On a low-volatility Saturday, Bitcoin experienced a slight decline of 0.13% and tried to hold steady above the $65,000 mark. This minor pullback appears to be a short-term cooling off, with prices consolidating above key support after three weeks of gains fueled by favorable macroeconomic conditions and new inflows into Bitcoin ETFs. It will be. Is this bullish momentum strong enough to finally break the 7-month sideways trend and mirror NVIDIA's 2024 bull run?
Bitcoin price prediction if matched with Nvidia’s $3.2 trillion market cap
Bitcoin price has been stable for the past seven months, creating a sideways trend in the cryptocurrency market. This horizontal movement caused the BTC price to drop by 11%, trading at $65,664 from its all-time high of $73,750. According to Coingecko, Bitcoin has a market capitalization of $1.297 trillion, but the current circulating supply is 19,760,059 BTC.
If Bitcoin consolidation leads to an upside breakout similar to Nvidia's 2024 bull run, and BTC's market cap reaches $3.2 trillion worth, how much will BTC be worth?
To understand how Bitcoin's price would react if it matched Nvidia's peak, it is essential to look at the correlation between market cap and price. Assuming that the circulating supply of BTC remains unchanged at $19,760,059, an increase in market cap to $3.2 trillion would result in Bitcoin price increasing to approximately $161,917.
Could the BTC flag pattern reflect Nvidia's 256% surge?
NVIDIA stock broke out of a six-month rally in early 2024 as demand for AI-related technology surged. The post-breakout rally sent the asset up 256% to a new high of $140.76, bringing the market capitalization to $3.2 trillion.
Comparing weekly charts, Bitcoin price predictions show a similar consolidation in Nvidia stock, which formed before its exponential growth. In technical analysis, this temporary sideways trend indicates a flag pattern. This chart setup allows buyers to regain bullish momentum before the next leap.
Therefore, if BTC price breaks out upwards, a similar 200% growth would push the asset value to $160,000.
Conclusion:
The agency's investment in BTC ETFs and the easing of monetary policy across the market are on track to push Bitcoin prices past a seven-month slide. If it follows Nvidia's $3.2 trillion peak, BTC's value could skyrocket to around $161,917.
Frequently asked questions (FAQ)
If Bitcoin’s market cap rises to $3.2 trillion and the circulating supply stabilizes at 19,760,059 BTC, the price could reach around $161,917.
Yes, if Bitcoin experiences an upward breakout similar to Nvidia's 256% surge in 2024, a similar rally could push Bitcoin's price to around $160,000
Bitcoin has been consolidating over the past seven months, down 11% from its all-time high of $73,750.
Sahil Mahadik
Sahil is a dedicated full-time trader with over 3 years of experience in financial markets. He has a strong grasp of technical analysis and keeps a close eye on daily price movements of top assets and indices. Drawn by his fascination with financial products, Sahil enthusiastically embraced the emerging field of cryptocurrencies, where his passion for trading continues to explore opportunities.
Disclaimer: The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
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