Bitcoin's Block Channel Signals Path to $400,000, Analyst Reveals
A leading cryptocurrency analyst, Gert Van Lagena, has ignited discussions across the market with a bold prediction: Bitcoin could soar to $400,000. His analysis, rooted in a long-term on-chain trend, suggests an impending and significant revival of the Bitcoin bull market, despite recent price corrections.
Decoding the Historical Trend
Van Lagena's forecast, shared recently on X, is based on Bitcoin's historical post-halving price movements. Utilizing a logarithmic chart that plots Bitcoin's price against its block height since 2009, the analyst highlights a consistent regression channel. Historically, Bitcoin has shown a pattern of pushing above the midline of this channel after each halving event, followed by an "orange spike" or "blow-off top" reaching the channel's upper boundary, as observed in bull runs of 2013, 2017, and 2021. Currently, Bitcoin is trading just below this regression channel's midline, implying substantial room for upward price movement. While Van Lagena notes an unusual pattern of three rejections at this midline, each followed by a bounce off the 0.382 Fibonacci retracement line, he remains confident that the 15-year historical trend will prevail.
The Anticipated Peak and Subsequent Correction
Should Bitcoin successfully break and maintain its position above the midline resistance, Van Lagena projects a price target between $350,000 and $400,000. This range aligns precisely with the upper boundary of the established regression channel. Crucially, the analyst clarifies that the often-feared "crypto winter" or bear market typically materializes only after Bitcoin achieves this upper boundary, marking a market top. Following this peak, he predicts a subsequent correction, with Bitcoin retesting the 210,000 block Simple Moving Average (SMA), which represents the lower trend line of the regression channel. Despite Bitcoin's recent 2.36% daily loss and a 21.96% devaluation over the past month, Van Lagena's insights offer a long-term bullish outlook for the premier cryptocurrency.
