Bitcoin Weekly Forecast: BTC struggles, but $80K is at striking distance

Bitcoin price trades below the 2021 high of $69,139 after a market sell-off post the approval of the Ethereum spot ETF. Based on historical data, an AI tool forecasts BTC could nearly triple in a year after the fourth halving. Invalidation of the ongoing bullish outlook will occur if BTC fails to hold $60,000. Bitcoin price is in a good position to resume the bull rally despite the recent struggle. Optimism will restart if BTC overcomes a critical hurdle and flips it into a foothold.

From the second to the third halving, it spiked from 294% to 540%, which doesn’t follow the same factor due to external influences like the Federal Reserve’s monetary policy.” Co-Pilot then found a turn-around. It calculated the average diminishing factor between the first and third halvings and used that to estimate the next performance.

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