The price of bitcoin has shown a notable recovery this week and is <a target="_blank" href="https://www.newsbtc.com/bitcoin-news/crypto-liquidations-320-bitcoin-reclaims-102000/” rel=”nofollow noopener” target=”_blank”>now back above $100,000 with confidence and renewed influx. This has sent a wave of another bullish sentiment into the cryptocurrency market, considering that bitcoin has spent most of the last two months around this level and bullish investors have been trying to break above it substantially while also <a target="_blank" href="https://www.newsbtc.com/bitcoin-news/bitcoin-struggles-under-pressure-drops-below-98000-as-treasury-yields-climb/” rel=”nofollow noopener” target=”_blank”>avoiding a break below $90,000.
Thinking from a long-term perspective, the price of bitcoin <a target="_blank" href="https://www.newsbtc.com/bitcoin-news/why-bitcoin-ongoing-recovery-could-be-just-the-beginning-of-a-larger-rally/” rel=”nofollow noopener” target=”_blank”>still has room to break above $100,000. Many analysts have <a target="_blank" href="https://www.newsbtc.com/bitcoin-news/bitcoin-may-target-145000-to-249000-under-trump-administration-report/” rel=”nofollow noopener” target=”_blank”>expected price spikes above $200,000and some predictions even reach a million dollars. According to crypto analyst Xanrox, bitcoin is currently on its latest bullish wave to reach its cycle peak and a correction phase could be near.
Road to bitcoin peak and key goals
According <a target="_blank" href="https://www.tradingview.com/chart/BTCUSD/kAtep6cu-bitcoin-Roadmap-2025-to-2026-Best-plan/” rel=”nofollow noopener” target=”_blank”>to the cryptanalystbitcoin's current bull cycle began in 2022, when it was trading at $15,632 and is likely to peak in 2025 at around $125,000. Although this expected price peak is very small <a target="_blank" href="https://www.newsbtc.com/breaking-news-ticker/bitcoin-breaks-out-of-cup-and-handle-pattern-eyes-276000-target/” rel=”nofollow noopener” target=”_blank”>compared to other predictionsIt is undoubtedly a good return for early investors. However, those entering at current levels face a riskier environment, especially given recent market behavior.
Xanrox's projection of a high of $125,000 is Rooted in Elliott wave theorya technical analysis framework that identifies market cycles through five impulsive waves and three ABC corrective waves. Counting impulse waves from the 2022 bear market low places the beginning of the fifth wave around Q4 2024, which is the last impulse wave before the ABC correction phase.
Two technical analysis tools were used to determine this bitcoin price peak, which are the long-term trend line and the Fibonacci extension. The trend line, which traverses previous peaks of $20,000 in 2017 and $65,000 in 2021, projects that bitcoin price could reach $122,069 in 2025 before encountering resistance. Furthermore, the 1.618 Fibonacci extension since the 2022 bear market low aligns exactly with this price target high.
What comes after bitcoin price peaks?
Keeping the focus on the price peak of $125,000, the analyst noted that bitcoin should see a sharp correction after peaking, as seen in the historical playouts after the 2017 and 2021 rallies. ABC of the Elliot wave, which caused falls of 84% and 77% in 2018 and 2021, respectively.
Although such declines are less likely due to bitcoin's growing market capitalization and increased institutional adoptionThe analyst noted that a 60% correction remains a plausible scenario. This recession is predicted to develop into a huge bear market and crisis between late 2025 and 2026. If the price reaches $125,000 in 2025, a 60% correction could see the price of bitcoin drop to $50,000 by 2026. .
At the time of writing, bitcoin is trading at $103,190 and is up 9.7% in the last 24 hours.
Featured image created with Dall.E, chart from Tradingview.com
