The post Market Expert Predicts When Bitcoin Will Reach Its Top for This Cycle appeared on BitcoinEthereumNews.com.

A well-known market expert recently shared a comprehensive chart predicting when Bitcoin (BTC) might reach its peak price for this cycle.  Market analyst EGRAG suggests that the next price peak for BTC could occur in mid to late 2025. Interestingly, he based this projection on an analysis of four Bitcoin cycles and Fibonacci retracement levels to gauge how BTC has behaved after breaking major resistance levels. Bitcoin Cycle Analysis  Notably, data from the chart shows that the first cycle took place between 2011 and 2013. EGRAG identified that after Bitcoin closed one full-body candle above the Fibonacci 1 level, it took 245 days (8 monthly bars) for BTC to reach its cycle top.  For context, this cycle duration marked the beginning of a recognizable pattern for Bitcoin’s long-term price behavior, with a top around $1,242. BTC reached this peak price in November 2013. Bitcoin 1M Chart | EGRAG Crypto The second cycle hinges on Bitcoin’s movement between 2013 and 2017. After the same full-body candle closed above Fibonacci 1, Bitcoin reached its top after 214 days (7 monthly bars). BTC hit a top of $19,785 in December 2017. https://x.com/thecryptobasic In Cycle 3, EGRAG identified November 2021 as the month for cycle top, which took 335 days (or 11 monthly bars) to materialize. Some analysts consider April 2021 as the peak, but EGRAG’s chart shows that Bitcoin’s highest point occurred in late 2021, topping at $68,997.  Prediction for Current Bitcoin Cycle Leveraging this historical data, EGRAG predicts two potential timelines for Bitcoin to reach its next cycle top. He calculates that the average duration from a full-body candle close above Fibonacci 1 to the cycle top is 265 days. Using this average, EGRAG predicts that Bitcoin could top out around June 2025. Alternatively, when considering the longest cycle—Cycle 3, which took…

---

Filed under: News - @ October 25, 2024 7:21 pm