With Bitcoin (BTC) soaring above the $60,000 mark, the Bitcoin market has demonstrated a robust performance despite several supply pressures. A majority of market interest is now focused on the potential for a new record high.
In a July 18 analysis shared by CryptoCon on X (formerly Twitter), Bitcoin’s traditional four-year price pattern is being examined for a potential shift. The analysis employs halving cycles theory and Fibonacci time zones to identify key levels hinting at a possible change in the asset’s cyclical behavior.
Bitcoin price analysis chart. Source: TradingView / CryptoCon
According to CryptoCon, these deviations suggest evolving price behavior for Bitcoin. The March 2024 high was the first deviation, achieving new all-time highs about a year earlier than usual.
The second early top in June 2024 ended up at a lower high compared to the March peak. Despite these differences, the analysis suggests that the overall cycle may still follow historical patterns.
Future projections and price targets
Based on the halving cycles theory and Fibonacci time zones, CryptoCon predicts a first top in June 2025 and a final top in December 2025, similar to the cycle from 2014 to 2017.
The longer it takes to reach the top, the higher Bitcoin and other cryptocurrencies can potentially go. There are signs that Bitcoin cycles are accelerating, which could mean faster recoveries and quicker price increases after corrections.
Bitcoin price analysis
Bitcoin was valued at $64,184 by press time, reflecting a price growth of over 11% in seven days. After reaching $66,000 on July 17, BTC’s price recoiled back below $65,000 and retested this level before dropping lower.
Bitcoin seven-day price chart. Source: Finbold
Despite this, there are numerous bullish signals on multiple timeframes, suggesting a potential ramp-up on the horizon. A significant price increase could be imminent if history repeats, signaling a new bull run.
Therefore, the consistent pattern provides a compelling case for optimism around Bitcoin in the coming months. With a potential price target of $180,000 by 2025, closely monitoring these trends is crucial.
This approach will help capitalize on Bitcoin’s projected growth and navigate the dynamic cryptocurrency market effectively.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
