Bitcoin

Analyst Who Called Last BTC Bottom Says “Bitcoin Bull Run Has Officially Begun”, Sets $50k Target and Timeline

Captain Faibik (@CryptoFaibik), a prominent analyst on X, has created a buzz among Bitcoin enthusiasts and investors with his recent Bitcoin prediction. Currently trading at $36,669, BTC is up about 4% in the past day and 4% in the past month, according to CoinMarketCap.

With this positive trend, many in the market are looking for insight into the future of the flagship crypto, bringing more attention to Captain Faibik’s predictions and insights.

A Rollercoaster Ride for Bitcoin Investors

Captain Faibik begins his post by congratulating investors who bought and held Bitcoin during the panic phase of the crypto market.

He recalls his predictions from November to December 2022, when he foresaw Bitcoin’s bottom at $16,000. While many were panic selling, Captain Faibik repeatedly urged buying, a move that has paid off handsomely for those who listened and acted.

Captain Faibik questions the rationale of some investors waiting for the Bitcoin (BTC) price to drop below $20,000. He said even when BTC ranged between $18,000 and $24,000 for the past 10 months, they failed to buy, while some investors offloaded their holdings due to lack of patience.

Bitcoin’s Current Trajectory

According to Captain Faibik, the Bitcoin train has already left the station, and he anticipates that by the end of November, Bitcoin could test the $38,000 to $39,000 price range. This prediction suggests a continuation of the bullish trend that has captured the attention of seasoned investors and newcomers in the crypto market.

While Captain Faibik is optimistic about Bitcoin’s short-term prospects, he also emphasizes the importance of corrections. He views these periods of price adjustment as healthy for sustaining an uptrend. December and January may see such corrections, providing opportunities for traders and investors to enter the market at more favorable price points.

Bitcoin Halving Rally: Path to $50,000 and Timeline

Looking ahead, Captain Faibik predicts that the Bitcoin halving rally will commence in mid-January. With the Bitcoin halving coming in April 2024, the building anticipation could start a rally that could rapidly increase once the halving occurs.

By late March, Captain Faibik believes that Bitcoin could reach $50,000, further fueling the excitement in the cryptocurrency community.

With the Bitcoin bull run already going, one of the top trading platforms in the crypto market has predicted a timeline for Bitcoin to reach $125,000, and the next halving could play a major role in this rise.

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Tobi Loba

Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.