{"id":13438,"date":"2024-12-21T12:30:01","date_gmt":"2024-12-21T12:30:01","guid":{"rendered":"https:\/\/cryptd.in\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\/"},"modified":"2024-12-21T12:30:01","modified_gmt":"2024-12-21T12:30:01","slug":"bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why","status":"publish","type":"post","link":"https:\/\/cryptd.in\/nb\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\/","title":{"rendered":"Bitcoin Price Could Rally To $178,000 If History Repeats \u2014 Here\u2019s Why"},"content":{"rendered":"

The price of Bitcoin fell to around $92,000, Friday afternoon, December 20 after the US Federal Reserve\u2019s rate cut triggered a sharp selloff<\/a> in the crypto market. However, the premier cryptocurrency seems to be recovering nicely, having returned above the $97,000 level on the same day.<\/p>\n

While investors would be hoping to see the Bitcoin price reclaim its current all-time high of $108,135 again, a prominent crypto analyst has put forward an audacious target for the market leader. Below is the rationale behind the new bullish target for the Bitcoin price.<\/p>\n

Can Bitcoin Price Repeat This 86% Rally?<\/strong><\/h2>\n

In a new post on the X platform, NewsBTC head of research Tony \u201cThe Bull\u201d Severino delt<\/a> an interesting prognosis for the price of Bitcoin. According to the CMT-certified crypto analyst, the flagship cryptocurrency looks primed to reach as high as $178,000.<\/p>\n

This bullish projection is based on the Bitcoin price movement in relation to the Bollinger Bands. The Bollinger Bands is an indicator that features three lines; a simple moving average (the middle band) and an upper and lower band. This technical analysis tool helps to assess the volatility of financial markets.<\/p>\n

\"Bitcoin<\/p>\n

According to Severino, the price of BTC on the daily timeframe has retested the monthly upper Bollinger Band. From a historical perspective, this action has marked the start of significant price rallies in the past.<\/p>\n

Most recently, a similar retest occurred in late January 2024 and was followed by an 86% price rally to the former all-time high of $73,737. Severino noted that if history repeats itself<\/a> the Bitcoin price could also see an identical 86% rally from its current price point to reach a new record high of $178,000.<\/p>\n

As of this writing, the price of Bitcoin stands at around $97,265, reflecting a 0.8% increase in the past 24 hours. Nevertheless, the premier cryptocurrency is still in a 4% decline on the weekly timeframe.<\/p>\n

Here\u2019s What Needs To Happen First<\/strong><\/h2>\n

Indeed, the $178,000 target might not be all that outrageous for the Bitcoin price, especially given its performance in recent months. However, the latest on-chain data shows that the market leader needs to overcome a major resistance around $97,500 and $99,800.<\/p>\n

According to crypto pundit Ali Martinez on X<\/a>, over 924,000 addresses bought over 1.19 million BTC within the aforementioned price bracket. This becomes a resistance as buyers within the price range might look to sell their assets to break even after being in loss; this puts downward pressure on prices.<\/p>\n

\"Bitcoin<\/p>\n

Martinez, however, noted that if the price of BTC manages to successfully breach this level, investors might see the premier cryptocurrency return to its all-time high price<\/a> and perhaps forge a new one.<\/p>\n

\"Bitcoin<\/p>","protected":false},"excerpt":{"rendered":"

