According to CryptoPotato, popular analyst and Bitcoin advocate CryptoCon BitTime's model suggests that BTC cycles closely follow each other, particularly when they alternate. The model points to a $47K target in the near future, questioning if Bitcoin is already approaching this level. The second early top is expected around July 9th, 2024, regardless of the price. The mid-top may occur during Blue or Green Years and is determined by the .618 retrace of the weekly cycle candle bodies.
According to CryptoCon’s analysis, Bitcoin at $47 – $48k is achievable soon, and a prolonged consolidation period is expected to begin in Q2 2024, possibly in February. The cycle top is still scheduled for December 2025, with most data points aligning at $130k. In October, CryptoCon predicted that Bitcoin could reach $47k by December 2023 or January 2024, utilizing the Fibonacci MVRV chart analysis. Meanwhile, there are multiple factors that might affect Bitcoin’s price in December.
