Bitcoin will hit $200,000 before the next $70,000 bearish cycle

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Bitcoin (BTC) has well-formed evidence suggesting its next all-time high will hit $200,000, an analyst says.

In a January 27 tweet, popular Twitter commentator Trader Tardigrade, also known as Alan, also revealed $70,000 as the potential next low for the bear market.

Stochastic Indicator Offers Historic Firepower For Bitcoin Bulls

For many, BTC price action is always tied to Bitcoin’s four-year halving cycles. The resulting price pattern delivers a record four years, with 2025 the next in line.

The Bitcoin block subsidy halving will take place a year prior, and from there, Alan claims, the way will be open for a giant $200,000.

This price is taken from an analysis of the Bitcoin Stochastic Oscillator, which synchronizes with the cycle highs and lows in BTC/USD. Currently, the indicator is printing its latest low, and if history is any guide, price behavior will do the same.

The Stochastic Oscillator is a volatility tool that compares closing prices to historical averages.

Bitcoin’s well-formed structure with stochastic behavior indicates that the next ATH will be at 200K and the next floor will be at 70K, Alan summarized alongside an illustrative chart.

BTC/USD annotated chart. Source: Trader Tardigrade/Twitter

Replies to the post revealed a familiar difference of opinion when it comes to the future potential of US Dollar Bitcoins.

Still, $200,000 may seem modest to some long-time market participants, with this level just 189% above the existing all-time high of November 2021.

The consensus is that the range of returns from BTC investments will decline in percentage terms over time, with long-term volatility cooling each cycle.

PlanB eyes a price of $32,000 BTC next

PlanB, the analyst responsible for the controversial Stock-to-Flow family of BTC price patterns, is equally optimistic in the current environment.

Related:Bitcoin Can Still Break $50,000 If Correlation With Gold Continues Chart

Bitcoin’s behavior in January was a turning point, he believes, pointing to various on-chain metrics as evidence of the recovery.

Among the last is the realized return, which tracks the overall profitability of the coins spent.

The feedback has just appeared positive! Sellers are now taking profits (green) instead of cutting losses (blue).. big difference, PlanB commented on a chart.

PlanB added this week that Bitcoin’s next short-term target should be $32,000, also based on realized price data.

Yield chart made by Bitcoin. Source: PlanB/Twitter

The views, thoughts and opinions expressed herein are the sole authors and do not necessarily reflect or represent the views and opinions of Cointelegraph.

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