Bitcoin Could Rally 418% to $288,000 in Next 18 Months

Bitcoin is poised for a significant rally, according to crypto researcher Danny Marques. Marques has been tracking Bitcoin's movement since 2017 and has identified a consistent pattern that suggests the cryptocurrency is entering the final and strongest part of its long-term cycle. This pattern, which has held strong for seven years, indicates that Bitcoin has been moving within a perfect rising channel, with each major low and peak touching the lower and upper edges of this channel, respectively.

Marques points out that Bitcoin's price has consistently broken above major highs in the past, leading to massive rallies. For instance, in 2017, a breakout above $1,200 led to a price of $20,000, and in 2020, a breakout above $20,000 led to a price of $69,000. According to Marques, the current breakout above $69,000 in 2024 could lead to a similar rally, potentially reaching around $288,000 if it follows the 2020 cycle's 418% jump.

Marques' analysis is supported by a chart that shows a "cup" pattern starting in 2021 and rounding out through the 2022 bear market, with a "handle" forming in early 2024 as Bitcoin briefly paused. This pattern points to a price target near $370,000, which aligns with other predictions. Additionally, technical indicators such as the monthly RSI and the TABI indicator suggest that Bitcoin still has room to run, with the RSI currently around 69, far from the 90–98 range seen at past tops.

According to the analyst's forecast, if history repeats itself, the next 12–18 months could see Bitcoin's price soar to as high as $370,000, marking the cryptocurrency's biggest rally yet. This prediction is based on the consistent pattern observed over the past seven years and the technical indicators that suggest Bitcoin is still early in its current cycle. However, it is important to note that this is a forecast and not a guarantee of future performance. Investors should conduct their own research and consider all factors before making any investment decisions.