Former Barclays executive: Bitcoin may have completed the "correction wave", and may rise to a record high of $125,000 in the first quarter
2025-01-06 02:19:42
John Glover, former managing director of Barclays Investment Bank, said that according to the Elliott Wave Theory, a technical analysis tool, Bitcoin is expected to break through $125,000 in Quarter 1, 2025. He pointed out that earlier this week we saw Bitcoin fall below $92,000, but it may have completed the correction wave by now. If Bitcoin breaks through $125,000, it may see another pullback and then move towards the top of the cycle near $160,000. It is reported that the Elliott Wave Theory believes that the asset price in each cycle consists of five waves that are consistent with the main trend direction and three correction waves that are opposite to the trend. Each correction wave follows a wave that is consistent with the main trend direction.
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