Bitcoin’s (BTC) future price predictions continue to captivate the crypto community, especially since the asset has primarily traded in a consolidated phase throughout 2024. The prospect of Bitcoin reaching its next all-time high has gained prominence recently, buoyed by significant factors like the upcoming halving event and regulatory changes.
In the quest to pinpoint the next Bitcoin all-time high, crypto analyst CryptoCon, in an X (formerly Twitter) post on September 22, highlighted that the asset may be mirroring a pattern reminiscent of the 2015 market cycle, potentially paving the way for a new record price from 2024.
In his analysis, Bitcoin will likely hit a new high in 2025 and trade between $90,000 and $130,000.
Bitcoin price analysis chart. Source: CryptoCon
CryptoCon’s analysis starts with the observation of what he calls the “first early top” for Bitcoin on July 13, 2023. He compares this event to the 2015 market cycle when Bitcoin hit a bottom in August and began a bullish run in November of the same year.
He pointed out that people might expect a 2019 ‘carbon copy’ instead; he highlighted the similarities with 2015, suggesting that Bitcoin might be preparing for a similar trajectory.
CryptoCon refers to this period as the “green accumulation year,” with only two more months left in this phase. According to his analysis, the next significant event to watch for is the “early top,” which he predicts will occur approximately 21 days from July 9, 2024, with a likely price target of around $48,000.
He anticipates that Bitcoin’s “cycle top” will happen around 21 days from November 28, 2025, with an expected price range of $90,000 to $130,000, a new all-time high.
At the same time, the analyst hinted at another cycle bottom around 21 days from November 28, 2026, though he refrained from providing a specific price projection for this event.
Road to Bitcoin’s next record high
It’s worth noting that there is widespread anticipation of Bitcoin reaching a new high, with the next halving event expected to be a significant catalyst. Additionally, there is hope for the potential approval of a Bitcoin spot Exchange Traded Fund (ETF).
Furthermore, onchain activities indicate that investors are likely anticipating another price pump. Specifically, data indicates that Bitcoin reserves on exchanges are approaching a six-year low.
Upon initial examination, a decline in the amount of Bitcoin stored on exchanges signifies a bullish signal, reflecting a robust market and the anticipation of price appreciation.
Given factors like regulatory uncertainty, traders and investors may choose self-storage, temporarily moving their BTC away from centralized platforms and returning when conditions are more favorable.
Bitcoin price analysis
By press time, Bitcoin was valued at $26,570 by press time with weekly gains of about 0.20%.
Bitcoin seven-day price chart. Source: Finbold
On another front, Bitcoin’s technical analysis from TradingView is predominantly bearish. A one-day gauge summary suggests a ‘sell’ rating at 12, a sentiment echoed by moving averages at 10. Oscillators recommend a ‘neutral’ stance at 8.
Bitcoin technical analysis. Source: TradingView
At the moment, the focus remains on Bitcoin’s ability to successfully breach the $30,000 level, which is considered a pivotal path to a new record price.
Disclaimer:The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
