The stochastic indicator gives a whopping growth of 189% for the Bitcoin price in the next halving cycle. Bitcoin provides “crystallized” evidence that the next record high for the market-leading cryptocurrency will lead to $200,000. As crypto trader Tardigrade predicted on Twitter on January 27, the spectacular record high is also accompanied by a new minimum price of $70,000.
For many observers and analysts, Bitcoin’s price performance depends primarily on the four-year halving cycles, from which a new record high emerges every four years. According to this logic, the next all-time high (ATH) should be imminent in 2025.
The next halving – literally halving the rate of increase in Bitcoin‘s circulating supply – is expected to fall in 2024, kicking off the massive climb to $200,000, at least if Trader Tardigrade has its way.
The crypto expert derives this potential best from the Stochastic Oscillator indicator based on BTC’s highs and lows. The indicator is currently going through a valley, which should soon turn into the next long-term uptrend.
“The crystallized structure of Bitcoin’s stochastic price trend suggests that the next record high is $200,000 and the next minimum price is $70,000,” as the crypto analyst concludes, looking at the related price chart.
However, opinions in the trader’s Twitter thread diverge strongly, which is hardly surprising given the current market situation and the breezy forecast.
After all, Tardigrade has to be given credit for the fact that even a bitcoin price of 200,000 US dollars seems realistic in the long run, as this is ultimately “only” 189% higher than the record high of November 2021.
Meanwhile, the bold prediction is backed by crypto analyst PlanB, responsible for the controversial Stock-To-Flow (S2F) forecasting model. He believes January was a crucial turning point for the bitcoin price, pointing to various metrics as evidence of the crypto market leader’s resurgent strength.
The so-called Realized Return tracks the aggregate profitability of all BTC currency units sold among them.