{"id":16423,"date":"2024-08-27T12:53:33","date_gmt":"2024-08-27T09:53:33","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-analyst-predicts-mad-season-with-150000-target\/"},"modified":"2024-08-27T12:53:33","modified_gmt":"2024-08-27T09:53:33","slug":"bitcoin-analyst-predicts-mad-season-with-150000-target","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-analyst-predicts-mad-season-with-150000-target\/","title":{"rendered":"Bitcoin Analyst Predicts &#8216;Mad Season&#8217; with $150,000 Target"},"content":{"rendered":"<p>The leading cryptocurrency is poised to enter a &#8220;mad season,&#8221; during which its price could soar to $150,000 by the end of 2024, according to Real Vision analyst Jamie Coutts.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Unless something fundamentally has changed, we are entering what <a href=\"https:\/\/twitter.com\/RaoulGMI?ref_src=twsrc%5Etfw\">@RaoulGMI<\/a> refers to as the ?zone, or what I would describe as <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> batshit season. <a href=\"https:\/\/t.co\/pMxk49ATtq\">pic.twitter.com\/pMxk49ATtq<\/a><\/p>\n<p>\u2014 Jamie Coutts CMT (@Jamie1Coutts) <a href=\"https:\/\/twitter.com\/Jamie1Coutts\/status\/1828044742682141108?ref_src=twsrc%5Etfw\">August 26, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The expert highlighted the potential for the price to enter the so-called &#8220;banana zone,&#8221; a term used by the firm&#8217;s founder and CEO Raoul Pal to describe euphoria. This will occur &#8220;if nothing fundamentally changes,&#8221; the analyst added.<\/p>\n<p>On the chart, Coutts noted that in the previous two bull cycles, Bitcoin reached a new all-time high within 365 days after the US dollar index peaked.<\/p>\n<p>According to calculations, if previous patterns hold, the growth of digital gold could exceed 100% from $64,000 and reach $150,000 by the end of 2024.<\/p>\n<p>Trendstorm CEO Philip Swift pointed out the return of the leading cryptocurrency&#8217;s spot price above the average purchase cost for short-term investors, which should be seen as a signal for continued upward momentum.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Back where we belong.<a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> now back above Short-Term Holder Realized Price, the cost basis of short-term investors. Bullish. <a href=\"https:\/\/t.co\/9EYt9FPlOU\">pic.twitter.com\/9EYt9FPlOU<\/a><\/p>\n<p>\u2014 Philip Swift (@PositiveCrypto) <a href=\"https:\/\/twitter.com\/PositiveCrypto\/status\/1828003992351420737?ref_src=twsrc%5Etfw\">August 26, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2 class=\"wp-block-heading\"><strong>Bearish Arguments<\/strong><\/h2>\n<p>CryptoQuant<a href=\"https:\/\/cryptoquant.com\/insights\/quicktake\/66cbb54f1f00ab5dee89f4b5-Sellers-have-become-active\"> expressed doubts<\/a> about the immediate realization of a bullish scenario due to the activation of large bears focused on the short term.<\/p>\n<p>According to analysts&#8217; observations, amid last week&#8217;s rally, some &#8220;stagnant metrics&#8221; have begun to show signs of revival.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Speculators holding coins for a week to a month transferred 33,155 BTC. The slowdown in price growth suggests that prices could shift to a free retreat,&#8221;<\/em> the specialists wrote.<\/p>\n<\/blockquote>\n<p>Experts advised &#8220;exercising particular caution&#8221; due to the risks of a potential sell-off intensifying.<\/p>\n<p>The Bitcoin futures market also reflects traders&#8217; caution. The premium on two-month contracts to the spot price has remained around 6% annualized over the past month, indicating a reluctance to increase leverage.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-1174.webp\" alt=\"1-1174\" class=\"wp-image-239725\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/www.laevitas.ch\/\">Laevitas<\/a>.<\/figcaption><\/figure>\n<p>Earlier, QCP Capital predicted that the leading cryptocurrency&#8217;s rate would remain in a narrow range between $62,000 and $67,000 in the near term, as indicated by indecision in options.<\/p>\n<p>Previously, analysts recorded significant purchases of December calls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The leading cryptocurrency is poised to enter a &#8220;mad season,&#8221; during which its price could soar to $150,000 by the end of 2024, according to Real Vision analyst Jamie Coutts. Unless something fundamentally has changed, we are entering what @RaoulGMI refers to as the ?zone, or what I would describe as #Bitcoin batshit season. pic.twitter.com\/pMxk49ATtq [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16422,"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":[1168,1146],"class_list":["post-16423","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crypto-derivatives","tag-cryptocurrency-market-forecasts"],"aioseo_notices":[],"amp_enabled":true,"views":"12","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/16423","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=16423"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/16423\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/16422"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=16423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=16423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=16423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}