This week, the price of Bitcoin has made a significant bounce back and surpassed $100,000 once more, fueled by renewed optimism and investment. This surge in value has sparked another round of bullish feelings across the cryptocurrency market. Notably, Bitcoin had been predominantly hovering around this price point for the past two months, with bullish investors making repeated attempts to push it above that level significantly while also defending against a fall below $90,000.
Looking ahead, it’s possible that the price of Bitcoin could surpass $100,000 given its long-term outlook. Some experts predict prices as high as $200,000 or more, while a few even suggest $1 million. As per crypto analyst Xanrox, we might be in the final upward swing before Bitcoin reaches its cycle maximum, and a possible correction period could be imminent.
Road To Bitcoin Peak And Key Targets
Based on the analysis of a cryptocurrency expert, Bitcoin’s current bullish trend started in 2022 with its price at $15,632 and may reach its peak around $125,000 by 2025. Although this projected peak is relatively lower compared to other forecasts, it still represents a substantial profit for early investors. However, investors entering now should be aware of a potentially riskier market climate, considering the recent fluctuations in the market.
Xanrox estimates that a peak of $125,000 could occur based on Elliott Wave Theory, a method used to predict market trends by identifying patterns in five impulsive (motivated) and three corrective (corrected) waves. By counting the impulse waves from the 2022 bear market low, they suggest that the start of the fifth wave is expected towards the end of Q4 2024. This marks the final impulse wave before a phase of ABC correction.
To estimate the potential high point of Bitcoin price by 2025, two technical assessment methods were employed: the long-term trendline and the Fibonacci extension. The trendline, connecting past significant peaks at $20,000 in 2017 and $65,000 in 2021, suggests that Bitcoin could climb to approximately $122,069 by 2025, where it may encounter resistance. Moreover, the 1.618 Fibonacci extension from the bottom of the 2022 bear market lines up precisely with this projected peak price.
What Comes After Bitcoin Price Reaches Its Peak?
After reaching $125,000, the analyst predicts that Bitcoin will undergo a substantial decline following its peak, similar to what happened after the price surges in 2017 and 2021. This predicted drop is based on Elliot wave ABC corrections, which caused a 84% decrease in 2018 and a 77% drop in 2021.
Despite the fact that significant decreases are less probable because of Bitcoin’s expanding market value and growing institutional backing, it’s important to consider that a 60% reduction remains possible. This potential drop is expected to occur during a major bear market and crisis sometime between late 2025 and 2026. If the price reaches $125,000 in 2025, a 60% decrease might lower the Bitcoin price to around $50,000 by 2026.
At the time of writing, Bitcoin is trading at $103,190 and is up by 9.7% in the past 24 hours.
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2025-01-19 07:11