BTC Bull Market: Bluntz Capital Predicts Continuation Until Early 2025

BTC Bull Market: Bluntz Capital Predicts Continuation Until Early 2025

Bluntz Capital, known for accurately predicting the 2018 bear market bottom, has forecasted that the ongoing Bitcoin bull market will continue until early 2025. According to Bluntz Capital's analysis, Bitcoin has completed wave 4 of an Elliot Wave 5-wave pattern on the weekly chart. This suggests that the next impulse wave (wave 5) is about to begin, which could push Bitcoin's price significantly higher. Bluntz Capital predicts that this wave 5 will end above $100,000, potentially marking a new all-time high for Bitcoin. This forecast aligns with the analyst's previous prediction that Bitcoin could reach $150,000 by the end of 2021. The Elliot Wave Theory is a technical analysis method that identifies recurring patterns in market behavior. It suggests that markets move in predictable five-wave patterns. Wave 1 is an impulse wave up, followed by a corrective wave 2. Wave 3 is another impulse wave up, followed by a corrective wave 4. Wave 5 is the final impulse wave up, which is usually the strongest and most prolonged wave. While the Elliot Wave Theory is not foolproof, it has been used successfully by many traders and analysts to identify potential market turning points. If Bluntz Capital's analysis is correct, the Bitcoin bull market is set to continue for at least another three years.