Bitcoin Analyst Predicts Significant Price Correction Before Hitting $130K in 2025
A well-known crypto analyst, CryptoCon, recently shared his insights on Bitcoin’s future price movements. He believes that Bitcoin has already reached its peak at around $45,000 and is now poised for a significant pullback. According to CryptoCon, the LMACD crossing below the Descending Cycle Mid-Top Trend indicates a potential correction ranging between 38% and 52% from its recent high.
Bitcoin Price Pullback
In simpler terms, CryptoCon predicts that Bitcoin could experience a correction of 38% to 52%, resulting in a bottom price range of $26,000 to $21,500. This correction presents an opportunity for investors who missed out on favorable entry points during the “Green Year Accumulation” phase to enter the market at more accessible prices. However, it’s important to note that this correction could also lead to a shakeout of overleveraged long positions.
CryptoCon also anticipates that this correction will be followed by a sideways period lasting about 5 to 6 months. However, he believes that these declines will come to a halt in May 2024 and an upward trajectory will resume.
Bitcoin To Hit $130,000 In 2025
CryptoCon is optimistic about Bitcoin’s future performance. He expects Bitcoin to reach a new all-time high in late 2025. According to him, based on the Halving Cycles Theory, the next true cycle top should occur around November-December 2025. Taking into account crucial price experiments, CryptoCon predicts that Bitcoin will hit an ATH of $130,000 by the end of 2025.
However, it’s worth mentioning that at the time of writing, Bitcoin’s price was in decline, trading at $42,709.14. The BTC market cap stood at $836.59 billion, with a 24-hour trade volume of $27.53 billion.
Over the past month, Bitcoin has experienced significant gains, reaching around $45,000. However, it has since faced several bearish sessions, aligning with CryptoCon’s prediction.
Hot Take: Bitcoin Faces Significant Correction Before a Promising Future
Crypto analyst CryptoCon believes that Bitcoin is on the brink of a notable correction ranging between 38% and 52% from its recent high. This correction presents an opportunity for investors to enter the market at more accessible prices. However, it may also result in a shakeout of overleveraged long positions. Despite the current decline, CryptoCon predicts that Bitcoin will hit a new all-time high of $130,000 by the end of 2025. While short-term corrections are expected, Bitcoin’s long-term future remains promising.
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