Bitcoin ‘Terminal Price’ hints next BTC all-time high is at least $110K

Bitcoin (BTC) might next be a “sell” at least $110,000 as its brand-new bull cycle plays out, a timeless on-chain indicator suggests.Data from on-chain analytics platform Look Into Bitcoin reveals Bitcoins Terminal Price meaning a possible six-figure BTC rate top.BTC rate to six figures next cycle?As BTC cost action circles its highest levels in 18 months, forecasters are already considering how high it might go in the coming months and even years.After the next block subsidy halving in April 2024, targets include $130,000, with late 2025 a popular deadline for the next cycle top.Analyzing Terminal Price, Look Into Bitcoin creator Philip Swift explained its value as a “simple” approach of approximating long-lasting BTC cost peaks.Terminal Price is determined from Bitcoins so-called Transferred Price– a value obtained by dividing Coin Days Destroyed (CDD) by the existing supply.CDD is a popular metric which measures how numerous inactive days are reset each time an amount of BTC moves on-chain. It is beneficial as a gauge of hodler intent and activity.Bitcoin Terminal Price and Balanced Price chart. Source: Look Into BitcoinCreated by Checkmate, lead on-chain expert at information firm Glassnode, Terminal Price enters into play at the top of each BTC cost cycle.Not every all-time high reaches Terminal Price, however BTC/USD did hit the trendline during its 2017 all-time and preliminary peak in April 2021. The present all-time high of $69,000, seen in November that year, fell short.Swift hence suggested that selling “near” Terminal Price would be an appropriate policy. Its bear market counterpart, Balanced Price, likewise signals useful market bottoms.Buy near Balanced Price, sell near Terminal Price.Could it be that basic? #bitcoin cycles. pic.twitter.com/llHytNVuxr— Philip Swift (@PositiveCrypto) November 10, 2023

“The Pi Cycle Top indicator caught so lots of off-guard last cycle, including myself, by completely determining the top … again! Swift queried.Bitcoin Pi Cycle Top annotated chart. Source: Philip Swift/XThis article does not consist of investment recommendations or suggestions.