A prominent crypto analyst has made a controversial and bold prediction about Bitcoin’s current bull market, sparking debate in the digital asset world.
According to the expert, this current Bitcoin rally may likely be the final phase of its first true institutional cycle, potentially followed by a sharp decline that could see prices drop to $30,000 $BTC .
The analyst, ‘MrParaBULLic,’ used Elliott Wave Theory to present a chart showing that Bitcoin is completing its fifth and final micro-wave, part of the traditional five-wave movement.
The current price nearing $100,000 $BTC is seen as a sign of the final upward surge, after which a broad market correction is expected.
The analyst clarified that Bitcoin’s price may rise slightly higher in the short term but will likely face a severe downturn afterward.
This analyst also refutes the notion that Bitcoin is immune to deep corrections, citing historical cycles in 2013, 2017, and 2021, where prices fell by 80 to 90 percent after bull markets.
This time, institutional investment does not eliminate this trend but may instead be masking potential risks.
The chart identifies $88,115 as a key support zone, and a breach of this level could lead to a significant price drop to $34,932 or lower.
This decline would represent a 70 to 90 percent drop from current levels, mirroring the intensity of previous cycles.
Furthermore, ‘MrParaBULLic’ stated that Bitcoin’s price could reach the peak of its bull market within the next five to eight months, after which the market trend will rapidly shift to bearish.
According to the analyst, Bitcoin could surpass $200,000 $BTC in this cycle, followed by the onset of a severe bearish phase.
During this period, altcoins may also see significant growth, particularly in the 6 to 12 months following Bitcoin’s peak.
This analysis serves as a warning to crypto investors that, despite the current market strength and institutional interest, caution is essential, as a significant corrective phase may soon begin, potentially leading to substantial price declines.
#BinanceAlphaAlert #MarketRebound #SaylorBTCPurchase #SparkBinanceHODLerAirdrop #BombieBinanceTGE
