Crypto Model Accurately Predicted Bitcoin at a New All-Time High — Here are the Next two Moves the Model Points to

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. The model outlines two possible outcomes for Bitcoin in the near term, with one leaning more bullish than the other. 

On May 16, Weiss Crypto, a leading provider of crypto and stock ratings, reported that Bitcoin, the leading cryptocurrency by market cap, is on track to reach a new all-time high. According to the report, the Crypto Timing Model pointed to May 23 as a key date to watch out for. 

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

Notably, Bitcoin hit a new all-time high on May 22 after successfully maintaining its position above $100,000 over the last two weeks. 

This morning, Bitcoin surpassed its previous high of $109,300 attained in January, to trade around the $109,500 price mark. The big bull continued its Thursday rally, hitting a fresh high of $111,886 shortly after. 

What is next for Bitcoin? Crypto Model points to $150,000 

According to the Crypto Timing Model presented by Weiss, Bitcoin is inclined to maintain its current trajectory, with the potential of hitting $150,000 or going higher in the long term. However, a mild price decline might be observed in the near term. 

“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.” Weiss wrote. 

At report time, Bitcoin, up 8.06% over the last 7 days, is trading at $110,476 per coin.