Bitcoin Could Hit $200,000 Within 260 Days If This Technical Indicator Is Correct
Bitcoin (CRYPTO: BTC) could more than double its price in the near future, according to a prediction from BCA Research.
What Happened: The firm forecasts that the cryptocurrency may exceed $200,000, supported by its analysis of Bitcoin’s 260-day fractal dimension complexity—a metric that evaluates patterns in price changes over a specific time frame, Coindesk reported.
This metric, which evaluates price patterns, suggests a significant upside if it falls below the critical 1.20 threshold.
“Bitcoin’s structural uptrend is intact with an ultimate destination of $200,000+,” noted Dhaval Joshi, BCA’s Chief Strategist, in a Nov. 14 note.
QCP Capital on Monday highlighted the robustness of Bitcoin’s rally while acknowledging market dynamics and risks.
“We believe …
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