The Elliot Wave theory is a popular tool for predicting Bitcoin’s price movements. One analyst, XForceGlobal, has used this theory to forecast what could happen next for Bitcoin.
A Bullish Run, Then a Big Dip?
XForceGlobal’s analysis suggests that Bitcoin is currently in the middle of a bullish wave, called Wave 3. This wave is expected to push the price higher, potentially reaching $126,000.
However, the analyst warns that this wave could be followed by a sharp correction, called Wave 4. This could see Bitcoin’s price plummet to as low as $39,728, a massive drop of over 60% from the peak.
A Recovery Could Follow the Crash
After the potential crash, the analyst expects a final bullish wave, Wave 5, which could push Bitcoin to a new high of around $153,000.
Don’t Get Carried Away
While the analyst’s predictions are based on the Elliot Wave theory, they emphasize that no theory can predict the market with absolute certainty. They advise investors to stay informed and be prepared for unexpected market movements.
