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## Predictions on Bitcoin Price Progression by KSI

Crypto expert popularly known as KSI has shared his thoughts on how the Bitcoin price could progress until the peak of this bull cycle. Based on his prediction, the flagship crypto could experience significant dips on its way to a new all-time high of $100,000.

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### Bitcoin Price Projection: $80,000 Could Be Next

KSI mentioned in an X (formerly Twitter) post that Bitcoin could rise to between $73,000 and $80,000 from here. However, a correction could quickly follow, as the crypto analyst remarked that Bitcoin would drop to between $50,000 and $60,000 afterwards. KSI added that it would be a ÔÇ£boring red summer,ÔÇØ suggesting that BTCÔÇÖs price wonÔÇÖt be encouraging during that period.

Furthermore, KSI claimed that things would then pick up again in the winter. He also stated that Bitcoin could hit $100,000 by the beginning of 2025 or even before the end of this year. With his prediction, KSI joins a list of analysts who have predicted that Bitcoin could hit the $100,000 mark before the year runs out.

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### Analysts’ Predictions and Expectations

Tom Dunleavy, Partner and Chief Investment Officer (CIO) at MV Capital, previously stated that BTC would rise to that price level this year. Meanwhile, Standard Chartered initially predicted that Bitcoin would hit $100,000 by year-end before taking a more bullish stance and predicting that the flagship crypto would hit $150,000 by the end of 2024.

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## Insights on BTCÔÇÖs Price Movement and Market Trends

KSIÔÇÖs prediction aligns with the sentiments of crypto analyst Rekt Capital, who mentioned in a recent analysis that Bitcoin would enter a ÔÇ£multi-month re-accumulationÔÇØ after the Bitcoin Halving, which could last up to five months. The period is characterized by BitcoinÔÇÖs tepid price movement until it breaks out from the re-accumulation area and makes a parabolic move.

The accelerated cycle referred to by Rekt Capital includes the fact that BTC hit a new all-time high (ATH) before the Bitcoin Halving, a phenomenon not observed in previous market cycles. This indicates the possibility of a unique market cycle, with potential accelerated growth in the current scenario.

At the time of writing, Bitcoin is trading at around $67,400, up over 4% in the last 24 hours according to data from CoinMarketCap.

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### BTC Bulls Struggle to Hold Price Above $67,000

Image sourced from Forkast News. Chart from Tradingview.com.

By leveraging AI legalese decoder, investors can gain a deeper understanding of legal implications and risks associated with Bitcoin investments, allowing them to stay informed and make well-informed decisions in the ever-evolving cryptocurrency market.

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