A popular crypto analyst, TechDev, is predicting a continued Bitcoin bull market for at least another 14 months. This prediction isn’t based on the usual four-year halving cycle, but rather on the broader business cycle.
Following the Business Cycle
TechDev argues that Bitcoin’s price movements closely mirror the ups and downs of the overall economy. Specifically, he points to times when the business cycle starts a new upward trend and the copper-to-gold ratio (a measure of investor risk appetite) hits a low point. These combined signals, he says, historically mark a turning point that coincides with the peak of Bitcoin bull markets. He summarizes his theory: Bitcoin’s price peaks when the business cycle peaks, and it shoots up when the cycle inflects (changes direction). He’s observed that Bitcoin’s strong upward trends (“ramps”) typically last about 14 months after this inflection point.
Price Predictions: Reaching for the Stars
Based on Bitcoin’s recent chart patterns (specifically, what’s called a “cup and handle” formation suggesting continued upward movement), TechDev offers some bold price targets. He predicts a short-to-mid-term price of $170,000 and a long-term price of $380,000.
Currently, Bitcoin is trading around $118,110.
Disclaimer: This is just one analyst’s opinion. Investing in cryptocurrency is risky, and you could lose money. Do your own research before making any investment decisions.
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