The price of Bitcoin fell to around $92,000, Friday afternoon, December 20 after the US Federal Reserve\u2019s rate cut triggered a sharp selloff in the crypto market. However, the premier cryptocurrency seems to be recovering nicely, having returned above the $97,000 level on the same day. While investors would be hoping to see the Bitcoin […]<\/p>\n","protected":false},"author":0,"featured_media":13440,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-13438","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"\nBitcoin Price Could Rally To $178,000 If History Repeats \u2014 Here\u2019s Why - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/nb\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\/\" \/>\n<meta property=\"og:locale\" content=\"nb_NO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Could Rally To $178,000 If History Repeats \u2014 Here\u2019s Why - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"The price of Bitcoin fell to around $92,000, Friday afternoon, December 20 after the US Federal Reserve\u2019s rate cut triggered a sharp selloff in the crypto market. However, the premier cryptocurrency seems to be recovering nicely, having returned above the $97,000 level on the same day. While investors would be hoping to see the Bitcoin […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptd.in\/nb\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\/\" \/>\n<meta property=\"og:site_name\" content=\"cryptd.in\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-21T12:30:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/pbs.twimg.com\/media\/GfRMtAEXYAELgTy?format=jpg&name=medium\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Ansl. lesetid\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutter\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\\\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Bitcoin Price Could Rally To $178,000 If History Repeats \u2014 Here\u2019s Why\",\"datePublished\":\"2024-12-21T12:30:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\\\/\"},\"wordCount\":439,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2024\\\/12\\\/2024-09-29-03.26.52-sGVtej.jpeg\",\"articleSection\":[\"Feeds\"],\"inLanguage\":\"nb-NO\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/cryptd.in\\\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\\\/\",\"url\":\"https:\\\/\\\/cryptd.in\\\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\\\/\",\"name\":\"Bitcoin Price Could Rally To $178,000 If History Repeats \u2014 Here\u2019s Why - cryptd.in\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2024\\\/12\\\/2024-09-29-03.26.52-sGVtej.jpeg\",\"datePublished\":\"2024-12-21T12:30:01+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\\\/#breadcrumb\"},\"inLanguage\":\"nb-NO\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/cryptd.in\\\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"nb-NO\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\\\/#primaryimage\",\"url\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2024\\\/12\\\/2024-09-29-03.26.52-sGVtej.jpeg\",\"contentUrl\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2024\\\/12\\\/2024-09-29-03.26.52-sGVtej.jpeg\",\"width\":460,\"height\":263},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/cryptd.in\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bitcoin Price Could Rally To $178,000 If History Repeats \u2014 Here\u2019s Why\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/#website\",\"url\":\"https:\\\/\\\/cryptd.in\\\/\",\"name\":\"cryptd.in\",\"description\":\"Alternative LinkedIn for Crypto-friendly Talents\",\"publisher\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/cryptd.in\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"nb-NO\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/#organization\",\"name\":\"cryptd.in\",\"url\":\"https:\\\/\\\/cryptd.in\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"nb-NO\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/cryptdin_logo.jpg\",\"contentUrl\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/cryptdin_logo.jpg\",\"width\":900,\"height\":900,\"caption\":\"cryptd.in\"},\"image\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/#\\\/schema\\\/logo\\\/image\\\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bitcoin Price Could Rally To $178,000 If History Repeats \u2014 Here\u2019s Why - cryptd.in","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cryptd.in\/nb\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\/","og_locale":"nb_NO","og_type":"article","og_title":"Bitcoin Price Could Rally To $178,000 If History Repeats \u2014 Here\u2019s Why - cryptd.in","og_description":"The price of Bitcoin fell to around $92,000, Friday afternoon, December 20 after the US Federal Reserve\u2019s rate cut triggered