Bitcoin (BTC) Price Prediction: Crypto Timing Model Points to $150,000 ATH

A crypto timing model is painting a notable bullish case scenario for the leading cryptocurrency Bitcoin, following its recent upclimb to a new all-time high.

A crypto timing model is presenting a notable bullish case scenario for the leading cryptocurrency Bitcoin, following its recent upclimb to a new all-time high. The model is presenting two possible outcomes for Bitcoin in the near term, with one being more bullish than the other.

According to the analysis presented by the researchers at Weiss Crypto, a leading provider of crypto and stock ratings, Bitcoin (BTC) is on track to reach a new all-time high.

As reported on May 16, the Crypto Timing Model, part of the firm’s flagship investment service, indicated that May 23 would be a key date to watch out for. By this date, the timing model had completed a 320-day cycle.

The model also noted that Bitcoin was still in a bull market and the 320-day cycle would likely continue in early July.

The analysis comes after Bitcoin hit a new all-time high on Monday after successfully maintaining its position above $100,000 over the last two weeks.

After setting a previous high of $109,300 in January, the big bull went on to hit $109,500 on Thursday morning. The crypto giant continued its Thursday rally, hitting a fresh high of $111,886 shortly after 9 am London time.

The cryptocurrency had been threatening to break the crucial $109,300 resistance level throughout last week. As reported by Blockware Solutions, this price point marks the previous all-time high, which began in January 2023.

After several attempts, the cryptocurrency finally broke through the resistance on Monday, May 15. From there, the cryptocurrency maintained its gains, even dipping only slightly on Tuesday before continuing to rise.

However, despite the cryptocurrency’s impressive recovery throughout 2023, some analysts believe that another correction might be on the horizon.

As reported by Benzinga previously, PlanB, the creator of the “Stock to Flow” theory, believes that Bitcoin could drop to $40,000. But, according to his theory, from there, Bitcoin would quickly rebound to hit $200,000 by the end of 2024.

The Crypto Timing Model is presenting a different scenario, one that is more bullish in the long term and less so in the short term.

According to Weiss, the crypto timing model is presenting a slight price decline in the near term as the best-case scenario. From there, the cryptocurrency would be poised to continue its trajectory upward, potentially hitting $150,000 or going even higher.

“Our Crypto Timing Model indicated we were on the verge of a new all-time high, almost to the letter. Here’s what the model expects BTC to do next: A slight pullback either late this week or next. Then a clear path to $150k and possibly higher.”