Is Bitcoin About to Hit $330K? You Won’t Believe What This Analyst Says! 💰😱

by

Key takeaways:

  • So, Bitcoin researcher Sminston With (yes, that’s his real name, I promise!) thinks BTC could gain a whopping 100% to 200%. That’s right, folks, we’re talking about a cycle peak between $220,000 to $330,000! 💸

  • Bitcoin is still throwing tantrums with its cyclical volatility, proving that its price swings are as dramatic as a reality TV show. 📉📈

  • Over $4 billion in BTC has been moved by long-term holders, which is basically a warning sign saying, “Hey, brace yourselves for a price correction!” 🚨

In a recent post on X (formerly Twitter, because why not?), Sminston With shared a Bitcoin price chart that looks like it was made by a math genius using a 365-day simple moving average (SMA) aligned with a power law model (R²=0.96). Sounds fancy, right? 🤓

This model suggests Bitcoin’s price follows a predictable pattern over time, unlike my dating life, which is anything but predictable. 😅

Bitcoin Chart

The chart shows that Bitcoin’s 365-day SMA typically peaks 2 to 3 times above the power law trendline in each market cycle. With Bitcoin priced at $110,000 on May 27, this model projects a potential cycle top between $220,000 and $330,000. It’s like a rollercoaster ride, but with more money involved! 🎢

A second graph in the post highlights Bitcoin’s price deviation from the power law fit, showing that it’s still as volatile as ever. Who needs a stable relationship when you have Bitcoin? 😂

This challenges the common belief that Bitcoin’s price cycles are becoming less extreme over time. Spoiler alert: they’re not! 💥

In Q3 2024, With predicted that Bitcoin would reach a six-figure price by January 2025, when BTC was trading around $60,000. Talk about a crystal ball! 🔮

A decaying period in an investment cycle occurs when a strategy’s returns decline as the opportunity becomes widely adopted, culminating in a peak where the asset’s value drops sharply. It’s like when everyone suddenly decides they love avocado toast. 🥑

With’s quarter-on-quarter price targets for 2025 are summarized below.

Price Targets

But wait! The researcher did warn that his study is based on just four market cycles. So, take it with a grain of salt, or maybe a whole salt shaker! 🧂

Bitcoin dips below $108K as old coiners move $4.2 billion in BTC

Bitcoin long-term holders (LTHs) have transferred $4.02 billion in BTC, the largest spending volume from the 1-to-5-year cohorts since February 2025. It’s like a big spending spree, but without the shopping bags! 🛍️

This surge, driven by the 3-to-5-year cohort ($2.16 billion), ranks fifth-largest in this cycle, following previous spending peaks like $9.25 billion in October 2024. Talk about a shopping addiction! 💳

The 2-to-3-year and 1-to-2-year cohorts contributed $1.41 billion and $450 million, respectively. It’s like a family reunion, but with money! 💰

LTH Spending

As illustrated in the chart, LTH spending often aligns with price peaks, suggesting profit-taking. Meanwhile, BTC is struggling to stay above $110,000 like a contestant on a reality show trying to avoid elimination! 😬

However, sharp price movements could follow if this movement coincides with an increase in BTC exchange reserves. Currently, the total BTC held on exchanges continues to decline. It’s like a game of musical chairs, but with digital coins! 🎶

From a technical perspective, Bitcoin has been setting higher highs and lows since its price bottomed at $74,500. Each time after new highs, BTC has formed a sideways range before the next breakout. It’s like waiting for the next season of your favorite show! 📺

Technical Analysis

The ongoing correction mirrors this pattern, with recent local lows at $107,300, previously marked as local highs 10 days prior. But beware, a deeper correction could be lurking around the corner! 👻

Based on historical data, anonymous crypto trader TXMC noted that Bitcoin could be nearing the end of a green weekly streak. The analyst said,

“BTC Seven to eight consecutive green weeks are the longest streaks Bitcoin has managed since 2013, before it has pulled back or consolidated. Last week was #7.”

Weekly Streak

Read More

2025-05-29 00:32