Bitcoin Analyst Predicts $350,000-$400,000 Price Based on Historical Trends

The Bitcoin market is undergoing a significant price correction, with a recent 10% decline bringing its value as low as $80,800. Currently, Bitcoin is 32.79% below its all-time high, with investors favoring distribution over accumulation.

Bitcoin Post-Halving Movement and Bullish Potential

Analyst Gert Van Lagen predicts a potential bull market revival based on historical post-halving trends.
Van Lagen uses a long-term logarithmic chart highlighting Bitcoin's price movement within a regression channel since 2009.
Historically, Bitcoin rises above the regression channel's midline, leading to a peak at its upper boundary (observed in 2013, 2017, and 2021).
Currently, Bitcoin trades just below this midline but has faced rejections, bouncing off the 0.382 Fibonacci retracement line.
If Bitcoin surpasses the midline resistance, Van Lagen forecasts a rise to $350,000 - $400,000.

Current Market Conditions

Despite bearish sentiments, Van Lagen suggests the crypto winter starts after Bitcoin hits the upper boundary target.
A subsequent crash would test the 210,000 block SMA, aligning with the lower regression channel trend.
Bitcoin is valued at $84,300, experiencing a 21.96% devaluation over the past month, indicating volatility.

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