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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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    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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    Official Hyperliquid NFTs Hit All-Time High of $65,000 on OTC Desks

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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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    OpenSea sunsets ‘Deals,’ other features in OS2 shakeup

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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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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    The Future of Gambling: How Casino Sites Are Leveraging Web3

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

    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

  • Metaverse
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    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

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    Experience to Earn: Everdome’s Metaverse Frontier

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    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

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    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

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    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

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    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

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    Somnia Launches Playground App to Empower Metaverse Creators

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    FC Barcelona unveils Barca Pass crypto wallet, NFT avatars

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    Guild of Guardians Leads Despite Dip as SuperRare and Panini Skyrocket

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    Official Hyperliquid NFTs Hit All-Time High of $65,000 on OTC Desks

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    NFTs Weekly Sales Surge 24% to $142M, Guild of Guardians & Immutable Dominate in Sales

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

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

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    IN-Match3 Joins Forces with Adventure Layer to Scale GameFi, Boost Accessibility & Profitability

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    Civitas Migrates to Immutable zkEVM to Power Low-Cost, Scalable Web3 Gaming & Web3 Network Growth

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    Doodles NFT Sticker Launch on Telegram Sells Out in 24 Hours

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    Crypto Casinos Made Over $80 Billion in 2024

    A16z-backed Spekter Games founder shares Telegram gaming ethos

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    How Mobile Apps Are Quietly Adopting Web3 Tech

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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

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

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    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

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    LFG Boosts Token Launches with Community Power

    Polyhedra Network launches Proof Cloud in open beta

    Polyhedra Network launches Proof Cloud in open beta

    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

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    SoonVerse Partners with Arris to Enhance User Experience

    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

  • 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

    ETH Daddy Discusses Ethereum and AI

    ETH Daddy Discusses Ethereum and AI

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

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

    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
    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

    Long and Short Positions in Crypto Explained for Beginners

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    What Does FUD Mean in Crypto? The Fear, Uncertainty, and Doubt Effect

    What Does FUD Mean in Crypto? The Fear, Uncertainty, and Doubt Effect

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

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

    What Are Liquidity Pools? A Guide to DeFi Explained Simply

    What Are Liquidity Pools? A Guide to DeFi Explained Simply

    What Is Yield Farming in Crypto? A Beginner’s Guide to DeFi Income

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    What Is Asset Tokenization? Types, Why It Matters Now [2025]

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    Key Innovations, Challenges, and What Comes Next

  • 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)

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

    Dogecoin Bull run

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    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

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    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    Top Trader Sees Bitcoin Skyrocketing 570% in Next Bull Market Amid Soaring US Debt Levels

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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Home Bitcoin

If THIS is true, Bitcoin’s new ATH will be in the next 6 months

February 18, 2024
in Bitcoin
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If THIS is true, Bitcoin’s new ATH will be in the next 6 months
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  • BTC was up by more than 9% in the last seven days. 
  • A few indicators looked bullish, but the rest suggested otherwise.

Bitcoin [BTC] once again surprised investors as it crossed over the $51,000 mark after plummeting under $49,000 a few days ago. Though this already looked pretty optimistic, the best part might be in store for later, as new data suggested that BTC might pump further.

Therefore, to see what might happen next, AMBCrypto checked BTC’s metrics. 

What suggests a Bitcoin ATH?

Bitcoin displayed commendable performance in the last seven days as its price surged above $51k. According to CoinMarketCap, BTC was up by nearly 10% in the last seven days.

At the time of writing, it was trading at $51,781.49 with a market capitalization of more than $1 trillion.

The good news was that, as per IntoTheBlock’s prediction, the king of crypto might reach an all-time high within six months. 


Source: X

To be precise, the chances of BTC touching an ATH were 85%, as per the analytics platform’s prediction. To see whether that’s possible, AMBCrypto took a look at Bitcoin’s on-chain metrics.

Our analysis revealed that BTC’s Network Value to Transactions (NVT) ratio dipped last week. A drop in the metric means that an asset is undervalued, hinting at a price hike.


Source: Glassnode

A few other metrics also looked pretty bullish for BTC. For instance, BTC’s funding rate was green. CryptoQuant’s data also revealed that Bitcoin’s taker buy/sell ratio was positive, indicating that buying sentiment was dominant in the market.

