Renowned for his accurate predictions, crypto analyst CryptoCon recently shared his market assessment on his personal X account, discussing his views on the price of Bitcoin (BTC) for the upcoming years of 2024 and 2025. The analyst reiterated his belief that Bitcoin had reached a local peak of around $45,000 a few weeks ago and issued a warning about a potential decline.
Bitcoin Through the Analyst’s Lens
Anonymous crypto analyst CryptoCon continues to expect a downturn in Bitcoin. To support his claim, he emphasized that the LMACD has passed below the Falling Cycle Mid-Upper Trend Line, indicating a significant correction potential ranging between 38% and 52% in BTC’s price.
In simpler terms, CryptoCon evaluates that Bitcoin is on the verge of a notable pullback and believes the correction has potentially already started from the recent peak level of about $45,000. According to the analyst, BTC is expected to retract by 38% to 52% from this level, which corresponds to a price range between $26,000 and $21,500.
Continuing to present arguments to support his view, the analyst highlighted the opportunity presented at the green annual accumulation point on the shared chart for investors who missed suitable entry points. CryptoCon sees this potential correction as a chance for investors to enter the Bitcoin market at more accessible prices. However, a correction of 38% to 52% from recent highs could shake out over-leveraged long positions.
CryptoCon also predicts that the correction will result in a horizontal movement period lasting approximately 5 to 6 months. Although he expects a potential price correction, the analyst added that he ultimately anticipates an upward trend, expecting these declines to end by May 2024.
Bitcoin to Reach $130,000 by Late 2025
CryptoCon continued his assessment by emphasizing the positive aspects of Bitcoin’s future performance. The analyst stated that he expects Bitcoin to reach an all-time high during the November-December period of 2025:
According to the block reward halving cycles theory, a true cycle peak can be expected around +/- 21 days after November 28, 2025.
According to the analyst, the largest cryptocurrency will reach a new all-time high of $130,000 by the end of 2025, nearly doubling its previous record level of $69,000.
