In 2020, while Bitcoin was still around $7,000, the same metric had sent a significant rise signal. This metric, often seen like a crystal ball, can frequently predict impressive market surges in advance. The good news is that the same metric is once again sending signals that boost investors’ hopes.
Will Cryptocurrencies Increase?
The signal highlighted by popular cryptocurrency analyst CryptoCon comes from the Ichimoku Cloud indicator. A similar sign had appeared in mid-2020 when Bitcoin was still at the $7,000 level. The following year, Bitcoin’s price nearly increased tenfold, which was quite impressive. Moreover, during the same period, altcoins experienced price increases ranging from hundreds to even thousands of times.
Ichimoku Cloud signals are rare, and they form on the weekly chart. This indicator, which has done well in the past in signaling correct buying points, indicates that we are still at the beginning of the road for BTC.
Bitcoin Price Target
CryptoCon, in a post from X account on November 27th, said that with Chikou breaking out of resistance, the price would logically run to new highs. The analyst also mentioned that the same signal had come two months earlier for the $38,000 level, and we have already reached this area.
“The weekly Ichimoku cloud, with the anticipated future crossover, informed us of our last Bitcoin surge two months in advance. Now we are waiting for the completion of our rise in the next signal and the $43,000 target to materialize. The last one took 7-11 weeks, and on average, targets are met within about 10 weeks. Therefore, we should see the Bitcoin price reach at least $43,000 by January.”
CryptoCon says that $43,200 is actually the most cautious peak point. According to him, we will most likely see a real local peak at the $48,000 level.
“Even with some pauses in between, the forward-looking indicator says our job isn’t done yet!”
The potential rally target coinciding with January is also indicated by ETF decisions. Bloomberg experts give a 90% probability to an ETF approval by January 10th, based on years of experience, making this a bold statement.
- Bitcoin’s potential surge predicted by metrics.
- Ichimoku Cloud signals hint at bullish trend.
- Analysts forecast significant price targets for BTC.