a sharp selloff in the crypto market. However, the premier cryptocurrency seems to be recovering nicely, having returned above the $97,000 level on the same day. While investors would be hoping to see the Bitcoin […]","og_url":"https:\/\/cryptd.in\/nb\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\/","og_site_name":"cryptd.in","article_published_time":"2024-12-21T12:30:01+00:00","og_image":[{"url":"https:\/\/pbs.twimg.com\/media\/GfRMtAEXYAELgTy?format=jpg&name=medium","type":"","width":"","height":""}],"twitter_card":"summary_large_image","twitter_misc":{"Ansl. lesetid":"2 minutter"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/cryptd.in\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\/#article","isPartOf":{"@id":"https:\/\/cryptd.in\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\/"},"author":{"name":"","@id":""},"headline":"Bitcoin Price Could Rally To $178,000 If History Repeats \u2014 Here\u2019s Why","datePublished":"2024-12-21T12:30:01+00:00","mainEntityOfPage":{"@id":"https:\/\/cryptd.in\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\/"},"wordCount":439,"commentCount":0,"publisher":{"@id":"https:\/\/cryptd.in\/#organization"},"image":{"@id":"https:\/\/cryptd.in\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\/#primaryimage"},"thumbnailUrl":"https:\/\/cryptd.in\/wp-content\/uploads\/2024\/12\/2024-09-29-03.26.52-sGVtej.jpeg","articleSection":["Feeds"],"inLanguage":"nb-NO","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/cryptd.in\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/cryptd.in\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\/","url":"https:\/\/cryptd.in\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\/","name":"Bitcoin Price Could Rally To $178,000 If History Repeats \u2014 Here\u2019s Why - cryptd.in","isPartOf":{"@id":"https:\/\/cryptd.in\/#website"},"primaryImageOfPage":{"@id":"https:\/\/cryptd.in\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\/#primaryimage"},"image":{"@id":"https:\/\/cryptd.in\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\/#primaryimage"},"thumbnailUrl":"https:\/\/cryptd.in\/wp-content\/uploads\/2024\/12\/2024-09-29-03.26.52-sGVtej.jpeg","datePublished":"2024-12-21T12:30:01+00:00","breadcrumb":{"@id":"https:\/\/cryptd.in\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\/#breadcrumb"},"inLanguage":"nb-NO","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cryptd.in\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\/"]}]},{"@type":"ImageObject","inLanguage":"nb-NO","@id":"https:\/\/cryptd.in\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\/#primaryimage","url":"https:\/\/cryptd.in\/wp-content\/uploads\/2024\/12\/2024-09-29-03.26.52-sGVtej.jpeg","contentUrl":"https:\/\/cryptd.in\/wp-content\/uploads\/2024\/12\/2024-09-29-03.26.52-sGVtej.jpeg","width":460,"height":263},{"@type":"BreadcrumbList","@id":"https:\/\/cryptd.in\/bitcoin-price-could-rally-to-178000-if-history-repeats-heres-why\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/cryptd.in\/"},{"@type":"ListItem","position":2,"name":"Bitcoin Price Could Rally To $178,000 If History Repeats \u2014 Here\u2019s Why"}]},{"@type":"WebSite","@id":"https:\/\/cryptd.in\/#website","url":"https:\/\/cryptd.in\/","name":"cryptd.in","description":"Alternativ LinkedIn for kryptovennlige talenter","publisher":{"@id":"https:\/\/cryptd.in\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/cryptd.in\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"nb-NO"},{"@type":"Organization","@id":"https:\/\/cryptd.in\/#organization","name":"cryptd.in","url":"https:\/\/cryptd.in\/","logo":{"@type":"ImageObject","inLanguage":"nb-NO","@id":"https:\/\/cryptd.in\/#\/schema\/logo\/image\/","url":"https:\/\/cryptd.in\/wp-content\/uploads\/2024\/05\/cryptdin_logo.jpg","contentUrl":"https:\/\/cryptd.in\/wp-content\/uploads\/2024\/05\/cryptdin_logo.jpg","width":900,"height":900,"caption":"cryptd.in"},"image":{"@id":"https:\/\/cryptd.in\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/cryptd.in\/nb\/wp-json\/wp\/v2\/posts\/13438","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptd.in\/nb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptd.in\/nb\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptd.in\/nb\/wp-json\/wp\/v2\/comments?post=13438"}],"version-history":[{"count":0,"href":"https:\/\/cryptd.in\/nb\/wp-json\/wp\/v2\/posts\/13438\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptd.in\/nb\/wp-json\/wp\/v2\/media\/13440"}],"wp:attachment":[{"href":"https:\/\/cryptd.in\/nb\/wp-json\/wp\/v2\/media?parent=13438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptd.in\/nb\/wp-json\/wp\/v2\/categories?post=13438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptd.in\/nb\/wp-json\/wp\/v2\/tags?post=13438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}