Bitcoin Price Prediction: Unveiling the Crucial $140K Peak Before 2026 Bear Run

Key Points

1. John Glover forecasts Bitcoin (BTC) will reach a peak of $140,000 in 2024, followed by a bear market starting in 2026.

2. The prediction is grounded in Elliott Wave Theory, which identifies market cycles through impulse and corrective waves.

3. Current analysis places Bitcoin in impulse wave (iii) of an extended Wave 5, suggesting strong upward momentum with targets of $130,000, a retrace to $110,000, and a final peak at $140,000.

4. Macroeconomic and crypto-specific factors could influence Bitcoin's price trajectory, adding complexity to the prediction.

5. Investors are advised to approach the prediction with strategic planning, considering both the potential rally and subsequent bear market.