As the Bitcoin (BTC) price steadily climbs toward its all-time high of $73,700 in March of this year, market experts predict significant gains for the leading cryptocurrency by the end of the year. Crypto analyst Gert van Lagen recently shared his insights on Bitcoin’s price trajectory, analyzing BTC’s parabolic curve and identifying a distinctive step-like formation pattern, which he believes signals a colossal wave 5 rally in the coming months.
Van Lagen notes that Bitcoin’s price action is currently centered around base 4 of this pattern, indicating a consolidation phase between the $53,700 and $68,000 levels, with the former identified as bull market support for this cycle. He predicts that once Bitcoin breaks through base 4 and achieves a new all-time high, it could trigger a substantial rally in wave 5, potentially targeting prices around $250,000.
However, van Lagen also warns of a significant downturn that may follow this surge, with price targets plummeting to as low as $10,000, and in a more extreme scenario, down to $1,000.
