Follow a rather turbulent trading weekBitcoin’s price is now below $110,000. This represents a decline of 12% from the all-time record high, $124,457. Ted Pillows, a well-known analyst in the market has made an outrageous prediction which will hopefully calm fears that a cycle top is imminent.
The institutional demand for Bitcoin will extend the market cycle to 2026
A typical crypto cycle peaks in Q4 every fourth year. This coincides with a post-halving wave and retail market demand. In the two previous cycles, Bitcoin’s market reached $19700 in December 2017 and $69,000 by November 2021. Ted Pillows postulates This market may present with a new pattern which is in line with the US Business Cycle.
In general, US policy is heavily influenced by interest rates, inflation, and liquidity. The US Federal Reserve has implemented the first rate reduction of 2025 in September. Analysts expect that this approach will be maintained for the next 6 months. JP Morgan in particular predicts The Fed is expected to implement another two rate reductions in 2025, and one more in 2026. This drop in interest rates is expected to boost investors’ access to liquidity through borrowing and support investments in risk assets such as Bitcoin.
In addition, Bitcoin Spot-ETFs have also altered the nature of the flows. These investments, along with current cumulative ETF flows, have made it easier for institutions to invest in Bitcoin. valued at $57.23 billion. $57.23 billion.
Ted Pillows believes that if US market forces are dominant, Bitcoin will reach its market peak by Q1 2026 or Q2 2020, which indicates the possibility of higher price targets, despite recent drops in price.
Bitcoin Set to Hit $112,000 by 2020?
Bitcoin’s price has bounced off $109,000 in the past few hours. According to a separate analysis post By Pillows’, it is likely that the leading cryptocurrency will now reclaim its $112,000 price resistance level.
In the event that bulls succeed in overcoming this hurdle, further analyses suggest a possible rise of $117,000. Alternately, a second attempt to test $109,000 would result in an abrupt break under this level of support, sending prices down as low as $100,000. Bitcoin is currently trading at $109 420. This represents a drop of 0.25 % in the last day.
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Source: www.newsbtc.com
