The price of Bitcoin dropped by 0.93% on the last trading day, after it suffered another price decline in the previous week. $110,000 range. Bitcoin’s latest price drop forces it to keep up a tightening movement, which is what dominated last month and fueled speculations of a market peak. Ted Pillows is a well-known market analyst who has added his voice to this debate. According to him, historical data indicates that Bitcoin’s price will not reach its highest point in the current cycle.
Bitcoin’s consolidation: a preparation for the final bull leg
Then, you can also find out more about the following: X post Ted Pillows shared a bullish insight on the market following another Bitcoin dip. The premier cryptocurrency appeared to be on track for a market recovery after an important price rise from $99,000 at the end of June, following several weeks of declining consolidation. Another rejection at $110,000 shows that Bitcoin is still stuck in a range, causing concern among investors.
Pillows, in interpreting the situation has called for calm and stated that recent price drops are merely a “leverage flush” There is no need to panic. The renowned analyst demonstrates, using a visual analysis of the BTC Weekly Chart, that both the recent and past price drops are part a pattern which has been repeated in previous Bitcoin cycles.
After each halving, Bitcoin tends a peak around 18 months (518 day) later. The most recent halving occurred in mid-April 2024. This cycle’s peak is expected to occur around October 13th, 2025.
The chart also shows a 140-day rallying window that is recurrent, and usually forms the final leg in a bull market. Each previous cycle saw this stretch of 10 bars produce parabolic prices. The history repeats itself, and Bitcoin could be about to start this bull run of 10 weeks. This would suggest that the previous rally may soon begin.
What is the maximum price of Bitcoin?
Pillows’ recent analysis suggests that Bitcoin is gaining momentum towards its final market rally. Although the extent of the anticipated upward trend is unknown, there are several bullish indicators that support a wide range of targets. These include the large influx of institutional investments and US crypto policies.
Pillows are a good example. previously The popular Stock-to-Flow model that uses Bitcoin scarcity in order to forecast long-term trajectory of price has projected a price target as high as $368,925 for 2025. This prediction is a potential 242% increase in Bitcoin prices from the current market price.
Bitcoin was trading at $108,299 as of press time. This represents a 0.83 % gain over the previous week.
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Source: www.newsbtc.com
