Bitcoin Expected to Reach $140,000 This Year Before 2026 Bear Market
Market analyst John Glover predicts that Bitcoin will reach approximately $140,000 by the end of 2025 before entering a bear market in 2026. Key points include:
- Bitcoin has dropped 4% over the past week, with prices falling below $112,000.
- The decline follows profit-taking by long-term holders and losses in crypto-related stocks like Strategy (MSTR) and Coinbase (COIN).
- The current sell-off is viewed as a typical retracement wave after a bullish impulse.
- Glover suggests Bitcoin might hit $130,000 in the coming weeks before retreating to around $110,000 in September.
- This movement is part of a five-wave pattern outlined in Elliott Wave Theory, indicating potential for a peak at $140,000.
- Glover anticipates significant debate on future price predictions once Bitcoin reaches this level but maintains a bear market outlook for 2026.
