Notably, BTC has been moving between $55,000 – $70,000 over the last seven months which represents a state of consolidation. According to Crypto Rover, following a breakout from this current sideways movement, Bitcoin is likely to enter the "banana zone” i.e.the phase of outrageous price growth, as seen in previous bull cycles. The crypto analyst predicts that during this period which traditionally lasts for 12-18 months, BTC could trade as high as $290,000 representing a 339.39% gain on the asset’s current price.
These sentiments on a price breakout are further strengthened by the upcoming Q4 which has proven to be the most bullish period for Bitcoin with an average gain of 88% over the last 11 years. Related Reading: MicroStrategy’s Bitcoin Bet Pays Off In Multiple Ways As Stock Surges 317% Bitcoin Exchange Stablecoins Ratio Shows Bullish Signal In more positive news for the Bitcoin community, the Bitcoin Exchange Stablecoin Ratio is currently indicating a buy signal.
Related Reading: Here’s Who Has Been Driving The Bitcoin Price Recovery Above $65,000 BTC In Consolidation As It Gathers Momentum For Breakout In an X post on Friday, popular analyst Crypto Rover predicted BTC will hit a $290,000 price mark in the upcoming bull run.
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