A technical analyst is predicting that bitcoin could reach a price of $300,000 as it enters the most aggressive part of its bull cycle. The analyst used the Mayer Multiple Mean, a technical indicator, to analyze bitcoin’s trajectory. According to the analyst, bitcoin has successfully tested and held the Mayer Multiple Mean and is currently consolidating. The analyst pointed out that historically, when bitcoin reaches this point, the subsequent rebound is even more impressive and strong. By measuring Fibonacci extensions, the analyst concluded that bitcoin’s current cycle could reach an 8.0 Fibonacci level, leading to a projected price of $300,000. While some may view this projection as unrealistic, the analyst argued that it is technically supported by historical measurements.
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Analyst Eyes $300K Bitcoin Price as BTC Approaches ‘Most Aggressive Part of the Bull Cycle’
