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While Bitcoin is having a tough time this week, with prices hovering between $93k and $96k, at least one popular crypto analyst is predicting a big price move soon.
According to Ted Boydston, the market should prepare for a manic bull run in the coming days, the price of Bitcoin aims at $ 225k.
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Boydston highlights the price oscillator in M2, which provides real-time buy and sell signals to traders and investors. He then explained that the tool just displayed a buy signal. And if history repeats itself, Boydston expects Bitcoin to start rising in price, benefiting owners and investors.
Bitcoin And Its M2 Price Oscillator Chart
Boydston, a popular crypto analyst and developer, offers an interesting insight into the recent Bitcoin price action. Although the price of Bitcoin has recently fallen, you see a possible price increase in the near future.
Outside of the 2016 Bitcoin cycle, the price oscillator on M2 has provided well-timed buy and sell signals.
The oscillator just lit up to buy. If history rhymes, this means the money printing and manipulation phase of Bitcoin should start soon. pic.twitter.com/61RpHYudIw
— Ted Boydston (@tboydsto) December 28, 2024
Boydston posted a graph of the M2 price oscillator on Twitter/X, showing a buy signal. Since the money stock M2 takes into account the liquid money cycle, including checking deposits, physical money (M1), capital markets, and savings, the chart provides an interesting perspective on a potential asset index.
As such, this technical chart and indicator provides useful insights into the potential performance of assets, including those in the crypto niche.
Bitcoin Bull Running Soon?
Readers can find the oscillator taken from the PPO of M2 in the panel below using the shared screenshot. The chart is showing red for 2023 and most of 2024 but is flashing a green buy or potential buy signal as the year draws to a close.
The M2 Bitcoin price oscillator is flashing a BUY signal!
Apart from the Bitcoin cycle of 2016, this indicator has inverse accuracy.
If history repeats itself, this could signal the start of money printing and another big BTC pump.
Ignore it at your own risk! pic.twitter.com/zsepPXjLH0
– BitcoinHyper (@BitcoinHypers) December 28, 2024
Boydston argues that a signal like this usually leads to an increase in the stock price 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, providing accurate forecasts, except for 2016. The chart did not flash a buy signal at that time, but the price went up after the Bitcoin reduction event.
Bitcoin’s Future Price Action
Crypto analysts targeted the $100k mark for Bitcoin a few months ago. Now that this had already been achieved in December, many commentators set their sights on new goals. Some analysts say that Bitcoin’s short-term goal is $150k, while others think that this asset can reach $1 million.
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With most estimates, Boydston’s prediction of $225k seems reasonable and possible. For Boydston, in the amazing phase of Bitcoin’s bull run, the top forms, corresponding to the Fibonacci retracement level of 0.382.
Featured image from Getty Images, chart from TradingView