Analysts predicting Bitcoin to rise to $120,000 have released a significant viewpoint: the ultimate bull run target may reach $270,000.

Is the ultimate bull run for Bitcoin coming? Analysts predict a peak looking at $270,000

After Bitcoin soared to $123,000 in a single day, crypto analyst XForceGlobal reiterated his strong bullish stance. He stated that Bitcoin is currently in the early stages of a bull run, and the most explosive upward phase – the third sub-wave of Wave 3 – is underway.

Elliott Wave Structure Suggests Strong Upward Movement

XForceGlobal pointed out that from the wave structure perspective, Bitcoin is currently in the third phase of the macro Wave 5, which is usually the steepest and most momentum-driven upward wave. His chart shows that Bitcoin has currently broken through the bottom of Wave 2 by more than $40,000, indicating a clear trend reversal.

The analyst divides the historical bull run cycles of Bitcoin into three stages: consolidation, parabolic rise, and sharp correction. Each halving event (2012, 2016, 2020, 2024) has become a catalyst for the initiation of the bull run. He believes that the halving event in April 2024 is leading Bitcoin into a new round of mid-term rise, with the price expected to break through the significant barrier of $272,832 within this cycle.

Short-term target set at $155,000

In the subsequent analysis, XForceGlobal further pointed out that the price target for Bitcoin in the next phase is $155,000. He emphasized that Bitcoin is currently operating in a five-wave impulse structure, with a target range of $140,000 to $155,000, and expects several macro-level technical adjustments along the way.

His chart also shows that Bitcoin has recently broken through a complex WXYXZ correction structure, and this breakout has become the driving force for this round of increase. The completion of this structure paves the way for the next stage of the five-wave increase.

Beware of a significant pullback after the peak of endgame sentiment

Despite the overall bullish outlook, XForceGlobal warns investors not to overlook the risks at the end of a bull run. He predicts that once Bitcoin reaches the peak of $270,000, there could be a subsequent deep correction of up to 85%, with prices potentially falling to around $41,646.

He emphasized that so-called "smart money" has already laid out exit strategies, while "blind followers" often enter the market at emotional peaks and end up getting trapped. As the market has not yet entered a true emotional climax, now is a critical period for preparing to exit.