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Cryptonary: After the miner surrender period, Bitcoin usually has a big rise that lasts for several months or even a year.
Cryptonary: After the miner surrender period, Bitcoin usually has a big rise that lasts for several months or even a year.
This site (120BtC.coM): Bitcoin has regained key support levels during the current market rebound period, which means that Bitcoin is expected to move towards $220,000 next. This price target is what cryptocurrency analysts are observing " "Miner Surrender Mode".
Cryptocurrency analysis company Cryptonary posted on the social platform They showed a mining hashrate chart showing the surrender period of miners and its characteristics. The chart shows that in previous Bitcoin halving cycles, after the miners "capitulated", the price of Bitcoin rose sharply, soaring 5,110%, 3,346% and 591 respectively during the cycles of 2012, 2016 and 2020. %. Cryptonary analysts said: Assuming that the current miner capitulation period will end in the short term, and based on today’s Bitcoin price of $64,700, the exponential decay model shows that based on the historical halving period, the potential price peak of Bitcoin in this cycle is 223,000 Dollar.
Michaelvande Poppe, a well-known cryptocurrency analyst and founder of MN Capital, said that if Bitcoin breaks through and remains above $65,000 and receives continued inflow of institutional funds, the price of the currency may climb to 100,000.
In addition, independent analyst Cryptocon also pointed out that Bitcoin prices continue to point to the "second cycle". He shared the following chart, which shows that Bitcoin prices have repeatedly tested resistance levels from 2021 historical highs, just as what happened in 2017 Case.
They explain that Bitcoin may turn “previous all-time highs” into “support levels” ahead of its most important cyclical price action. This means that if the price of Bitcoin rises to the high of $69,000 set in 2021, it is likely to enter the "price discovery period" of the parabolic upward trend.
A trader who goes by the pseudonym Nebraskangooner believes that the sharp rise in the Goon
The above is the detailed content of Cryptonary: After the miner surrender period, Bitcoin usually has a big rise that lasts for several months or even a year.. For more information, please follow other related articles on the PHP Chinese website!
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