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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    CryptoPunks and Pudgy Penguins Draw Major Sales

    NFT Sales Spike in July—but Still Miles Below 2024’s Highs

    NFT Sales Spike in July—but Still Miles Below 2024’s Highs

    Ethereum Collections Lead NFT Sales Today

    Ethereum Collections Lead NFT Sales Today

    how NFTs became a global brand and a Web3 “social currency”

    how NFTs became a global brand and a Web3 “social currency”

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    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

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    Labubus have succeeded in every way that NFTs have failed

    CryptoPunks Floor Price Hits 3-Year High of $208,000

    CryptoPunks Floor Price Hits 3-Year High of $208,000

    NFT sales surge to $574 million in July, second-highest in 2025

    NFT sales surge to $574 million in July, second-highest in 2025

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    Crypto Scammer Gets Prison Time for Swiping NFTs, Coins via Hacked X Accounts

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    Ethereum NFT Sales Surge 56% in July 2025 as Alt-Chains Lose Market Share

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    The Biggest Games Releasing in August 2025

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    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

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    Early Off the Grid Skin Holders Are Cashing In – Will You?

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    This Game Lets You Relive the Ethereum Story Through Vitalik Buterin’s Eyes

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    NFTs at Your Fingertips: Inside Japan’s NFT Vending Machine Trend

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  • Blockchain
    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

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  • AI
    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

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    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

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    ChatGPT is a tad too enthusiastic about Ethereum’s prospects

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    UAE emirate launches new free zone for digital assets, Web3 and AI

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  • Guides
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    What’s the Difference & Which Is Better to Trade?

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    Think Your Cold Wallet Is Safe? Not If You Make These 7 Mistakes

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    What Is Copy Trading in Crypto? A Beginner’s Guide

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    What Is Crypto Staking? How to Earn Crypto by Holding It

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  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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Home Altcoins

Bitcoin Might Be Poised For A ‘Double Pump Cycle,’ Reveals Analyst

March 19, 2024
in Altcoins
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Bitcoin Might Be Poised For A ‘Double Pump Cycle,’ Reveals Analyst
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Bitcoin’s recent downturn has prompted renowned crypto analyst Willy Woo to offer a fresh perspective on the cryptocurrency’s future trajectory. Woo’s analysis, based on the surge in Bitcoin’s Macro Index, suggests an optimistic outlook for the leading digital currency, potentially indicating a pivotal shift in market dynamics.

Unveiling Bitcoin Double Pump Prediction

Willy Woo, a figure well-respected in the cryptocurrency analysis sphere, has recently shared insights that paint an intriguing future for Bitcoin.

According to Woo, the notable increase in the Bitcoin Macro Index could signal more than just a recovery; it might be the precursor to a rare “double pump” cycle.

Bitcoin Macro Index
BTC Macro Index. Source: Willy Woo on X

Drawing parallels with the market patterns 2013, Woo’s forecast points towards two significant price surges for Bitcoin in the coming years. He anticipates the first peak by mid-2024 and a second, even more substantial top in 2025.

This dual surge scenario, though historically uncommon, aligns with Woo’s analysis of current market conditions and Bitcoin’s intrinsic growth potential.

At the rate the #Bitcoin Macro Index is pumping, I wouldn’t be surprised if we get a top by mid-2024, which would hint at a double pump cycle like 2013… a second top in 2025. pic.twitter.com/i2a0V5ytPv

— Willy Woo (@woonomic) March 19, 2024

Navigating Through The Bearish Terrain

Meanwhile, the past week has not been kind to BTC, with the asset experiencing a roughly 10% decline. This downward trend extended over the past 24 hours, seeing Bitcoin’s value dip by 4.9%, bringing its price to around $65,000—a sharp fall from its recent peak above $73,000.

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Bitcoin (BTC) price chart on TradingView
BTC price is moving sideways on the 4-hour chart. Source: BTC/USDT on TradingView.com

Amid this bearish price action, IntoTheBlock, a notable crypto analytics firm, suggests the $61,000 level as a critical demand zone, highlighted by the significant volume of Bitcoin purchased at this price point.

This area is deemed attractive for accumulation by institutional investors and large-scale traders, suggesting a possible recovery in the near future.

Bitcoin is looking for support. But where will it find it?
The $61k range could be a key area to keep an eye on. 805k addresses acquired over 466k BTC at this level, indicating a healthy appetite for $BTC around that level. pic.twitter.com/XYw7LSC6Ji

— IntoTheBlock (@intotheblock) March 19, 2024

Additionally, as Bitcoin navigates its current market challenges, cryptocurrency analyst Charles Edwards points out that a typical pullback during a Bitcoin bull run amounts to about 30%.

With BTC having experienced its longest winning streak in history, a corrective dip to $59,000 or even $51,000, as per some predictions, remains within the realm of possibility.

A normal Bitcoin bullrun pullback is 30%. Back in December, we were already in the longest winning streak in Bitcoin’s history. A 20% pullback here takes us to $59K. A 30% pullback would be $51K. These are all levels we should be comfortable expecting as possibilities.

— Charles Edwards (@caprioleio) March 19, 2024

These levels represent potential buying opportunities for investors looking to capitalize on Bitcoin’s cyclical nature and its anticipated ascension post-pullback.

Featured image from Unsplash, Chart from TradingView

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Tags: AnalystBitcoinCycledoublePoisedPumpreveals

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