The price of Bitcoin (BTC) continues to ascend towards its all-time high of $73,700 recorded in March 2021. A recent prediction by crypto analyst Gert van Lagen suggests this upward momentum is a sign that a colossal wave 5 rally is imminent. Van Lagen’s analysis indicates that BTC price action is currently in base 4 of an uptrend pattern, where the $53,700 level serves as bull market support.
Once Bitcoin breaks through this base and achieves a new all-time high, a significant rally in wave 5 may ensue, potentially reaching prices around $250,000. However, this surge may be followed by a dramatic downturn, with price targets plummeting to as low as $10,000, and in an extreme scenario, down to $1,000.
Van Lagen warns of this potential downturn as the “shake-out of the century.”
