Bitcoin’s been a bit wobbly lately, bouncing around $93,000-$96,000. But one crypto expert, engineer Ted Boydston, is predicting a massive price surge is coming soon – a price jump all the way to $225,000!
The M2 Oscillator: A Buy Signal?
Boydston’s prediction is based on something called the M2 price oscillator. This tool gives buy and sell signals for traders. Recently, it flashed a “buy” signal. And, according to Boydston, if history is any guide, this means we’re about to see a major Bitcoin price increase. He points to a chart showing this signal, noting its accuracy in predicting past price movements, except for one instance in 2016.
The M2 money stock looks at all the liquid cash sloshing around – checking accounts, physical cash, money markets, savings – giving a broader view of potential market movement. Boydston shared a chart on Twitter showing the M2 oscillator turning green (a buy signal) after being red for most of 2023 and 2024.
What Does This Mean for Bitcoin?
Boydston argues that this buy signal usually precedes a significant price jump, leading to a bull market. If he’s right, expect some serious volatility and a climb in Bitcoin’s price. This technical analysis has a pretty good track record, except for that one time in 2016 (when the price still went up after the Bitcoin halving).
Bitcoin’s Price: Where to Next?
Analysts have been throwing around various price targets for Bitcoin. Some are saying $150,000, others are even talking $1,000,000! Given all the different predictions, Boydston’s $225,000 target seems relatively reasonable. He suggests that during Bitcoin’s manic bull run phase, the price will peak at a point aligning with a specific Fibonacci retracement level (0.382). So, buckle up, Bitcoin enthusiasts!
