Emily Walker
A cryptocurrency analyst has shared an optimistic forecast for Bitcoin (BTC), outlining the expected profit target for investors by 2025. The report details a specific price point and timeline for the anticipated peak in Bitcoin’s value, urging investors and traders to act quickly and sell their holdings once Bitcoin reaches this height, as a downturn may soon follow.
Timing Your Bitcoin Sell
Bitcoin is approaching the culmination of its long-term bullish trend, with the analyst Xanrox on TradingView forecasting the peak price and timeline for an upcoming bear market. The analyst’s insights stem from utilizing the Elliott Wave Theory and Fibonacci extension models.
Currently valued above $94,000, Bitcoin is projected to reach between $115,000 and $125,000 by 2025. The analyst’s chart suggests a five-wave pattern in Bitcoin’s current cycle, with Wave 5 already in motion, expected to reach high resistance points.
Xanrox’s analysis shows that Bitcoin’s price has historically followed an upward trendline from 2017 to 2021, which is soon expected to interact with its current price. This trendline, designated as a resistance point, is an important sell signal, and investors should pay close attention to it as Bitcoin approaches this pivotal moment. Once Bitcoin touches this long-term trendline, the analyst recommends it will be a good time to sell and exit the market.
Moreover, Xanrox pointed to the 1.618 Fibonacci extension at $122,068 as a significant resistance level for Bitcoin. While he anticipates a price peak between $110,000 and $125,000 by 2025, he recognizes that other analysts might project even higher and less feasible price targets for Bitcoin.
He elaborated that expectations of Bitcoin reaching $200,000 or $300,000 by 2025 seem unrealistic, largely due to the cryptocurrency’s already significant market cap, which presents challenges for such ambitious forecasts. Xanrox’s projection is based on long-term analysis confirmed by the convergence of the ascending trendline and Fibonacci levels.
In his short-term outlook, the analyst predicts Bitcoin might spike to $125,000, although he foresees this surge occurring after a substantial drop to around $85,000.
Forecast for Bitcoin Bear Market
After reaching the forecasted high between $115,000 and $125,000, Xanrox predicts that Bitcoin will enter a drawn-out bear market, concluding its bullish phase. According to the Elliott Wave Theory, the previous Wave 4 acted as a liquidity zone and critical support around $49,000.
Following this pattern, Xanrox anticipates Bitcoin may retrace to this bearish zone, potentially establishing support between $50,000 and $60,000 during the bear market. This level could present an opportunity for whales and investors to accumulate. He forecasts that this bear market will likely unfold between 2025 and 2026.
Featured image from Pexels, chart from TradingView