Crypto Analyst Predicts Bitcoin Bull Run Peak in December 2024

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In the turbulent sea of the burgeoning cryptocurrency market, there’s a growing ray of optimism and faith shining from the investor community. Known for his discerning insights, Crypto Con, a highly-regarded cryptocurrency analyst, and enthusiast, has unveiled his expectations about when Bitcoin might hit its zenith in the ongoing bull cycle. The prediction is cleverly formulated, deriving insights from the cumulative peaks of previous Bitcoin runs.

Using a keen focus on historical data, Crypto Con sheds light on possible trends that would serve as a beacon revealing when Bitcoin, the largest cryptocurrency asset by market, is slated to hit its highest stride in the present cycle. Crypto Con’s secret weapon? The Stochastic Momentum Index (SMI) Ergodic Indicator. As per his analysis, Bitcoin is currently perfectly calibrated to match progress in the existing bull cycle.

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Adding depth to his prediction, Crypto Con suggests that, despite Bitcoin’s current impressive play, there are still significant strides to be made. Based on BTC’s present stance, and considering a timeline roughly a year from the peaks of the cycle, the culmination of Bitcoin’s current run might be witnessed somewhere between January and February of 2025. However, Crypto Con seems to keep his eyes fixed on December 2024, as he anticipates it to be the climax of this cycle, considering the present growth trajectory.

In a recent bullish move, Crypto Con underlines the possibility of the cryptocurrency market’s recovery from a correction phase, priming the pump for a potentially significant boost to Bitcoin’s prices. Echoing the importance of the SMI metrics in his current outlook, he maintains that Bitcoin is well on its way to reaching this cycle’s peak around the beginning of 2025 and that his current focus remains steadfast on December 2024.

The prediction is intriguing as the analyst had previously placed the Bitcoin price target around a whopping $149,000 by the end of the year, suggesting he anticipates the cryptocurrency to peak at this level by December. The prediction is bolstered by immeasurably precise measurements for Log Regression Curves and tops of the 2021 cycle. He also earmarks the slightly more conservative layer 6, symbolizing the 2013 cycle top, aimed to reach the $108,000 level.

As Bitcoin’s journey unfurls in this cycle, Crypto Con observes a price consolidation phase, a novel development. But as volatility shrinks, this consolidation becomes palpable.

Dipping into Fibonacci Extensions as well, Crypto Con evaluates the potential peak Bitcoin price this cycle. In light of his chart’s cycle retraces, earlier phases nearly hit the 2.618 extension, with the last one striking the 1.618 extension. If this cycle repeats the 1.618 point, Bitcoin’s price could reach $159,128. Although he admits this is a rather optimistic prognosis for this cycle.

As we analyze his conjecture, Bitcoin, at present, is inching towards the $70,000 mark, reflecting a 5% jump in the past week. In contrast, both market cap and trading volume experience a slight dip by 0.25% and 12% respectively over the past 24 hours.