Key points:
- Bitcoin is projected to reach $128,000 or more by the end of 2025, according to multiple analytics models.
- A popular trader and analyst, CryptoCon, anticipates a long-term target of about $130,000.
- Various models indicate a convergence on the $130,000 price level.
- The timing for the next cycle top is expected to be in 2025.
- Historical data suggests potential new local lows before the bull market gains full force.
Bitcoin (BTC) is projected to reach $128,000 or more by the end of 2025, according to multiple analytics models. A popular trader and analyst, CryptoCon, anticipates a two-year target of around $130,000. Bitcoin market participants have different views on how BTC price behavior will respond to the next year’s block subsidy halving, but for CryptoCon, the long-term outlook is bullish. In an update for various models charting Bitcoin price cycles and their highs and lows, the analyst emphasized that the $130,000 price level is becoming a magnet.
According to CryptoCon, early tops in each price cycle tend to occur around three weeks on either side of July 9. The new all-time highs typically occur three weeks on either side of November 28. By plotting simple diagonal trendlines from the first early top, the analyst found that the price of the last two cycle tops matched closely, resulting in a price projection of approximately $138,000.
Historically, four-year halving cycles have provided guidance for Bitcoin market commentators. Rekt Capital, a popular trader and analyst, highlighted that the prehalving year 2023 could bring about some new local lows before the bull market gains full force. However, any new lows should be seen as an opportunity for accumulation.
Note: This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
