Bitcoin's Ascending Spike: Potential Reaching of $350K as Wave 5 Progresses
In the ever-evolving world of cryptocurrency, Bitcoin continues to make headlines with its recent price movements and predictions of a potential bull run.
After a dip in the market, blue wave 3 ended at $110,000, and blue wave 4 bottomed at $75,000. However, in the last 24 hours, Bitcoin experienced a 3.1% increase, indicating a potential shift in the market's momentum.
This uptick is supported by several factors and analyses. Bitcoin has been following a step-like price pattern, characterized by periods of consolidation followed by sharp upward movements. This pattern suggests that Bitcoin could reach new all-time highs, with some analysts predicting it could reach $350,000[1].
Market expert Gert van Lagen has used a revised Elliott Wave count to predict a potential price peak for Bitcoin above $300,000, with a sell line projected between $350,000 and $400,000. This analysis supports a strong upward trajectory for Bitcoin in the short term[3].
Strong ETF inflows and institutional buying, particularly from companies like MicroStrategy, are also contributing to bullish momentum. Predictions for late 2025 suggest Bitcoin could rally toward $130,000 to $150,000[2].
However, the road to such high prices is not without its challenges. Some in the crypto community remain skeptical about the likelihood of Bitcoin reaching $395,000 in a short timeframe, citing potential retracements and market inefficiencies[3]. Critics also point to macroeconomic and geopolitical pressures as limiting factors that could prevent Bitcoin from reaching such high prices in the near future[3].
Despite these criticisms, the crypto market has shown resilience, shrugging off U.S. trade war worries and Federal Reserve drama. Bitcoin's price is currently tracing a step-like formation, indicating the start of wave 5 on the weekly chart. The bank expects treasury buys and ETF flows to push prices higher, even as Q3 may get bumpy[5].
If the wave 5 formation holds, the upcoming milestone for Bitcoin could be $350,000. The next confirmation point for wave 5 is a break and close above the previous all-time high. The crypto market, in its current state, sets the tone for long-term positioning.
With institutional buying on the rise and predictions from financial experts like Robert Kiyosaki, who predicts Bitcoin could reach a price of $1 million by 2030, the future of Bitcoin remains exciting and uncertain.
[1] (Source for the step-like price pattern analysis) [2] (Source for the predictions of Bitcoin reaching $130,000 to $150,000) [3] (Source for the Elliott Wave count analysis) [4] (Source for Robert Kiyosaki's predictions) [5] (Source for the bank's expectations)
Cryptocurrency, particularly Bitcoin, continues to rally and display a strong upward trajectory, with some analysts predicting it could reach $350,000, aided by institutional buying and strong ETF inflows. Meanwhile, the cryptocurrency market, in its current state, sets the tone for long-term positioning, as financial experts like Robert Kiyosaki foresee Bitcoin reaching a price of $1 million by 2030.
