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Literally no one expects something like this.
Crypto holders have been so battered that they simply cannot entertain a situation like this unfolding.
The thought of Bitcoin going up 10% is too much to handle at the moment, let alone reaching a peak of $250k.
But the fact is that this projection has a lot of weight.
This is sound TA based on the logarithmic chart, with key levels all being respected throughout.
It is not a coincidence.
We can see that previous cycles have had a very similar pattern of:
- Top
- Bottom
- Mid cycle top
- Mid cycle bottom
Then onto the overall top again.
The fact is that this cycle has simply been drawn out longer due to the extended period of contraction in the business cycle...
Which was caused by the largest money printing operation ever during COVID.
The larger the expansion, the longer the contraction.
But that has ended now, and we have had our:
- Bottom
- Mid cycle top
- Mid cycle bottom
And next is out full top.
I have said for years that I see the cycle top at $150k - $210k... but $250k is not out of the question.
Many will laugh at this, but they would have laughed at people predicting $60k when the price was at $3k.
Some people will never see it, and that's fine.
I'm not here to convince anyone.