Analyst: Bitcoin Trajectory Ahead of Schedule, Peak Projected At $325K

Tony "The Bull" Severino

Last Updated: June 11, 2024 2:15 pm

3 mins read

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Bitcoin price recently set a new high for 2020 but has since pulled back to just under $12,000. However, the cryptocurrency is slightly “ahead of schedule,” according to a top crypto expert and former Google engineer.

Because the asset is further beyond in its cycle “trajectory,” it could mean that there’s still more downside to go before the bull run picks up in steam. In the end, however, it doesn’t matter, as the same projection brings the cryptocurrency to a peak of over $325,000 in under two years.

Bitcoin May Be Overly Bullish, Trajectory To Next Peak Is Tracing Ahead Of Schedule

Bitcoin at this point has likely bottomed. If the initial plunge to $3,200 wasn’t enough, buyers wouldn’t let the cryptocurrency set a lower low even on Black Thursday amid the pandemic-induced panic.

Since then the asset has been on a strong uptrend, recovering fully from those lows and then some. The cryptocurrency’s block reward halving has also now past – a bullish event due to its enormous impact on the already scarce supply.

Experts like former Google engineer Vijay Boyapati and several top industry analysts believe the asset follows a four-year cycle driven by this important event. The hype surrounding the halving helped the crypto asset reclaim $9,000, then spent several months consolidating below resistance.

The break of resistance at $10,000 caused a FOMO rally to above $12,000 based on momentum alone. This move higher pushed Bitcoin price just slightly ahead of schedule, compared the last four-year cycle, says Boyapati.

Same Cycle Projection Predicts Next Cycle Peak At $325K By October 2021

According to the crypto expert, if the cryptocurrency was following the last cycle exactly, the price per BTC should be trading around roughly $10,800. Currently, BTCUSD is trading roughly $1000 higher following a pullback that began after setting a local high at $12,400.

The same data calls for Bitcoin price to set a new all-time high somewhere right around Christmas Day – a gift to crypto investors that have weathered the long crypto winter and bear market.

BTCUSD Long-Term Trajectory | Source: TradingView

If Bitcoin continues to follow this path, and it has thus far, the next peak would arrive sometime around October 19, 2021. The target? $325,000.

Such a lofty target and rise from $10,000 to over $300,000 sounds unrealistic. However, at that value, the cryptocurrency’s market cap would be just over half of gold’s. Adding a Schiff Pitchfork to the same price trajectory also appears to perfectly mark the projected top.

BTCUSD Long-Term Trajectory and Schiff Pitchfork Tool | Source: TradingView

The same four quadrants of the tool have also acted as support and resistance for different phases of the last two market cycles, suggesting that there is at least some probability that this keeps pace.

If the peak actually is close to mid-October as this trajectory predicts, the four-year cycle will theory will be proven, and the entire world will know to buy the next dip.

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

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In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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