Will Bitcoin Enter Its Massive Bull Cycle? This Engineer Thinks So
Although Bitcoin has had a rough time this week, the price Fluctuating between $93,000 and $96,000at least one popular cryptocurrency commentator predicts a significant price increase soon.
Ted Boydston said the market should prepare for a wild bull run in the coming days, with a Bitcoin price target of $225,000.
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Boydston highlighted the price oscillator on M2, which provides traders and investors with real-time buy and sell signals. He then explained that the instrument had recently shown a buy signal. If history repeats itself, Boylston expects Bitcoin prices to start soaring, benefiting holders and investors.
Bitcoin and its M2 price oscillation chart
Boylston is a popular cryptocurrency commentator and engineer who has provided fascinating insights into Bitcoin’s recent price action. Although the price of Bitcoin has declined recently, he expects the price to surge soon.
In addition to the 2016 Bitcoin cycle, the price oscillator on M2 provided timely buy and sell signals.
The oscillator recently produced a buy signal. If history repeats itself, this means that the money-printing and Bitcoin mania phase should begin soon. pic.twitter.com/61RpHYudIw
— Ted Boydsto (@tboydsto) December 28, 2024
Boydston posted an M2 price oscillator chart on Twitter/X indicating a buy signal. Since M2 money stock takes into account liquid cash flows, including checking deposits, physical cash (M1), money markets, and savings, the chart provides an interesting perspective on the possible direction of assets.
As such, this technical chart and indicator provide useful insights into the likely performance of assets, including those in the crypto niche.
Is a Bitcoin bull run coming?
Readers can find the oscillator taken from the M2’s PPO in the lower panel using the shared screenshot. The chart shows red for most of 2023 and 2024, but flashes green or a potential buy signal as the year comes to a close.
Bitcoin’s M2 Price Oscillator is Flashing a Buy Signal!
With the exception of the 2016 Bitcoin cycle, the accuracy of this indicator is very high.
If history repeats itself, this could mark the start of money printing and another major Bitcoin rally.
Ignore it at your own risk! pic.twitter.com/zsepPXjLH0
— BitcoinHyper (@BitcoinHypers) December 28, 2024
Boylston believes that such signals often cause asset prices to surge and ultimately pave the way for a bull market.
If this happens, investors can expect volatility to increase and Bitcoin price to appreciate. Traders and investors have relied on this type of technical analysis for years to deliver correct predictions, with the exception of 2016. The chart did not flash a buy signal at the time, but the price rose after the Bitcoin halving event.
Bitcoin’s future price trend
A few months ago, cryptocurrency analysts were targeting Bitcoin to cross the $100,000 mark. Now that that goal was achieved in December, many analysts are setting their sights on a new target. Some analysts claim Bitcoin’s short-term target is $150,000, while others speculate the asset could reach $150,000 $1 million.
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After extensive estimating, Boydston’s prediction of $225,000 seemed the most logical and likely. For Boylston, a top was formed during the feverish phase of the Bitcoin bull run, aligning with the 0.382 Fibonacci retracement level.
Featured image via Getty Images, chart via TradingView
