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Cryptographic analyst <a target="_blank" href="https://bitcoinist.com/bitcoin-top-analyst-stop-rally/” rel=”nofollow”>Tony Severino has established a similarity between bitcoin's current price action and that of the 2017 bull market. Based on these similarities, the analyst raised the possibility of the flagship cryptocurrency seeing an 80% rise from its current level.
bitcoin price foresees an 80% increase if history repeats itself
in a <a target="_blank" href="https://x.com/tonythebullBTC/status/1868724077072204073″ rel=”nofollow”>x publicationTony Severino suggested that the price of bitcoin could rise to $190,000 if history repeats itself. This came as the analyst made a comparison between the bitcoin Elliott Wave count of 2024 and 2017, which indicated that bitcoin could replicate the price movement from the running of the bulls 2017.
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The analyst's attached chart showed that the price of bitcoin <a target="_blank" href="https://bitcoinist.com/analyst-foresees-bitcoin-topping-out-at-190000/” rel=”nofollow”>could reach $190,000 in the fifth wave, with this price target marking the peak for the flagship cryptocurrency in this cycle. This rally to $190,000 would be similar to how bitcoin rose from $7,550 in the 2017 bull run to its market high of $19,000.
As for how this bitcoin price rally to $190,000 will happen, the chart showed that bitcoin could first pull back to around $104,000, then rise to around $123,000, followed by another <a target="_blank" href="https://bitcoinist.com/bitcoin-hourly-chart-signals-rebound-to-95k-96k-with-bullish-rsi-divergence-analyst-says/” rel=”nofollow”>price correction to $96,000. Once this price correction takes place, bitcoin will begin a new Elliott Wave count, which could eventually send its price to $190,000 in the impulsive Wave 5 move.
Meanwhile, bitcoin price is completing the recount of the wave, which began in late October, just before Donald Trump won the US presidential election. Since then, bitcoin has enjoyed bullish momentum and has continued to reach new highs. The flagship cryptocurrency recently surpassed $107,000 as optimism grows that Donald Trump's administration will create the <a target="_blank" href="https://bitcoinist.com/trump-bitcoin-reserve-day-1-strike-ceo/” rel=”nofollow”>bitcoin Strategic Reserve.
btc could reach $125,000 before the end of the year
Cryptographic analyst justin bennett predicted that the price of bitcoin could reach $125,000 before the end of the year. This came as the analyst stated that bitcoin is in “Full Santa” mode and shows no signs of slowing down. Bennett said it could be difficult to achieve setbacks until the end of the year.
The crypto analyst added that any potential pullback is unlikely, especially given speculation that bitcoin will become a US reserve asset under Donald Trump. In line with this, Bennett said he won't be surprised if the price of bitcoin hits $116,000 or <a target="_blank" href="https://bitcoinist.com/bitcoin-to-125000-by-2025-is-very-conservative/” rel=”nofollow”>even $125,000 for the end of December.
Cryptographic analyst Cryptocurrency titan claimed that the price of bitcoin continues to rise to the moon. The analyst predicted that the flagship cryptocurrency could rise as high as $158,000, although the accompanying chart suggested that would happen next year.
At the time of writing, bitcoin price is trading at around $106,559, up in the last 24 hours, according to <a target="_blank" href="https://coinmarketcap.com/currencies/bitcoin/” rel=”nofollow”>data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
