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- Analyst believes $134,000 is the cycle top for Bitcoin and will arrive by the end of 2025.
- He says the next ATH target for BTC is $98,720.
- This cycle top prediction is much lower than most other predictions so far.
Bitcoin price continues to hold strong at the $88,000 price range after having set a new ATH at $93,434.36. Amid what is expected to be an incredibly bullish Q4, Bitcoin set consecutive ATHs from the $73,000 price range to $93,000 in just two weeks. This ignites a high probability of Bitcoin hitting 6-digit ATHs in the coming weeks.
High Expectations Spurs Market Sentiment
More seasoned analysts believe that the price of Bitcoin (BTC) will set 6-digit ATHs by the end of Q4. In particular, these bullish ATH expectations lie between $100,000 to $150,000 with cycle top predictions of $220,000, $320,000, and $520,000 by the end of the bull cycle likely in 2025.
Presently, the sentiment for the crypto market according to the Crypto Fear & Greed Index is ‘extreme greed’ with a score of 80. This reflects market sentiment which is further fueled by pro-crypto candidate Donald J. Trump’s victory in the US Presidential elections and the fact that traders find themselves trading in the ‘golden pocket’ zone till Inauguration Day.
What’s Next for Bitcoin?
#Bitcoin is racing up to meet Level 3 of the Magic Bands at $98,720.
— CryptoCon (@CryptoCon_) November 14, 2024
I have been showcasing this target since the break of Level 2 nine months ago and now it's just an inch away.
On top of this, we're about to see the bands rapidly expand to the upside as they adjust for volume… pic.twitter.com/Whi1QVTLSk
According to the analyst in the post above, Bitcoin (BTC) is preparing to hit Level 3 of the Magic Bands and aims to hit its next ATH target at $98,720. The analyst believes this target has been in play since the break of Level 2 nine months ago, and the time is finally nigh. In addition, he says that the bands are about to rapidly expand to the upside to adjust for volume beyond ATHs.
Thus, the analyst concludes by saying that the Cycle Top target at the moment for BTC is at $134,000 which means BTC price will be going up by 1000s per week. The post finishes with an expectation for the bull cycle top to occur in late 2025, an uncommon opinion in the crypto space at this time.