernstein Analysts further echo this positive sentiment as they reaffirm their Bitcoin price target of $200,000 by 2025. Bernstein’s $100,000 price target is becoming increasingly plausible, and the long-term forecast to reach $200,000 by 2025 is gaining momentum as Bitcoin is already trading. at approximately $92,000.

🚀 Daily Crypto Movers November 19

•Bitcoin to $200,000 as Bernstein predicts a bull run in 2025 📈
•MicroStrategy adds 4.6 billion BTC with an average of 88,000 🎯
•Goldman Sachs launches tokenized products 🌐

More information⤵️#Bitcoin #CryptoNews #KuCoin

— KuCoin (@kucoincom) November 19, 2024

They attribute this potential increase to several factors, such as favorable political and regulatory conditions for Bitcoin, which are especially prevalent under a pro-crypto US administration.

Related reading

Market outlook and investor strategy

Strong technical indicators coupled with dwindling foreign exchange reserves indicate that Bitcoin is poised to make a major comeback, which would be beneficial for investors. Small changes in demand can cause significant price fluctuations as liquidity declines. This creates both risks and opportunities, so careful planning and timing are particularly important.

Bernstein also points to a major influence on the larger political arena. Especially under the leadership of incoming President Donald Trump, they hope that an environment better suited to Bitcoin’s growth will spur its expansion even further.

Featured image from Pexels, chart from TradingView



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Analyst Bitcoin coming Predicts Shock Supply
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