Renowned cryptocurrency analyst CryptoCon, known for accurate predictions, has shared insights on Bitcoin‘s (BTC) price for the years 2024 and 2025. CryptoCon reiterated his belief that Bitcoin recently hit a local peak around $45,000 and warned of an impending downturn.
CryptoCon pointed to the LMACD’s cross below the Falling Cycle Mid-Upper Trend Line, suggesting a significant correction potential for BTC’s price, ranging between 38% and 52%. This implies a potential retraction to levels between $26,000 and $21,500 from the recent peak.
The analyst sees this potential correction as an opportunity for investors who missed optimal entry points at the green yearly accumulation spot on his shared chart. However, he warns that a correction of 38% to 52% from recent highs could shake out over-leveraged long positions.
CryptoCon also anticipates a horizontal movement period lasting approximately 5 to 6 months following the correction. Despite expecting a price correction, he remains bullish overall, predicting the downturn will end by May 2024.
Continuing his assessment, CryptoCon highlighted the positive aspects of Bitcoin’s future performance. He expects Bitcoin to reach an all-time high during the November-December period of 2025, correlating with the block reward halving cycles theory.
According to CryptoCon, the leading cryptocurrency could surge to a new all-time high of $130,000 by the end of 2025, nearly doubling its previous record level of $69,000.