Bitcoin’s price has been a rollercoaster lately. While it briefly topped $100,000, it hasn’t been able to stay there consistently, recently dipping below $91,000. But don’t count Bitcoin out just yet!
A Bullish Outlook Based on Elliott Waves
One analyst on TradingView sees a very bullish future for Bitcoin, using the Elliott Wave theory to predict its price movements. This theory tracks market cycles based on repeated patterns of investor behavior. According to this analyst, Bitcoin’s price action perfectly aligns with a bullish Elliott Wave structure.
The analyst points out that Bitcoin has likely completed wave 4 (a corrective move), setting the stage for wave 5 – a final, powerful upward surge. This final push, they believe, will send Bitcoin to a new all-time high.
Price Predictions: $180,000 and Beyond
Specifically, the analyst predicts Bitcoin will hit $187,000 during this final wave. Their chart suggests this could happen by the end of March 2025. That’s a roughly 85% increase from the current price!
But the good news doesn’t stop there. The analyst also sees a larger “cup and handle” pattern forming, suggesting an even bigger rally could be on the horizon, potentially pushing Bitcoin to $307,000 around October 2025.
The $100,000 Hurdle
The biggest immediate obstacle? Breaking decisively above $100,000. How quickly Bitcoin surpasses this psychological barrier will largely determine how fast it reaches these ambitious price targets. The analyst’s predictions are based on the current market cycle and the Elliott Wave structure, but remember, these are predictions, not guarantees.
