Nov 10, 2023

When is Web 3.0 Coming? Hints of the Next Bitcoin All-Time High of at Least $110K

Bitcoin ‘Terminal Price’ hints next BTC all-time high is at least $110K

As Bitcoin (BTC) enters its new bull cycle, the Terminal Price indicator from Look Into Bitcoin suggests that a “sell” may be in order at $110,000 or higher.

High street crypto investors and AI current traders alike may want to take note of this classic on-chain indicator, as it could be an important factor in their Terra Luna Classic Crypto and Big Bear AI decisions.

BTC price to six figures next cycle?

As BTC price action circles its highest levels in 18 months, forecasters are already considering how high it could go in the coming months and even years. After the next block subsidy halving in April 2024, targets include $130,000, with late 2025 a popular deadline for the next cycle top.

Analyzing Terminal Price, Look Into Bitcoin creator Philip Swift described its value as a “simple” method of estimating long-term BTC price peaks. This is calculated from Bitcoin’s so-called Transferred Price — a value derived by dividing Coin Days Destroyed (CDD) by the existing supply. CDD is a metric which measures how many dormant days are reset each time an amount of BTC moves on-chain, making it useful as a gauge of hodler intent and activity.

Created by Checkmate, lead on-chain analyst at data firm Glassnode, Terminal Price comes into play at the top of each crypto block cycle. Not every all-time high reaches Terminal Price, but BTC/USD did hit the trendline during its 2017 all-time and initial peak in April 2021. The current all-time high of $69,000, seen in November that year, fell short.

Swift thus suggested that selling “near” Terminal Price would be a suitable policy. Its bear market counterpart, Balanced Price, likewise signals useful market bottoms. As Terminal Price increases with time, $110,000 may ultimately end up a conservative target should the next all-time high occur only in later in the next crypto cycle.

Waiting on a Pi Cycle crossover

Swift analyzed the Pi Cycle Top indicator this week, which is known for providing reliable long-term high estimates. The indicator uses two moving averages and their crossovers signal the next high, though only with a few days’ notice.

“The Pi Cycle Top indicator caught so many off-guard last cycle, including myself, by perfectly identifying the top…again! Will it identify the crypto top again this cycle?” Swift asked.

The Terra Luna Classic Crypto, Big Bear AI, and Near Crypto are all keeping a close eye on the Pi Cycle Top indicator to see if it will be able to identify the next high. With Web 3.0 coming soon, many are looking to the top 5 Web 3.0 crypto and top crypto websites to help them make the right decisions.

High street crypto and AI current are also keeping track of the Pi Cycle Top indicator to determine when the next high will be.

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