The Bitcoin price has shown a notable recovery this week and is now back above $100,000 with renewed confidence and inflows. This has sent a wave of one other bullish sentiment to the crypto market, considering that Bitcoin has spent nearly all of the last two months around this level and bullish investors have been attempting to break above it substantially while also stopping a break below $90,000.

Considering from a long-term perspective,the  Bitcoin price still has room to interrupt above $100,000. Many analysts have predicted price peaks above $200,000, and a few predictions are whilst high as $1 million. In accordance with crypto analyst Xanrox, Bitcoin is currently in its last bullish wave to achieve its cycle peak and a correction phase may very well be close.

Road To Bitcoin Peak And Key Targets

According to the crypto analyst, Bitcoin’s current bullish cycle began in 2022 when it was trading at $15,632 and is prone to peak in 2025 at around $125,000. While this predicted price peak may be very small in comparison with other predictions, it’s undoubtedly a very good return for early investors. Nevertheless, those entering at present levels face a riskier environment, especially given the recent market behaviour. 

Xanrox’s projection of a $125,000 peak is rooted in Elliott Wave Theory, a technical evaluation framework that identifies market cycles through five impulsive and three ABC corrective waves. Counting impulse waves from the 2022 bear market low puts the start of the fifth wave around Q4 2024, which is the last impulse wave before the ABC correction phase.

Two technical evaluation tools were used to find out this Bitcoin price peak, that are the long-term trendline and the Fibonacci extension. The trendline, which runs through previous peaks of $20,000 in 2017 and $65,000 in 2021, projects that the Bitcoin price could reach $122,069 in 2025 before hitting resistance. Moreover, the 1.618 Fibonacci extension from the 2022 bear market low aligns exactly with this price peak goal.

What Comes After Bitcoin Price Reaches Its Peak?

Keeping the $125,000 price peak in focus, the analyst noted that Bitcoin should experience a steep correction after it peaks, as seen in historical playouts after the 2017 and 2021 rallies. These corrections are the Elliot wave ABC corrections, which led to 84% and 77% crashes in 2018 and 2021, respectively.

Although such declines are less likely attributable to Bitcoin’s growing market capitalization and increased institutional adoption, the analyst noted that a 60% correction continues to be a plausible scenario. This downturn is anticipated to unfold in an enormous bear market and crisis between late 2025 and 2026. If the worth hits $125,000 in 2025, a 60% correction could bring the Bitcoin price all the way down to $50,000 by 2026.

On the time of writing, Bitcoin is trading at $103,190 and is up by 9.7% previously 24 hours.

Featured image created with Dall.E, chart from Tradingview.com