is currently hovering around the $103,000 level, but its recent upward momentum has tapered off over the past week. Despite the short-term fluctuations, the long-term outlook remains positive.
Some market watchers are turning to long-term cycle indicators for guidance. One such tool, the Golden Ratio Multiplier—which accurately predicted Bitcoin’s peak in 2021—is once again drawing attention for its potential to forecast the next major top in this cycle.
Golden Ratio Multiplier Reappears with Fresh Predictions
In a recent post on X (formerly Twitter), popular crypto analyst CryptoCon highlighted the effectiveness of the Golden Ratio Multiplier in identifying previous Bitcoin cycle tops. This model uses logarithmic growth and Fibonacci-based multipliers to track Bitcoin’s broader trends.
The tool successfully signaled major tops in 2013, 2017, and again in April 2021. For the current cycle, it flagged a notable high in March 2024, which CryptoCon believes was only a "mid-cycle top"—not the final peak.
According to him, Bitcoin has already reached Level 4 on the multiplier chart, but the true peak is still ahead. He noted, "We’ve already hit our cycle top level once, but that was the mid-top. We're likely to revisit it."
The next key resistance level, Level 5, is currently around $160,000 and is trending upward. Drawing comparisons to the 2015–2017 cycle, CryptoCon believes the current price structure mirrors the gradual buildup seen in early 2017 before Bitcoin surged dramatically.
$160K Seen as the Next Major Milestone
A chart shared by CryptoCon outlines each level of the Golden Ratio Multiplier, ranging from Levels 1 to 10—each tied to a multiple of the 350-day moving average. In past cycles, Bitcoin peaked at Level 10 in 2011, Level 9 and 8 in 2013, Level 7 in 2017, and Level 6 in 2021. For this cycle, Level 5 is considered the most probable top.
If Bitcoin continues to follow this historical pattern, the market may be setting up for another rally toward the $160,000 mark, which could serve as the cycle’s ultimate peak. For now, the price near $103,000 might be a consolidation phase before a potential breakout. As CryptoCon put it, “Slower buildup, then all at once.
