{"id":15196,"date":"2024-07-14T13:55:29","date_gmt":"2024-07-14T10:55:29","guid":{"rendered":"https:\/\/forklog.com\/en\/analyst-identifies-the-onset-of-bitcoins-new-cycle\/"},"modified":"2024-07-14T13:55:29","modified_gmt":"2024-07-14T10:55:29","slug":"analyst-identifies-the-onset-of-bitcoins-new-cycle","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/analyst-identifies-the-onset-of-bitcoins-new-cycle\/","title":{"rendered":"Analyst Identifies the Onset of Bitcoin&#8217;s &#8216;New Cycle&#8217;"},"content":{"rendered":"<p>As the leading cryptocurrency surged to $60,000, analyst and MN Trading founder Micha\u00ebl van de Poppe declared the beginning of a &#8216;new cycle&#8217;.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> just started a new cycle. <\/p>\n<p>BlackRock already mentioned that \u2018Bitcoin is a hedge against global uncertainty\u2019.<\/p>\n<p>Similar to what Gold was in the 1930\u2019s. <\/p>\n<p>The assassination attempt on Trump confirms this.<\/p>\n<p>The World Order is changing, and Bitcoin is our solution.<\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1812398552603050289?ref_src=twsrc%5Etfw\">July 14, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;BlackRock already mentioned that \u2018Bitcoin is a hedge against global uncertainty\u2019. Similar to what Gold was in the 1930\u2019s. The assassination attempt on [Donald] Trump confirms this. The World Order is changing, and Bitcoin is our solution,&#8221; he wrote.<\/p>\n<\/blockquote>\n<p>At the time of writing, digital gold is trading around $60,300, having gained 3.5% in a day. Its market capitalization has recovered to $1.18 billion, according to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\">CoinGecko<\/a>.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/docsz\/AD_4nXfxHDxbm5Hnan4kulRl3ZInf9T1lAqwpINrAp4qHyH_TziqcXmU_tcsOUaX9NfZNFwDRY2rwjRiR4iySxG7cAD25mS3KQQvj1GkOjpkNQzFaupOq21yRW4xnrz9Yu89fpc94abBo9XI3o9RyxOSWEGvUE99?key=Ks5p25louV_rleUac2zZOA\" alt=\"Analyst Identifies the Onset of Bitcoin's 'New Cycle'\"\/><figcaption class=\"wp-element-caption\">15-minute BTC\/USDT chart on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>On July 13, technical analyst Ali suggested that an &#8216;ascending triangle&#8217; pattern had formed on Bitcoin&#8217;s four-hour chart. According to his calculations, a breakout above the $59,200 resistance level could propel it to $63,800.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> seems to be forming an ascending triangle on the four-hour chart. A successful break above the $59,200 resistance level could propel <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> to $63,800! <a href=\"https:\/\/t.co\/VOuPwd8hzm\">pic.twitter.com\/VOuPwd8hzm<\/a><\/p>\n<p>\u2014 Ali (@ali_charts) <a href=\"https:\/\/twitter.com\/ali_charts\/status\/1812094121290690762?ref_src=twsrc%5Etfw\">July 13, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>After Bitcoin reached $60,000, the expert urged caution. In his observations, the asset is still trading below the 200-day simple moving average (200 DSMA).<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> trading below the 200-day simple moving average calls for caution, as the dip may deepen. Wait for a sustained close above the 200-day SMA to confirm the continuation of the <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> uptrend! <a href=\"https:\/\/t.co\/opU3ivpGxx\">pic.twitter.com\/opU3ivpGxx<\/a><\/p>\n<p>\u2014 Ali (@ali_charts) <a href=\"https:\/\/twitter.com\/ali_charts\/status\/1812287394755883173?ref_src=twsrc%5Etfw\">July 14, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Wait for a sustained close above 200 DSMA to confirm the continuation of the uptrend,&#8221; advised Ali.<\/p>\n<\/blockquote>\n<p>Trader Crypto Tony noted that &#8220;it would be great for the bulls to see a return to $60,500&#8221;.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> \/ <a href=\"https:\/\/twitter.com\/search?q=%24USD&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$USD<\/a> \u2014 Update <\/p>\n<p>$60,500 reclaim would be awesome to see today for the bulls. Real sign of strength if we get it <a href=\"https:\/\/t.co\/gIAAAYjXU8\">pic.twitter.com\/gIAAAYjXU8<\/a><\/p>\n<p>\u2014 Crypto Tony (@CryptoTony__) <a href=\"https:\/\/twitter.com\/CryptoTony__\/status\/1812385098152435919?ref_src=twsrc%5Etfw\">July 14, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;A real sign of strength if we get it,&#8221; he emphasized.<\/p>\n<\/blockquote>\n<p>User Daan Crypto Trades pointed out that recently Bitcoin has been rising over the weekend only to fall again at the start of the week. In his post, he compared the asset&#8217;s dynamics with the opening of trading on the <span data-descr=\"Chicago Mercantile Exchange\" class=\"old_tooltip\">CME<\/span>.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> Has been moving up during its weekend only to give up the gains again early in the week.<\/p>\n<p>I&#8217;d still be a fan of eventually breaking higher during a weekend and not closing the gap to sideline a lot of participants. <\/p>\n<p>We&#8217;ve seen this a few times during the previous cycle\u2026 <a href=\"https:\/\/t.co\/3acvtT2ubn\">pic.twitter.com\/3acvtT2ubn<\/a><\/p>\n<p>\u2014 Daan Crypto Trades (@DaanCrypto) <a href=\"https:\/\/twitter.com\/DaanCrypto\/status\/1812118384311463988?ref_src=twsrc%5Etfw\">July 13, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;We&#8217;ve seen this a few times during the previous cycle, where illiquid weekends were used to achieve growth and surprise many when [a pullback occurs] on Monday. This usually leads to some distrust, which grows into a strong decline, only fueling high prices,&#8221; he added.<\/p>\n<\/blockquote>\n<p>Previously, Bitwise&#8217;s Chief Investment Officer Matt Hougan predicted that the leading cryptocurrency would rise to $100,000 by the end of the year. He believes that neither the Mt.Gox distribution, nor sales by the German authorities, nor the threat of similar actions regarding coins obtained from Silk Road will hinder this.<\/p>\n<p>Standard Chartered also maintained expectations of Bitcoin returning to its historical high in August and subsequently rising to $100,000 by the U.S. presidential elections in November.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the leading cryptocurrency surged to $60,000, analyst and MN Trading founder Micha\u00ebl van de Poppe declared the beginning of a &#8216;new cycle&#8217;. #Bitcoin just started a new cycle. BlackRock already mentioned that \u2018Bitcoin is a hedge against global uncertainty\u2019. Similar to what Gold was in the 1930\u2019s. The assassination attempt on Trump confirms this. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15195,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1145,1138],"class_list":["post-15196","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-market-analysis","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"9","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/15196","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=15196"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/15196\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/15195"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=15196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=15196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=15196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}