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Cryptographic analyzer Tony Severino It revealed that the bullish rise in Bitcoin prices could end as soon as January 2025. The analyst also expects Bitcoin to reach below $150,000 with the rally over by next month.
Bitcoin price could rise to less than $150,000 by January 2025
in Share XTony Severino reaffirmed his theory that Bitcoin’s price could top on January 20, 2025. He shared an accompanying chart showing that Bitcoin follows a textbook example of a “full” market cycle. The chart showed that Bitcoin could reach below $150,000 when it reaches the level Top of the market Next month.
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The chart shows that Bitcoin price is in the final phase of the impulse wave of this market cycle. Once this impulse wave is completed, perhaps in January 2025, the corrective wave will begin Market cycle It will start. This wave, which heralds a bear market, could last until mid-2027 and cause Bitcoin to fall to as low as $50,000.
Donald Trump’s pro-crypto moves may already be priced in
In detail Blog postTony Severino provided further insights into why the rise in Bitcoin prices peaked so early. He pointed this out Donald Trump wins In the US presidential election, it is the narrative that led to a massive market takeoff. Thanks to his pro-crypto stance, Bitcoin broke through the resistance level on the night his win was announced and has since risen to $100,000.
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However, Severino noted that Trump’s pro-crypto world is the new paradigm this time. He admitted that market participants cannot imagine a world in which the price of Bitcoin does not rise much, considering that the president-elect promised to create Bitcoin Strategic Reservewhich can create a lot of FOMO among other nation states.
However, the cryptocurrency analyst asked market participants to take into account the fact that the efficient market hypothesis states that the market looks to the future and prices in all information the moment it becomes available. Severino believes that Bitcoin could have already factored in Trump’s pro-crypto moves.
If so, he predicts that this “new paradigm” could create the perfect atmosphere of euphoria and cyclical climax when Trump finally takes office. In other words, Donald Trump’s inauguration It could mark the top of the rally in Bitcoin prices, and a corrective wave could begin once he takes office.
The last two new models became the tops of the cycle
Tony Severino alluded to what happened the last two times the term “new paradigm” was used regularly. According to him, these events have become periodic peaks for the Bitcoin price. First, he pointed out that when Cm futures When we were about to launch, many expected that the fact that institutions had exposure to Bitcoin would bring in a lot of capital.
However, this was not the case, as the bear market began instead. The same thing happened with Coinbase It went public, sparking optimism that the price of Bitcoin could easily reach $100,000. However, this was not the case, as this event marked the cyclical peak of the bullish rise in Bitcoin prices.
At the time of writing, Bitcoin is trading at around $99,200, down over the past 24 hours, according to Data From Coin Market Cap.
Featured image created with Dall.E, chart from Tradingview.com
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