Bitcoin Price Expected to Top Below $150,000 by January 2025
Crypto analyst Tony Severino forecasts that the Bitcoin price bull run may conclude as early as January 2025, with a potential peak below $150,000.
Bitcoin Price Projections
In an X post, Severino indicated that Bitcoin could reach its peak around January 20, 2025. His chart suggests BTC is following a typical market cycle, projecting a top below $150,000 next month.
The chart indicates that Bitcoin is nearing the final phase of this market cycle's motive wave. After this phase concludes, likely by January 2025, a corrective wave will initiate, potentially lasting until mid-2027 and retracing Bitcoin to around $50,000.
Impact of Donald Trump’s Pro-Crypto Stance
In a detailed blog post, Severino analyzed how Donald Trump's election narrative has influenced the current market surge. Following his pro-crypto stance, Bitcoin broke through a resistance level on election night and subsequently reached $100,000.
Severino argued that the prevailing sentiment in the market cannot fathom a scenario where Bitcoin does not significantly increase, especially with promises of a Strategic Bitcoin Reserve from the president-elect, which may generate fear of missing out (FOMO) among nations.
He referenced the Efficient Market Hypothesis, suggesting that Bitcoin might have already incorporated Trump's pro-crypto policies into its price. If this holds true, it could lead to substantial market euphoria and a cyclical peak coinciding with Trump's inauguration, possibly marking the end of the current bull run.
Historical Context of 'New Paradigm'
Severino correlated the term "new paradigm" with previous peaks in Bitcoin's market cycles. He noted that during the launches of CME Futures and Coinbase's IPO, expectations for Bitcoin's rise were high; however, both events preceded significant bear markets instead.
Currently, Bitcoin trades at approximately $99,200, reflecting a decline over the past 24 hours, according to CoinMarketCap data.
