- Reputed crypto analyst reaffirms expectations for a higher ATH.
- This analyst believes a higher BTC cycle top price could arrive.
- He expects $150,000 BTC ATH price to be higher before a bear market can begin.
Bearish sentiments have taken over the crypto market and the majority are expecting the price of BTC to hit $100,000 before dipping to 5-digit prices soon. While expectations for altseason and for altcoins to hit new ATH prices are still being debated, one analyst believes it is not over yet for the bull market. In detail, one reputed crypto analyst reaffirms expectationf for a higher BTC cycle top at $150,000 and above.
Reputed Crypto Analyst Reaffirms Expectations for a higher BTC Cycle Top Price
Ever since the $20 liquidation event earlier this month, analysts have grown more bearish, which was surprising for other analyst who say the mass leverage and long trade positions being wiped out as a bullish resetting for the crypto bull cycle. Meanwhile, those who tracked the 4-year bull cycle pattern believe the bull market has reached its end with a silent bull cycle top and no euphoric pump stage or altseason this cycle.
Contrary tp this, other analysts believe that the 4-year bull cycle model has gone obsolete and will no longer be the norm. This would mean that the major reason behind the bull pump coming to an end is no longer reliable. If so, the crypto market still has a lot of potential to see new highs, both for BTC and altcoins, especially considering the many bullish patterns that are still prevalent in the space.
In line with this, the nlayst in the post above reaffirms his assertion that the bull cycle top for the cycle is not yet in and that the price of Bitcoin (BTC) will hit $150,000 and above as its top before the cycle comes to a close. The analyst then goes on to share 4 key takeaways for his reasoning behind the expectation of one more final BTC price pump before the bearish turn takes over.
Firstly, the analyst states that the rate of ascent should increase at an increasing rate into the final 5th subwave which will mark the cycle’s blow off top. This would imply that all impulses moving forward will be more aggressive than the ones prior, secondly, the cycle is currently in subwave 2 of the final 5th wave after completing the impulsive subwave 1 which took BTC price from $74,000 to $112,000, leading to the possibility ofs ubwave 2 bottoming between the current price and $74,000.
This Could Take BTC to $150,000 and AboveFinally, the analyst says that the measured move of BTC’s 1st subwave was $37,500. A fair assumption is that the 3rd and 5th waves will be even larger, which implies a minimum target of $150,00 for BTC by the end of the cycle. Lastly, he mentions that the time is not drawn to scale for this, however, he believes that knowing the rate of ascent should only increase from this point onwards, which would mark that time is of no concern. He concludes by saying that the longer the pump will take to begin, the more aggressive the pump will be.