Bitcoins $150,000 Target Just 3 Months Away as Analyst Updates Bull Cycle Countdown ⋆ ZyCrypto

Bitcoin

Bitcoin‘s $150,000 Target Just ’3 Months Away as Analyst Updates Bull Cycle Countdown ⋆ ZyCrypto

Bitcoins move to $150k or even further is imminent, according to one popular analyst on X. Crypto Bullet, the influencer in question, started a countdown clock last month after his analysis estimated that a $150k move was just four months away. Now, after 30 days, the countdown has been updated by the analyst and now reads just three months.

Bitcoins Move to $150k

Crypto Bullet posted this graph to support their estimation:

Image Source: TradingView

The crypto influencer also tweeted alongside this graph:

He has previously emphasized that the digital currency is expected to post a new ATH approximately 518-546 days after every new halving. The previous ones, back in 2016 and 2020, followed this trend, and we are well on course to experiencing it again, the analyst argues. The last halving occurred back on April 15, 2024, so we are inching towards a major climax according to these estimates.

More specifically, the analyst believes that we are currently less than 77 days away from the new top, which is very exciting. While it is tough and quite unrealistic to predict where the major digital asset will end up in the coming months, realistic estimates range anywhere between $150k and $200k.

Current Market Conditions

Bitcoin is currently trading below the $115k price level. The largest cryptocurrency by market capitalization has been quite volatile overall, with a general bearish trend and a notable drop during the last two days that saw the short-term bears pull it below $115k eventually.

While the price has fluctuated, it has largely traded within a defined range and hasnt broken up the long-term bullish trend. Strong on-chain and HODLer data show that the digital asset is not showing any signs of capitulation, and long-term players are committed to it right now.

However, there is a chance that the price may dip further before embarking on a major move later this year. This is why analysts are currently watching key support levels closely. If Bitcoin drops below $110,000, there is a possibility that it could slide further toward $106,000. The end of the 3rd quarter is expected to be a major game-changer for Bitcoin, as it is currently wrestling with a high-interest rate situation and the performance of the conventional markets.