Bitcoin macro top due in 2025 despite ‘confusing’ March all-time high
2024.08.21 06:21
Bitcoin (BTC) remains on track for a macro top in late 2025 as a popular analyst dismisses an early bear market.
In X analysis on Aug. 19, the pseudonymous CryptoCon doubled down on his timeline for new BTC price all-time highs.
Trader: “Best is yet to come” for BTC price cycle
Bitcoin’s latest record high in March was “confusing,” but it will soon be eclipsed by a return to price discovery.
For CryptoCon, the market is still on track for a bumper year in 2025 — one which will produce the next long-term peak in BTC/USD.
He justifies the forecast using his so-called “November 28th Cycles Theory,” which calls for key BTC price events to occur within three weeks either side of Nov. 28 at four-year intervals.
“Theory since I created it in January 2023, but the original model’s idea remains intact,” part of his commentary this week reads.
“Some people are calling for a Bitcoin top or a recession, but I think the best is still yet to come.”
The model’s latest chart puts August 2024 in line with the same month four, eight and even twelve years ago, with Bitcoin gearing up for the most intense phase of its bull market.
2024 is thus a blue “preparation” year, while 2025 should be red, which for this model corresponds to new all-time highs.
“The March 2024 local high has been confusing. It was more powerful than anything we’ve seen before. But this theory says that our Blue Year is preparation for Red Year, where we advance towards new ATHs which is just what we’ve done,” CryptoCon continues.
“It’s come earlier and stronger than usual, but price looks back on track to be centered around the date of the first Halving, November 28th, 2012.”
Bitcoin November 28th Cycles Theory chart. Source: CryptoCon/X
BTC price lacks trend “declaration”
As Cointelegraph continues to report, current short-term BTC price predictions contrast strongly with the optimism seen when BTC/USD circled $70,000 in recent months.
Related: How high can Bitcoin price go in the run-up to the US election?
Stuck in a descending channel, BTC price action lacks a clear trend, with demand among large-volume investors lacking and miners still recovering from the impact of April’s block subsidy halving.
“Weekly and daily graphs continue to form a megaphone or broadening triangle pattern in BTC,” popular trader Peter Brandt wrote in part of his latest analysis this week.
“No declaration of next trend yet $BTC.”
BTC/USD chart. Source: Peter Brandt/X
Talk of fresh all-time highs this year has also tailed off after successive predictions failed to come true.
For CryptoCon, the 2025 target is nonetheless close to $200,000.
“I look forward to selling as close to the top as possible but now is not that time. Higher prices coming with a top in late 2025,” he concluded.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
