Bitcoin Price Moves Similarly To The Elliot Wave Count From 2017, Why Price Can Jump Another 80%

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	2,073,155,148,323	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

2,073,155,148,323

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-1,332.47	-1.26%	104,818.68	104,818.67	104,818.68

Price Change

Price Change %

Current Price

Bid Price

Offer

-1,332.47

-1.26%

104,818.68

104,818.67

104,818.68

High Price	Low Price	Open Price	Prev. Close	52 Week Range
106,528.13	104,800.09	106,114.74	106,151.15	38,501.00 - 108,388.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

106,528.13

104,800.09

106,114.74

106,151.15

38,501.00 - 108,388.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	03:33:22	0.000018	104,818.68	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

03:33:22

0.000018

104,818.68

USD

Price x Volume	Volume	Base Symbol	Related Pairs
194,224,707.14	1,837.47	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

194,224,707.14

1,837.47

Bitcoin Price Moves Similarly To The Elliot Wave Count From 2017, Why Price Can Jump Another 80%

17/12/2024 7:30pm

NEWSBTC

Crypto analyst Tony Severino has drawn a similarity between the current Bitcoin price action and that of the 2017 bull run. Based on these similarities, the analyst raised the possibility of the flagship crypto witnessing an 80% surge from its current level. Bitcoin Price Eyes 80% Surge If History Repeats Itself In an X post, Tony Severino suggested that the Bitcoin price could rally to $190,000 if history repeats itself. This came as the analyst drew a comparison between the 2024 and 2017 Bitcoin Elliott Wave count, which indicated that Bitcoin could replicate the price movement from the 2017 bull run. Related Reading: Time To Sell XRP? Price Completes Head And Shoulder Pattern, Suggesting Crash To $2.2 Is Imminent The analyst’s accompanying chart showed that the Bitcoin price could reach $190,000 on the fifth wave, with this price target marking the peak for the flagship crypto in this cycle. This rally to $190,000 would be similar to how Bitcoin rose from $7,550 in the 2017 bull run to its market peak of $19,000. As to how this Bitcoin price rally to $190,000 will happen, the chart showed that Bitcoin could first retrace to around $104,000, then rally to around $123,000, followed by another price correction to $96,000. Once this price correction is done, Bitcoin will begin a new Elliott Wave count, which could eventually send its price to $190,000 on the Wave 5 impulsive move. In the meantime, the Bitcoin price is completing the Wave count, which began around late October, just before Donald Trump won the US presidential elections. Since then, Bitcoin has enjoyed bullish momentum and continued to reach new highs. The flagship crypto recently surged past $107,000 as optimism grows that Donald Trump’s administration will create the Strategic Bitcoin Reserve. BTC Could Reach $125,000 Before The Year Ends Crypto analyst Justin Bennett predicted that the Bitcoin price could reach $125,000 before the year ends. This came as the analyst stated that Bitcoin is going “full Santa Claus” mode and isn’t showing signs of slowing down. Bennett remarked that pullbacks might be hard to come by through the end of the year. The crypto analyst added that any potential pullback is unlikely, especially given the speculation that Bitcoin will become a US reserve asset under Donald Trump. In line with this, Bennett said he won’t be surprised if the Bitcoin price hits $116,000 or even $125,000 by the end of December. Crypto analyst Titan of Crypto stated that the Bitcoin price continues to ascend to the moon. The analyst predicted that the flagship crypto could rise to as high as $158,000, although his accompanying chart suggested that would happen next year. At the time of writing, the Bitcoin price is trading at around $106,559, up in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com

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