BTC price models hint at $130K target after 2024 Bitcoin halving
Bitcoin (BTC) is destined to hit $128,000 or more by the end of 2025, multiple analytics models suggest.
Uploading his latest BTC price estimates to X (formerly Twitter) on Oct. 17, popular trader and analyst CryptoCon deduced a two-year target of around $130,000.
Bitcoin market participants are diverging over how BTC price behavior will respond to next year’s block subsidy halving, but for CryptoCon, the long-term roadmap is looking firmly bullish.
In an update for various models charting both Bitcoin price cycles and their highs and lows, the analyst reiterated that the area around $130,000 was fast becoming a magnet.
“I’ve been doing a lot of Bitcoin cycle top experiments lately, and I keep seeing right around the same price... 130k,” he summarized.
An accompanying chart highlighted so-called “early” tops in each price cycle, along with the actual cycle top constituting a new all-time high.
The early tops, on average, occur three weeks on either side of July 9, CryptoCon explained. The new all-time highs come three weeks on either side of Nov. 28 — already a popular phenomenon that Cointelegraph reported on last month.
The timing for these events comes from plotting simple diagonal trendlines from the first early top.
“Doing this has found the the price of the last two cycle tops exactly, and with our trend from last cycle, gives us a price of about 138k,” the X post continued.
Per model timing, 2025 should be the year that the next cycle top occurs, just under twice the current record set in 2021.
Four-year halving cycles, meanwhile, form a guide for many well-known Bitcoin market commentators.
Related: Mining BTC is harder than ever — 5 things to know in Bitcoin this week
Among them is popular trader and analyst Rekt
Read more on cointelegraph.com
