After significant price retractions, the cryptocurrency market has initiated a significant recovery this weekend. The price of Bitcoin, which dropped below $54,000 last week, is currently attempting to stabilize above $57,000. However, a rather optimistic analysis has revealed a scenario of impressive price increases that could be on the horizon for Bitcoin.
In a technical analysis shared on July 7th, the analyst known as apsk32 on the social media platform X suggested that Bitcoin could experience a bullish trajectory aiming to reach an impressive $225,000 in the coming months. This prediction is based on an analysis of Bitcoin’s historical movements and its alignment with a power law support model. The analyst highlighted Bitcoin’s cycles and their respective peaks in 2013 and 2017, as well as a double peak that occurred in 2021.
According to the analysis, if Bitcoin is able to follow its observed patterns in previous cycles, the asset could be five years ahead of the power law support by October 2025, and as a result, the price of the largest cryptocurrency would be propelled to reach approximately $255,000.
“If bitcoin is 5 years ahead of the power law support on 1 Oct 2025 then it will be worth $255,000. I chose that date based on previous cycle timings. I use this plot to visualize the cycles and to see if it looks like the pattern is changing. If the 4-year price cycles continue, the next cycle peak will be at the end of 2025. During previous cycle peaks, the price was approximately 5 years ahead of the power law support. The double peak in 2021 and the acceleration in 2024 suggest that this time may be different. However, we have heard this every time and so far the pattern remains,” emphasized the analyst.
At the time of publication, the price of Bitcoin was quoted at $56,980.35 with a 0.3% increase in the last 24 hours.
Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Editor’s Choice: Analysts predict a positive month for Bitcoin and Ethereum; Strong BTC and ETH recovery. SEC greenlights spot Bitcoin-Ethereum ETF; Details.
