Bitcoin's Price Action Mimicking 2016-2017 Cycle, Could Hit $150,000: Glassnode Analyst
According to Glassnode lead analyst James Check, Bitcoin's price action is following a similar pattern to the 2016-2017 cycle and could reach a top of $150,000. However, Check believes that any level above this is unlikely to hold for long and could lead to a speculative fever. Short-term holders of Bitcoin would see an average profit of 66% if it reaches $150,000, while long-term holders would see an average profit of 509%. Other traders have differing opinions on when Bitcoin will reach its peak, with some predicting a bull run in the first quarter of 2025 and others expecting it to rally to its true macro cycle top in Q4 2025.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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