After the 2024 Bitcoin Halving, AI Predicts $130K Price Target
According to CryptoCon, a popular trader and analyst, Bitcoin (BTC) is likely to reach $128,000 or more by the end of 2025, as suggested by multiple analytics models. On Oct. 17, he uploaded his latest BTC price estimates to X (formerly Twitter) and estimated a two-year target of around $130,000. The crypto world is abuzz…
According to CryptoCon, a popular trader and analyst, Bitcoin (BTC) is likely to reach $128,000 or more by the end of 2025, as suggested by multiple analytics models. On Oct. 17, he uploaded his latest BTC price estimates to X (formerly Twitter) and estimated a two-year target of around $130,000.
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Multiple BTC price forecasts converge on $130,000 in 2025
The crypto market is debating how Bitcoin’s price will be affected by the halving of the block subsidy in 2021, but CryptoCon is confident that the long-term forecast is bullish.
In a recent analysis of Bitcoin price cycles and their highs and lows, the analyst mentioned that the area around $130,000 is becoming a strong point. “I’ve been doing a lot of Bitcoin cycle top experiments lately, and I keep seeing right around the same price… 130k,” he summarized.
The chart showed the “early” tops of each price cycle, as well as the new all-time highs that occur three weeks on either side of Nov. 28. CryptoCon noted that the timing for these events is determined by drawing diagonal trendlines from the first early top.
The trend from the last cycle gives a price of approximately 138k, according to the analyst. Therefore, the next cycle top is expected to take place in 2025, at a price almost double the current record.
“History favors the bears”
Four-year halving cycles have become a major point of reference for many renowned Bitcoin market commentators, such as Rekt Capital. He has previously suggested that the $32,000 highs seen earlier this year could result in a double-top structure, potentially leading to a prolonged BTC price downturn.
In his latest X post, Rekt Capital noted that in the 180 days before the halving in 2015/2016 and 2019, BTC retraced by -25% and -38% respectively. He added that any new crypto.com twitter lows should be seen as an opportunity to re-accumulate.
Despite the potential for a bearish market, Rekt Capital believes that the prehalving year of 2023 could still bring about some new local lows before the bull market regains its full strength.