Two months ago I highlighted that the peak in March of this year was not the all-time high for the ongoing Bitcoin cycle. 👀
This perspective stood in stark contrast to the prevailing views of many Bitcoin analysts and professionals within traditional finance, who confidently stated that the $73,000 peak marked the top of the current Bitcoin cycle.
However, my proprietary 0nchained Top/Bottom Index, a unique indicator I've meticulously developed, showed a different picture.
Unlike any other tool in the market, this indicator has demonstrated remarkable precision in identifying Bitcoin’s cyclical tops and bottoms. Notably, the 0nchained Top/Bottom Index had declined to the levels it registered during the $73,000 price point back in March, signaling significant room for potential upside.
Our comprehensive, data-driven insights reveal that the current market cycle aligns closely with historical patterns. This indicates that Bitcoin's price could potentially rise from its current level of $93,000 to reach a peak between $180,000 and $200,000.
Again, and again, we’re not at the peak yet! The index suggests that the top will be reached when the indicator falls within the 0 to 0.09 range—currently, it’s still at 0.27.
Written by onchained
