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    NFT sales pump 37% to $144.8m, Immutable dethrones Ethereum

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    Pudgy Penguins Joins Lufthansa for Real Travel Rewards

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    Solsniper Closes NFT Marketplace After 3.5 Years, Shifts Focus to Trading Bot Development

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    Ethereum Token Platform Zora Sues Deloitte Over AI Trademark Dispute

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    OpenSea sunsets ‘Deals,’ other features in OS2 shakeup

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    Doodles NFT Sticker Launch on Telegram Sells Out in 24 Hours

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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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    Enhancing Security in Online Gambling with Blockchain Technology

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    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

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    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

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    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

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    The Future of Gambling: How Casino Sites Are Leveraging Web3

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

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    Polyhedra Network launches Proof Cloud in open beta

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    SoonVerse Partners with Arris to Enhance User Experience

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

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  • Guides
    What Does DCA Mean in Crypto? A Simple Breakdown – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    A Step-by-Step Guide for Beginners

    Long and Short Positions in Crypto Explained for Beginners

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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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    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

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Home Bitcoin

Bitcoin to explode? The author of “The Bullish Case for Bitcoin” says…

April 8, 2024
in Bitcoin
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Bitcoin to explode? The author of “The Bullish Case for Bitcoin” says…
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Bitcoin nears $91K as buying pressure soars, but challenges emerge

Spot Bitcoin ETF Options – How U.S exposure is set to soar after CFTC’s notice

  • BTC cycle theorists confident of an imminent parabolic rally 
  • However, short-term hurdles persist for BTC bulls.

After a rough start in Q2, 2024, Bitcoin [BTC] has remarkably recovered from a low of $64.5K to $69.7K at press time. That’s an over $5K upswing and an 8% rally for bulls that picked the dip. 

But the February-April trendline support was yet to be reclaimed at the time of writing. Nevertheless, Bitcoin market cycle theorists believe it could witness a wild parabolic rally.  

One of the theorists, Vijay Boyapati, an internet personality and author of “The Bullish Case for Bitcoin,” noted that;

“But once you get to an all-time high, there’s really no overhang of supply, and then you have an open field of price discovery where the price can start to go parabolic.”

Imminent wild BTC rally per historical data

Other market cycle theorists echoed a similar position as Boyapati. 

For instance, crypto research analyst, Rekt Capital, noted that a weekly close above the 2021 cycle high of $69K was crucial for further upside. 

“Bitcoin has recovered back above the ~$69,000 level. Now just the new Weekly Candle Close just like this to fully confirm this.”

Indeed, the weekly candlestick closed at $69.36K, which confirms his thesis. Based on the BTC cycle, the analyst sees the re-accumulation breakout as the beginning of a parabolic rally. 

On his part, Steve Courtney of Crypto Crew University, quipped that Bitcoin will be in the last stage of the bull cycle when it closes above $68.6K on the monthly chart.

See also  Ethereum Price Eyes Major Resistance At $2,100 As Analyst Reveals Bullish Price Range

Additionally, Courtney highlighted that the asset could witness a parabolic rally if BTC closed above $68.6K at the end of April. 

However, the previous multi-month trendline support, the $71K resistance level, and macro headwinds are short-term hurdles worth considering. 

Next: Can PEPE’s declining exchange supply help its price?

Tags: AuthorBitcoinBullishCaseExplodesays..

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