Analysts Predict Bitcoin To Reach $45k Next Month

Analyst Predicts Bitcoin To Peak At $45k Next Month

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The bitcoin price could peak at around $45,000 next month, according to senior analyst at K33 Research, Vetle Lunde, who has analyzed data from bitcoin's previous cycles.

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The analyst predicted bitcoin would peak around May 20 at $45,000 in his blog post.

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“While no one should expect a 1:1 mirroring of the current drawdown to previous drawdowns, the resemblance to the 2018 drawdown is staggering," Lunde wrote.

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Bitcoin crashed by 84% in 2018, dropping to lows of around $3,000 after its huge 2017 bull run that saw bitcoin price reach around $20,000.

Following the 2018 bitcoin price crash, 2019 saw bitcoin surge back to almost $14,000 by the end of June.

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Earlier, Galaxy Digital CEO Mike Novogratz predicted bitcoin is all set to reach $40k if Fed starts cutting rates.

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At the time of writing, bitcoin is trading at just above $30,000, 2% up in the last 24 hrs.

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