Amid growing speculations that Bitcoin may have topped this cycle, a top analyst has suggested otherwise, insisting that BTC has more upside.

Bitcoin is down a mere 6.4% from its all-time high of $112,000, and tongues are already wagging about a possible top. A recent analysis suggested that the crypto leader has reached its peak price for this cycle, citing several factors, including a weakening relative strength index (RSI).

Bitcoin Not Done Yet

However, a Wednesday commentary from experienced market analyst Titan of Crypto suggests otherwise. In the June 18 post, he highlighted that while Bitcoin is in the final phase of its bull cycle, it has more uncharted territories to conquer.

To add context, the watcher shared a 1-month Bitcoin chart showing Bitcoin’s price action in the last two bull cycles. The chart highlighted a clear fractal pattern in Bitcoin’s cyclical price movement, divided into one year of intense corrections followed by three years of parabolic expansion.

Interestingly, as highlighted in the chart, Bitcoin’s cycles have followed a clear pattern. For instance, between 2014 and 2015, BTC saw 13 bars (396 days) of a bearish cycle, which aligned with its steep decline from a high of $1,242 to as low as $162.

Meanwhile, momentum picked up at the beginning of 2015, with prices gradually recovering over a 35-bar (1,065-day) period to reach their high of $19,804 in December 2017.

Interestingly, after this period of recovery and eventual bull run, another 13-bar (396-day) correction resumed, followed by the same 1,065 days of bullish uptrend to 2021’s high of $69,000.

Different Cycle, Same Pattern

Titan of Crypto shared that the systematic price development has endured for the third cycle running. After correcting 76% from 2021’s high to $16,240 in December 2022, its bullish phase kicked in in January 2023.

Currently, this parabolic expansion is in the 29th bar, with each month representing one bar. While its price has rallied 534.5% from January 2023’s opening to its current price, history suggests there could be more.

Furthermore, with the bullish phase of the last two cycles peaking after 35 bars, Bitcoin still has at least five more bars to go. This means that Bitcoin has until November this year, which is approximately 165 days from now, to continue its bullish uptrend.

Remarkably, Titan of Crypto did not mention a specific target this cycle. However, an earlier analysis predicted that it could soon rally to $137,000, citing a possible wedge breakout.

A Different Bull Cycle?

While analysts continue to bank on past data to predict Bitcoin’s near-term trajectory, some have suggested that this cycle could be different. Specifically, Michael Saylor suggested that crypto winter is way behind Bitcoin, predicting an extended bullish run to between $500,000 and $1 million before any notable correction.

Binance’s co-founder, Changpeng Zhao, and Brandon Green also agree, predicting a similar price outlook for Bitcoin. The latter tapped the growing institutional influence in Bitcoin and an impending supply shock to spur this explosive move.

A Diamond Top pattern has formed on the Bitcoin daily chart, signaling a potential bearish reversal to crucial support.

Bitcoin has shown sharp price swings over the past week, maintaining levels above $104,000 after an earlier push past $108,000. Despite the strength, it has failed to stay above that mark, pointing to heavy resistance. 

Amid this waning strength, the recent formation of a Diamond Top pattern on the 1-day chart has brought renewed attention to a possible shift in trend.

Diamond Top Pattern Signals Potential Reversal

Analyst The Great Martis, posting on X, identified a Diamond Top pattern, a technical formation typically seen during a slowing rally. The pattern began developing after Bitcoin climbed from $98,000 on May 8 to above $103,000. Since then, the price action has remained mostly constrained within the diamond boundaries.

Attempts to break out continued, with Bitcoin pushing near $111,998 on May 22. However, trendlines forming the diamond pattern limited this upward move. Subsequently, by June 5, the asset had dropped to $100,445, only to bounce back as the lower boundary held firm.

Another surge followed on June 9, briefly pushing the price above $110,000. A drop to $102,740 came after escalations in the Middle East conflict, yet the diamond trendline continued to act as support.

Trendline From 2024 Still Providing Support

Meanwhile, parallel to the diamond formation, a dashed ascending trendline that began forming in August 2024 remains intact. This trendline has offered reliable support throughout the ongoing uptrend. 

It first held on Sept. 6, 2024, when Bitcoin fell to $52,500 and again on April 9 during a pullback to $74,400. If Bitcoin breaks below the Diamond Top support, this long-term trendline is expected to be the next technical level to watch, as it now sits around the $80,000 price mark.

On-Chain Metrics Show Signs of Overheating

Bitcoin Network data over the last seven days reveals further signs of a slowdown. New Addresses fell 0.93%, while Active Addresses dropped 2.26%.

Moreover, Zero Balance Addresses, which typically reflect new wallet creation, also declined by 2.97%. These figures suggest reduced participation on the network.

Ownership data adds more detail. Bitcoin held by long-term holders—classified as Hodlers (1+ years)—decreased by 0.19%.

In contrast, Cruisers (1–12 months) saw a mild increase of 0.32%. Most notably, the share of BTC held by short-term Traders (less than one month) jumped 1.12%, reflecting increased activity among newer market participants.

A high influx of short-term traders often marks the late stage of bull runs, when fear of missing out kicks in. This is a strong signal of overheating for Bitcoin.

Financial author Robert Kiyosaki has again projected a long-term bullish outlook for Bitcoin while highlighting how the wealthy and poor think.

A few weeks after stating that those who don’t own Bitcoin are losers, Kiyosaki has again identified another mental disparity between the poor and the rich. In a tweet on June 18, the prominent author compared quantity to price and how one’s focus on either would determine one’s financial outcome.

Price Vs Quantity

Having already established that the rich invest in Bitcoin, gold, and silver, while the poor save in “fake” fiat currency, he highlighted another trait that differentiates both factions. According to him, the poor focus on an asset’s price while the wealthy fixate on the quantity they hold.

Although he noted that prices are important, the “Rich Dad Poor Dad” author emphasized the need to prioritize the quantity of Bitcoin, gold, or silver that one has. He suggested that the more of these assets an investor is determined to acquire, the greater their chance of achieving financial freedom.

“While I watch the price of Bitcoin, I focus on how many Bitcoins I own,” Kiyosaki said.

Meanwhile, Kiyosaki revealed that he bought his first Bitcoin at $6,000 and has not looked back since then. Although he did not provide further context on the amount he holds, he wished he had more “fake money” to buy more Bitcoin.

Remarkably, Bitcoin has increased extensively from its first purchase, rallying a staggering 1,646% to its current price. Little wonder, Kiyosaki noted earlier, that Bitcoin made him rich.

Bitcoin Going to $1M By 2030

Furthermore, the financial guru asked a pressing question: “How many ounces of gold, silver, and Bitcoin do you own?” Kiyosaki insisted that the wealthy will be those with the largest stash of Bitcoin, emphasizing the need to consistently expand one’s holdings.

Moreover, Kiyosaki noted that there is a chance that Bitcoin could be trading at $1 million per coin by 2030. Interestingly, he and other industry leaders share the same outlook.

For instance, Binance’s CZ, Ark Invest’s Cathie Wood, and JAN3 CEO Samson Mow have all predicted that Bitcoin would attain a seven-figure valuation, with some expecting it sooner than others.

As a result, Kiyosaki urged those looking to get rich to buy more Bitcoin and focus on how many they own rather than its rapidly changing price. To conclude, the author noted that the quantity you own is more important to your future than Bitcoin’s current price.

At the time of writing, Bitcoin trades at $104,782, nearly 91% away from Kiyosaki’s $200,000 price target by the end of 2025 and 854% off the $1 million valuation projected by 2030.