Following significant price retractions, the cryptocurrency market has embarked on a noteworthy recovery this weekend. The price of Bitcoin, which had dropped below $54,000 last week, is currently making efforts to stabilize above $57,000. Nevertheless, a rather optimistic analysis has unveiled a scenario of impressive price surges that may lie ahead for Bitcoin.
In a technical analysis shared on July 7th, the analyst known by the pseudonym apsk32 on the social media platform X posited that Bitcoin could undergo an upward trajectory aiming for a remarkable $225,000 in the coming months. This prediction was based on an examination of Bitcoin’s historical movements, coupled with its alignment with a power law support model. The analyst highlighted Bitcoin’s cycles and their corresponding peaks in the years 2013 and 2017, in addition to a double peak that occurred in 2021.
According to the analysis, if Bitcoin manages to follow the patterns observed in previous cycles, the asset could be five years ahead of the power law support by October 2025, propelling the price of the leading cryptocurrency to approximately $255,000.
“If bitcoin is 5 years ahead of the power law support on October 1, 2025, then it will be valued at $255,000. I selected this date based on previous cycle durations. I employ this chart to visualize the cycles and determine if there are signs of a pattern shift. If the 4-year price cycles persist, the next cycle peak will be in late 2025. During the previous cycle peaks, the price was roughly 5 years ahead of the power law support. The double peak in 2021 and the acceleration in 2024 suggest that this time might be different. However, we have heard this before, and so far, the pattern remains,” the analyst emphasized.
At the time of writing, the Bitcoin price was hovering around $56,980.35, representing a 0.3% increase in the last 24 hours.
Disclaimer: The opinions and viewpoints expressed by the author or any individuals mentioned in this piece are intended for informational purposes only and do not constitute financial, investment, or other advice. Engaging in cryptocurrency investments or trading entails a risk of financial loss.
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