Bitcoin’s dramatic surge this year has drawn worldwide interest, more than doubling since its beginning and nearing $100k for the first time ever. Tony “The Bull” Severino, an expert crypto analyst active on social media platform X, provided insights on its likely peak within two months or sooner.
Anticipating Bitcoin’s Zenith Through Market Cycles
Bitcoin’s meteoric rise this year can be attributed to several factors, including President Donald Trump’s pro-cryptocurrency stance and supportive policies, and early approval of US-based Spot Bitcoin exchange-traded funds (ETFs), which attracted institutional investments into the market.
Severino views the presidential inauguration on January 20, 2025, as an inflection point for Bitcoin’s trajectory. His analysis is based on an examination of Bitcoin’s pricing patterns that align with Elliott Wave Theory –a method for mapping recurrent price wave patterns within financial market cycles– and suggests a peak around this period.
“Buy the Election. Sell the Inauguration,” was Severino’s strategy aptly captured by his catchy slogan.
Future Outlook for Bitcoin
After briefly approaching $100,000, Bitcoin experienced a minor dip to approximately $92,600 due to investor profit-taking and reduced Spot Bitcoin ETF transactions during the last day. Despite this minor setback, its long-term prospects remain bullish thanks to investors showing extreme optimism as per the Crypto Fear and Greed Index.
Severino asserts that we are in Wave 5 of Bitcoin’s bull run, with projections suggesting a surge to between $133,000 and $144,000. His analysis backs this up; potentially reaching as high as $145,000 at its pinnacle.
