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Although bitcoin is having a tough time this week, with prices <a target="_blank" href="https://www.bitstamp.net/markets/btc/usd/” target=”_blank” rel=”nofollow”>ranging between $93 thousand and $96 thousandAt least one popular crypto commentator predicts a massive price surge soon.
According to Ted Boydston, the market should prepare for a frenetic bull run in the coming days, with the price of bitcoin targeting $225,000.
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Boydston highlights the M2 price oscillator, which provides real-time buy and sell signals for traders and investors. He then explained that the tool recently showed a buy signal. And if history repeats itself, Boydston expects bitcoin to start rising in price, benefiting holders and investors.
bitcoin and its M2 price oscillator chart
Boydston, a popular crypto engineer and commentator, offers a fascinating insight into bitcoin's recent price action. Although the price of bitcoin has fallen recently, it sees a possible price increase soon.
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With the exception of the 2016 bitcoin cycle, a price oscillator on M2 has provided timely buy and sell signals.
The oscillator recently showed a buy. If history rhymes, this means that money printing and bitcoin's manic phase should begin soon. pic.twitter.com/61RpHYudIw
—Ted Boydston (@tboydsto) <a target="_blank" href="https://twitter.com/tboydsto/status/1872948358496829596?ref_src=twsrc%5Etfw” rel=”nofollow”>December 28, 2024
Boydston posted a chart of the M2 price oscillator on twitter/x, indicating a buy signal. Since the M2 money stock considers the circulation of liquid cash, including demand deposits, physical cash (M1), money markets and savings, the chart provides an interesting perspective on the possible direction of an asset.
As such, this technical chart and indicator offer useful information on the possible performance of assets, including those in the cryptocurrency niche.
A bitcoin Bull Run Soon?
Readers can find the oscillator taken from M2's PPO in the bottom panel via a shared screenshot. The chart was showing red for 2023 and most of 2024, but shows a green or potential buy signal as the year is about to close.
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bitcoin M2 Price Oscillator Shows a BUY Signal!
With the exception of the 2016 bitcoin cycle, this indicator has incredible accuracy.
If history repeats itself, this could signal the start of money printing and another major btc pump.
Ignore it at your own risk! pic.twitter.com/zsepPXjLH0
– BitcoinHyper (@BitcoinHypers) <a target="_blank" href="https://twitter.com/BitcoinHypers/status/1872972331888570524?ref_src=twsrc%5Etfw” rel=”nofollow”>December 28, 2024
Boydston maintains that a signal like this often leads to an increase in the price of the asset and eventually paves the way for a bull run.
Investors can expect increased volatility and price appreciation for bitcoin if this scenario plays out. Traders and investors have relied on this technical analysis for years, offering correct predictions, except in 2016. The chart did not show the buy signal at that time, but the price rose after the bitcoin halving event.
Future bitcoin Price Action
crypto analysts targeted the $100,000 mark for bitcoin a few months ago. Now that this was achieved in December, many analysts are setting their sights on new goals. Some analysts claim bitcoin's short-term target is $150,000, while others speculate the asset could reach<a target="_blank" href="https://www.financemagnates.com/cryptocurrency/will-bitcoin-hit-1-million-btc-price-prediction-for-2025/” target=”_blank” rel=”nofollow”> $1 million.
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With many estimates, Boydston's prediction of $225,000 may seem the most logical and possible. For Boydston, in a manic phase of the bitcoin bull run, a top forms, aligning with a 0.382 Fibonacci retracement level.
Featured image from Getty Images, chart from TradingView
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