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    How long will Bitcoin’s price consolidation last?

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    30s Summary

    Bitcoin’s price fluctuations from $53,000 to $72,000 after a high of over $73,800 are likely to stabilize soon, according to charts and speculations by crypto experts, implying a possible price rise. Famous crypto analyst, Rekt Capital believes Bitcoin is poised for a price increase, whereas data from TradingView and Cointelegraph Markets Pro show a successful week ending Oct. 27 with a price of $67,938. Given that Bitcoin’s price usually peaks 518-550 days post-halving, experts believe it is still on an upward path in this cycle despite the wait. Tightening Bollinger Bands also suggest potential significant price movement, making upcoming times interesting for Bitcoin holders.

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    Bitcoin’s price has been going up and down between $53,000 and $72,000 after it dropped from its highest ever price over $73,800. This keeps happening, but according to different charts and info, this back-and-forth could be ending soon, and the price might actually start to rise.

    Famous crypto expert Rekt Capital has said on Oct. 27 that Bitcoin might be getting ready to increase in price after having a successful week. On the same day, he claimed that Bitcoin was almost managed to end a week with a price over $67,900.

    Cointelegraph Markets Pro and TradingView have data that shows Bitcoin had a successful week between Oct. 26 and Oct. 27, ending with a price of $67,938, which Rekt Capital thinks is a good result.

    In usual cases, Bitcoin’s price gets its highest point between 518 and 550 days after being cut in half. Despite being a long wait, Rekt Capital believes that Bitcoin is still going up in this current cycle by about 35 days. The longer it stays like this after the halving, the sooner it will get back on track with the usual halving cycle.

    People are also expecting a boost in BTC’s price because of its volatility indicator. Crypto analyst “The Bull” Severino claims that the conditions of the Bollinger Bands are getting tighter on the two-week timeframe which could mean a big price move is about to happen. Bollinger Bands are a classic volatility and momentum indicator, and according to Severino, it’s now “among the three tightest instances in history”

    He also notes that the two times when the two-week Bollinger Bands were this tight were in October 2023 and Sept. 2015. In October 2023, the BTC/USD pair rose from around $26,500, going up around 180% to an all-time high of $73,835 in March 2024.

    The other time was in September 2015, preceding an 8,300% rally in BTC price to 2017’s all-time high near $20,000.

    So if history repeats itself, Bitcoin might soon break out of its current stage to new heights within the next few months. Another analyst, CryptoCon, also agrees that the Bitcoin bull market might be coming next based on the Bollinger Bands getting tighter. Interesting times ahead for Bitcoin holders!

    Remember, none of this is financial advice. Investing and trading always come with risks, so make sure to do your research before making any decisions.

    Source: Cointelegraph

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