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Although Bitcoin is having a rough moment with prices this week ranging between $93k and $96kAt least one popular crypto commentator is predicting a huge price increase soon.
According to Ted Boydston, the market should prepare for a manic bull run in the coming days, with the price of Bitcoin reaching $225,000.
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Boydston highlights the price oscillator on M2, which provides real-time buy and sell signals for traders and investors. He then explained that the tool recently gave a buy signal. And if history repeats itself, Boydston expects Bitcoin to begin its price appreciation, which will benefit holders and investors.
Bitcoin and its M2 price oscillator chart
Boydston, a popular crypto commentator and engineer, offers fascinating insight into Bitcoin’s recent price action. Although the price of Bitcoin has fallen recently, it sees a potential price increase soon.
With the exception of the 2016 Bitcoin cycle, a price oscillator on M2 has provided well-timed buy and sell signals.
The oscillator recently showed a purchase. If history rhymes, it means money is being printed and Bitcoin’s manic phase should begin soon. pic.twitter.com/61RpHYudIw
— Ted Boydston (@tboydsto) December 28, 2024
Boydston posted an M2 price oscillator chart on Twitter/X, indicating a buy signal. Because the M2 money supply takes into account the circulation of liquid cash, including checks, physical cash (M1), money markets and savings, the chart provides an interesting perspective on the possible direction of an asset.
As such, this technical chart and indicator provide useful insights into the potential performance of assets, including those in the crypto niche.
A Bitcoin Bull Run Soon?
Readers can find the oscillator from M2’s PPO on the bottom panel using a shared screenshot. The chart was red for 2023 and most of 2024, but shows a green or potential buy signal as the year draws to a close.
Bitcoin’s M2 Price Oscillator Is Giving a BUY Signal!
With the exception of the 2016 Bitcoin cycle, this indicator has insane accuracy.
If history repeats itself, this could mean the start of money printing and another big BTC pump.
Ignore it at your peril! pic.twitter.com/zsepPXjLH0
— BitcoinHyper (@BitcoinHypers) December 28, 2024
Boydston argues that such a signal often leads to a rise in asset prices, ultimately paving the way for a bull run.
Investors can expect greater volatility and a rise in the Bitcoin price if this scenario plays out. Traders and investors have relied on this technical analysis for years, providing correct predictions, except in 2016. The chart did not show a buy signal then, but the price went up after Bitcoin’s halving.
Bitcoin’s future price action
Crypto analysts targeted the $100,000 mark for Bitcoin a few months ago. Now that this has already been achieved in December, many analysts are focusing on new targets. Some analysts claim that Bitcoin’s short-term target is $150,000, while others speculate that its value could fall. $1 million.
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With enough estimates, Boydston’s prediction of $225,000 may seem the most logical and possible. For Boydston, a top emerges in a manic phase of Bitcoin’s bull run, which aligns with a Fibonacci retracement level of 0.382.
Featured image from Getty Images, chart from TradingView
