Bitcoin’s Double-Top Pattern Signals End of Bull Market: Is a Crash Imminent? | Bitcoinist.com
Trusted Editorial content, evaluated by top industry professionals and experienced editors. Ad Disclosure
A cryptocurrency analyst is raising concerns about Bitcoin (BTC), predicting a price drop that might take it to levels not witnessed since earlier bear markets. By highlighting recurring historical chart formations, such as the troubling double-top pattern that has preceded previous market downturns, the analyst cautions that Bitcoin’s current market movement is poised to echo past events. Additionally, he expressed worries regarding potential market manipulation fueling the recent volatility.
Recurring Double Top Indicates Bitcoin Decline
Bitcoin’s remarkable surge past the $100,000 threshold has once again sparked optimism in the market, leading to numerous bullish forecasts for a possible ascent to its final cycle peak. However, despite some analysts viewing the present price trends as a bullish indication towards further highs, others are warning of an imminent drop to lower levels.
Notably, Jacob King, a crypto analyst and CEO of WhaleWire, has predicted that a crash in Bitcoin’s price is on the horizon. He presented a comparative chart highlighting a repetitive chart pattern that has anticipated every significant price collapse in Bitcoin’s history. Across all past market cycles, BTC has exhibited a recognizable double-top formation, signaling the conclusion of a bull cycle and the initiation of a bear market.
To clarify, King’s chart exhibits four panels that compare Bitcoin’s price movements across the last four-year cycles. The top left panel displays a double-top pattern formed in 2017, followed by a steep decline after the cryptocurrency reached a second peak price.
Source: Jacob King on X
In the top right chart, a smaller double-top pattern was observed in 2019, leading to a price correction that was less severe than in 2017. A more significant double-top pattern formed in 2021 ultimately resulted in the historic market collapse and prolonged bear market lasting from 2022 to 2023.
The current 2025 Bitcoin setup notably resembles these previous patterns, with King warning that history may be on the verge of repeating itself. His chart illustrates that BTC appears to be establishing a market top, which may indicate the beginning of a bear market.
He further asserted that Bitcoin’s price is already alarmingly overvalued. He encourages investors to exit the market, emphasizing that every upward price movement presents a better opportunity to sell.
Analyst Highlights Concerns Over Potential Market Manipulation
Beyond the technical analysis and possible price declines, King has raised concerns about the factors potentially driving Bitcoin’s latest price increase and volatility. According to him, the recent surge above $100,000 is not due to authentic demand but is instead influenced by Tether (USDT).
According to this controversial perspective, the rapid production of USDT results in artificial buying pressure, providing exit liquidity for major holders who are currently cashing out their positions at inflated prices. King alleges that the issuance of the stablecoin is being employed by insiders to manipulate Bitcoin’s price, creating demand that does not stem from actual fiat investment.
BTC trading at $103,820 on the 1D chart | Source: BTCUSDT on Tradingview.com
Featured image from Pixabay, chart from Tradingview.com
Editorial Process for bitcoinist focuses on providing well-researched, accurate, and objective content. We adhere to strict sourcing standards, and each article undergoes thorough review by our team of expert technology analysts and seasoned editors. This process ensures that our content remains trustworthy, relevant, and valuable for our audience.
Source link
#Bitcoin #DoubleTop #Pattern #Bull #Market #Crash #Coming #Bitcoinist.com
