Crypto analyst CryptoCon recently introduced the concept of a Bitcoin ‘Golden Multiplier Ratio,’ suggesting an exceedingly optimistic forecast for Bitcoin’s price trajectory. According to CryptoCon, this indicates Bitcoin’s bullish streak is just beginning, implying substantial future gains for the leading cryptocurrency.
In a post on social media platform X, CryptoCon emphasized the significance of the Bitcoin Golden Multiplier Ratio, pointing out that it signals a substantial price hike for Bitcoin. He specifically mentioned Level 5 of this ratio, which he described as serving a dual purpose for both mid-cycle peaks and overall cycle tops. CryptoCon noted that Bitcoin reached its mid-cycle peak at this level back in March, achieving a then all-time high of $73,000.
CryptoCon further hypothesized that Bitcoin is likely to revisit this level as the current market cycle progresses. He elaborated that the Level 5 band has now increased to $122,000 and is still rising. This growth, according to the analyst, indicates that the Bitcoin rally is far from over, raising the possibility that Bitcoin could surge to the $122,000 mark.
In another post, CryptoCon utilized the Magic Bands indicator to offer additional insights into Bitcoin’s potential price movement in this bull market. He predicted that Bitcoin is on track to hit Level 3 of the Magic Bands at $98,720. He explained that these bands are poised to expand rapidly upwards as they adjust to the increased trading volume beyond the previous all-time highs.
Based on this analysis, CryptoCon posited that the target for the cycle top is now $134,000, with Bitcoin potentially gaining $1,000 per week. He forecasted that the cycle top might be reached sometime in late 2025, allowing ample time for the bands to extend to even higher price levels, thus supporting the likelihood of further significant increases in Bitcoin’s value.
Supporting this bullish outlook, crypto analyst CrediBULL Crypto asserted that Bitcoin appears primed to climb to new local highs, provided it maintains its position above the $87,700 mark. He added that a decisive and impulsive move beyond the local high of $93,800 could propel Bitcoin past the $100,000 threshold, making a dip to $72,000 improbable until the subsequent bear market.
However, CrediBULL Crypto issued a note of caution. Should Bitcoin fail to achieve a clear and vigorous advance, it would suggest a corrective phase, significantly increasing the probability of revisiting the $70,000 to $72,000 range, with a potential drop below $70,000.
As of now, Bitcoin’s price hovers around $91,200, marking an almost 4% increase over the last 24 hours, according to CoinMarketCap data. This sustained price level continues to fuel discussions and anticipations in the crypto community about Bitcoin’s potential ascent towards new heights.