Apart from that, the king of cryptos is also expecting its next halving within a few months. Historically, BTC has always reached a new ATH a few months after its halvings. Therefore, considering these indicators, BTC reaching new highs seemed high. 

See also  If this is true, Arbitrum can soon touch $2

Not everything is picture-perfect 

Though the aforementioned metrics were bullish, a few of the other metrics told a different story. For example, BTC’s aSORP was red, meaning that more investors were selling at a profit.

In the middle of a bull market, it can indicate a market top. Its Binary CDD also followed a similar route, indicating that long-term holders’ movements in the last 7 days were higher than the average, which was bearish.


Source: CryptoQuant

On top of that, BTC’s Fear and Greed Index had a reading of 76 at press time, meaning that the market was in a state of “greed.”

Whenever the metric reaches that level, it hints at a possible price correction. Therefore, AMBCrypto checked Bitcoin’s daily chart to find out whether a downtrend is around the corner.


Read Bitcoin’s [BTC] Price Prediction 2024-25


As per our analysis, BTC’s Relative Strength Index (RSI) was in the overbought zone. This can increase selling pressure on the coin and, in turn, push the coin’s value down in the coming days.

But nothing can be said with certainty as the MACD remained in the buyers’ favor as it displayed a bullish advantage in the market. 


Source: TradingView

 

Next: Dogecoin: Assessing whether a breakout is coming soon

READ ALSO

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 was up by more than 9% in the last seven days. 
  • A few indicators looked bullish, but the rest suggested otherwise.

Bitcoin [BTC] once again surprised investors as it crossed over the $51,000 mark after plummeting under $49,000 a few days ago. Though this already looked pretty optimistic, the best part might be in store for later, as new data suggested that BTC might pump further.

See also  Reason behind Bitcoin's slumping network activity

Therefore, to see what might happen next, AMBCrypto checked BTC’s metrics. 

What suggests a Bitcoin ATH?

Bitcoin displayed commendable performance in the last seven days as its price surged above $51k. According to CoinMarketCap, BTC was up by nearly 10% in the last seven days.

At the time of writing, it was trading at $51,781.49 with a market capitalization of more than $1 trillion.

The good news was that, as per IntoTheBlock’s prediction, the king of crypto might reach an all-time high within six months. 


Source: X

To be precise, the chances of BTC touching an ATH were 85%, as per the analytics platform’s prediction. To see whether that’s possible, AMBCrypto took a look at Bitcoin’s on-chain metrics.

Our analysis revealed that BTC’s Network Value to Transactions (NVT) ratio dipped last week. A drop in the metric means that an asset is undervalued, hinting at a price hike.


Source: Glassnode

A few other metrics also looked pretty bullish for BTC. For instance, BTC’s funding rate was green. CryptoQuant’s data also revealed that Bitcoin’s taker buy/sell ratio was positive, indicating that buying sentiment was dominant in the market.

Apart from that, the king of cryptos is also expecting its next halving within a few months. Historically, BTC has always reached a new ATH a few months after its halvings. Therefore, considering these indicators, BTC reaching new highs seemed high. 

Not everything is picture-perfect 

Though the aforementioned metrics were bullish, a few of the other metrics told a different story. For example, BTC’s aSORP was red, meaning that more investors were selling at a profit.

See also  As Bitcoin gets ready for 2024, this investor cohort should take note

In the middle of a bull market, it can indicate a market top. Its Binary CDD also followed a similar route, indicating that long-term holders’ movements in the last 7 days were higher than the average, which was bearish.


Source: CryptoQuant

On top of that, BTC’s Fear and Greed Index had a reading of 76 at press time, meaning that the market was in a state of “greed.”

Whenever the metric reaches that level, it hints at a possible price correction. Therefore, AMBCrypto checked Bitcoin’s daily chart to find out whether a downtrend is around the corner.


Read Bitcoin’s [BTC] Price Prediction 2024-25


As per our analysis, BTC’s Relative Strength Index (RSI) was in the overbought zone. This can increase selling pressure on the coin and, in turn, push the coin’s value down in the coming days.

But nothing can be said with certainty as the MACD remained in the buyers’ favor as it displayed a bullish advantage in the market. 


Source: TradingView

 

Next: Dogecoin: Assessing whether a breakout is coming soon
Tags: ATHBitcoinsmonthstrue

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Comments 6

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