Cryptocurrency expert Gert van Lagen reported that Elliott's wave theory indicates a rise in the Bitcoin price to $300,000 by the end of March 2025.
Van Lagen published a chart showing the price changes of BTC, which depicts five waves:
The first upward wave during which the value of Bitcoin increased from 2009 to 2011;
Sharp correction lasting until the end of 2011;
The impulsive upward wave observed from 2012 to 2017;
Relatively smooth correction in 2018;
Explosive upward wave that occurred in 2019.
Waves on the Bitcoin price change chart
According to Gert, during each explosive wave, the Bitcoin price increased at an average angle of 78.4° until it reached the upper line of the ascending channel. Accordingly, the current explosive wave should end at block 890,000, which will likely be added to the network by the end of March, and the peak BTC price will be around $300,000.
It is worth noting that van Lagen's forecasts should be taken with a grain of skepticism for two main reasons. First, in October 2024, he predicted the BTC price would rise to $250,000 by the end of the year, while the coin's price barely exceeded $108,000. Second, a Reddit forum user under the nickname denfaina believes that the cycle theory based on wave theory will stop working in relation to BTC due to hyperbitcoinization, characterized by a significant excess of demand over supply of coins, as miners are producing far fewer coins than ETF issuers are purchasing, as well as public companies like MicroStrategy.
