Cryptocurrency Analyst Predicts Bitcoin Bullish Trend Just Beginning, Eyes 300 Days Ahead!
The cryptocurrency market saw Bitcoin face challenges after reaching a new all-time high in March, dropping to $53,000 levels. However, the recent recovery pushed BTC towards $70,000 following positive remarks from Donald Trump at the Bitcoin 2024 Conference. Analysts attributed this shift in investor sentiment to Trump’s endorsement, but Andre Dragosch, head of research at ETC Group, offered a more technical explanation.
Dragosch highlighted that it has been exactly 100 days since the Bitcoin halving in April, noting that historical data indicates the halving’s impact typically emerges after this timeframe. Anticipating further upward momentum in Bitcoin, Dragosch pointed to the 400-day mark for significant growth. By analyzing data from previous halvings in 2012, 2016, and 2020, Dragosch concluded that the bullish effect of halving tends to manifest after 100 days.
Speaking to Coindesk, Dragosch emphasized that Bitcoin’s rise tends to accelerate post the 100th day mark after halving, backing up his analysis with graphs showing the T value surpassing 2 by the 100th day and peaking at 400 days. According to his projections, the halving-induced bullish trend in Bitcoin is expected to take full effect by the 400th day post-halving.
With 100 days already passed since the halving, Dragosch’s chart suggests there are 300 days remaining until the 400th day, roughly equating to 10 months and pointing towards May 2025.
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