Veteran trader Bob Loukas predicts Bitcoin could soar to $150K in this cycle, as historical patterns and growing institutional interest signal a bullish trend.
Bitcoin is consolidating below its 2021 all-time high of $69,000, but market analysts, including veteran trader Bob Loukas, believe that Bitcoin is entering a key phase in its four-year cycle that could lead to an explosive price surge. Loukas predicts a new all-time high of $150K as Bitcoin follows a “perfect script,” fueled by institutional interest, rate cuts, and market sentiment shifts.
Key Points:
Bitcoin’s Four-Year Cycle: Loukas identifies that Bitcoin is about to enter its historically explosive third year in the four-year cycle, with a potential parabolic uptrend on the horizon.
Historical Patterns Support Growth: Bitcoin’s current accumulation phase and the eight-month base it has built suggest a breakout is imminent, according to Loukas. His analysis points to similarities in past cycles when Bitcoin hit new peaks.
Institutional Interest Increasing: Growing demand from institutional investors and the potential approval of more spot Bitcoin ETFs are key drivers of this bullish momentum.
Geopolitical and Economic Factors: Despite global economic uncertainty and geopolitical tensions, Bitcoin continues to attract investors seeking refuge from traditional markets.
FOMO and Bull Run in Q4: As institutional interest grows and fear of missing out (FOMO) kicks in, Bitcoin is likely to see a significant bounce in Q4 2024, paving the way for the expected bull run.
Related: Crypto Adoption Set to Surpass 8% by 2025, Driven by Institutional Interest and Economic Shifts
As Bitcoin consolidates under $69,000, the conditions for a breakout toward an all-time high of $150K are aligning. With institutional demand rising and historical patterns suggesting an imminent uptrend, the market appears to be following a "perfect script." Investors may witness an explosive Q4 that sets the stage for Bitcoin’s next major cycle.
Source: Cointelegraph
Comments