Cryptocurrency analyst Tony Severino drew a parallel between Bitcoin’s current price action and the 2017 bull run. Based on these similarities, the analyst raised the possibility that the flagship cryptocurrency would see an 80% augment from current levels.

Bitcoin price will augment by 80% if history repeats itself

In Post XTony Severino suggested that Bitcoin’s price could surge to $190,000 if history repeats itself. This occurred when the analyst compared the Bitcoin Elliott Wave numbers from 2024 and 2017, which indicated that Bitcoin could replicate the price movement from Running of the Bulls in 2017.

The attached analyst chart showed that the price of Bitcoin could reach $190,000 on its fifth wave, with this price target marking the high for the flagship cryptocurrency this cycle. This rise to $190,000 would be similar to how Bitcoin rose from $7,550 during the 2017 bull market to a market high of $19,000.

As for how Bitcoin’s price rise to $190,000 will occur, the chart showed that Bitcoin could first move back to around $104,000, then rise to around $123,000, before another price adjustment to $96,000. Once this price correction is made, Bitcoin will start a recent Elliott wave count, which could ultimately cause its price to reach $190,000 due to an impulsive Wave 5 move.

Meanwhile, Bitcoin’s price is ending a wave count that began in overdue October, just before Donald Trump won the US presidential election. Since then, Bitcoin has enjoyed bullish momentum and continued to hit recent highs. The flagship cryptocurrency recently surged to over $107,000 as optimism grows that the Donald Trump administration will create Bitcoin Strategic Reserve.

BTC could reach $125,000 before the end of the year

Cryptocurrency analyst Justin Bennett predicted that the price of Bitcoin could reach $125,000 before the end of the year. This came as an analyst claimed that Bitcoin was going into “full Santa mode” and showed no signs of slowing down. Bennett noted that it may be arduous to ponderous down by the end of the year.

The cryptocurrency analyst added that any potential pullout is unlikely, especially given speculation that Bitcoin will become a US reserve asset under Donald Trump. In line with this, Bennett said he would not be surprised if Bitcoin’s price reaches $116,000 or so up to $125,000 until the end of December.

Cryptocurrency analyst Cryptocurrency titan stated that the price of Bitcoin continues to rise towards the moon. The analyst predicted that the flagship cryptocurrency could rise as high as $158,000, although the accompanying chart suggested that would happen next year.

At the time of writing, Bitcoin is trading at around $106,559, having risen over the past 24 hours, according to data from CoinMarketCap.

Featured image created with Dall.E, chart from Tradingview.com