Will Bitcoin Enter Its Most Massive Bull Cycle? This Engineer Thinks So
Although Bitcoin is having a rough moment this week, with prices oscillating between $93k and $96k, at least one popular crypto commentator is predicting a massive price run soon.
According to Ted Boydston, the market should prepare for a manic bull run in the coming days, with Bitcoins price targeting $225k.
Boydston highlights the price oscillator on M2, which offers real-time buy and sell signals for traders and investors. He then explained that the tool recently displayed a buy signal. And if history repeats itself, Boydston expects Bitcoin to begin its price surge, benefitting holders and investors.
Bitcoin And Its M2 Price Oscillator Chart
Boydston, a popular crypto commentator and engineer, offers a fascinating insight into Bitcoins recent price action. Although Bitcoins price has recently slipped, he sees a potential price surge soon.
Except for the 2016 Bitcoin cycle, a price oscillator on M2 has provided well timed buy and sell signals.
The oscillator recently flashed a buy. If history rhymes, this means money printing and Bitcoins manic phase should start soon. pic.twitter.com/61RpHYudIw
Ted Boydston (@tboydsto) December 28, 2024
Boydston posted an M2 price oscillator graph on Twitter/X, indicating a Buy signal. Since the M2 money stock considers liquid cash circulation, including checking deposits, physical cash (M1), money markets, and savings, the chart provides an interesting perspective on an assets possible direction.
As such, this technical chart and indicator offer helpful insights into the possible performance of assets, including those in the crypto niche.
A Bitcoin Bull Run Soon?
Readers can find the oscillator taken from the PPO of M2 at the lower panel using a shared screenshot. The chart displayed red for 2023 and most of 2024 but flashes a green or potential buy signal as the year is about to close.
Bitcoins M2 price oscillator is flashing a BUY signal!
With the exception of the 2016 Bitcoin cycle, this indicator has an insane accuracy.
If history repeats, this could signal the start of money printing and another major BTC pump.
Ignore it at your own risk! pic.twitter.com/zsepPXjLH0
BitcoinHyper (@BitcoinHypers) December 28, 2024
Boydston argues that a signal like this often leads to the assets price surge and eventually paves the way for a bull run.
Investors can expect increased volatility and Bitcoin price appreciation if this scenario plays out. Traders and investors have relied on this technical analysis for years, offering correct predictions, except in 2016. The chart didnt flash the buy signal then, but the price went up after the Bitcoin halving event.
Bitcoins Future Price ActionCrypto analysts targeted the $100k mark for Bitcoin a few months ago. Now that this was already achieved in December, many analysts are setting their sights on new targets. Some analysts claim that Bitcoins short-term target is $150k, while others speculate that the asset could hit $1 million.
With plenty of estimates, Boydstons prediction of $225k may seem the most logical and possible. For Boydston, in a manic phase of Bitcoins bull run, a top forms, aligning with a Fibonacci retracement level of 0.382.
Featured image from Getty Images, chart from TradingView
Text source: NewsBTC
