Bitcoin Price Forecast: Analyst Predicts $120K Breakout – Why Selling Now Could Be Risky
Arslan Butt is a professional live webinar speaker and derivatives (cryptocurrency, forex, commodities, and indices) analyst. He brings a broad range of skills to help beginners evaluate financial...
Bitcoin has been consolidating within a tight range, primarily hovering between $55,000 and $60,000. The price action appears unremarkable, but this phase could be the calm before the storm.
Crypto analyst Crypto Rover, known for his insightful market commentary, recently posted a tweet that caught the attention of the cryptocurrency community.
On his Twitter account (@rovercrc), he stated:
“This is the worst time to quit #Bitcoin…”
He highlights a critical moment in Bitcoin’s market cycle, urging investors to remain patient despite the current volatility.
Rover’s warning points to the possibility of a breakout, with strong resistance levels forming just above $58,000. Many traders expect that if Bitcoin can surpass this barrier, it may trigger a substantial price rally, potentially pushing Bitcoin to new highs.
This is the worst time to quit #Bitcoin…. pic.twitter.com/xMoWcDmyQX
Bitcoin’s halving events—scheduled reductions in miner rewards occurring approximately every four years—have historically been catalysts for massive price increases. Each halving reduces the issuance of new BTC, leading to supply constraints that typically drive up demand.
Past halvings have consistently been followed by bullish runs, sending Bitcoin to record highs within months of the event.
Yet, after Bitcoin’s fourth halving, the price action has been more subdued. Instead of the explosive growth seen in previous cycles, Bitcoin has exhibited a largely sideways trajectory, with the price hovering between $55,000 and $60,000. At the time of writing,
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