Bitcoin’s Consolidation Phase Likely to End with Surge, Analyst Predicts
Bitcoin's recent price fluctuations, hovering between $90,000 and $100,000, have led to growing speculation about the direction of its market.
Some question if the bull run has stalled, while others are optimistic about its continuation. One analyst believes the bullish trend is far from over.
Omkar Godbole, a market expert, suggests that the ongoing price consolidation could be setting the stage for another upward movement.
Drawing from historical trends, Godbole points to the 200-week simple moving average (SMA) as an indicator of the potential for further growth. He observes that the current level of the 200-week SMA is still significantly lower than Bitcoin’s all-time highs, indicating that there is considerable room for more gains.
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Currently positioned at approximately $44,200, the 200-week SMA is far from the peak of $69,000 reached during Bitcoin’s 2021 bull market. Godbole suggests that historical patterns show bull markets tend to end when the 200-week SMA surpasses previous peak values. Therefore, he believes the market will likely continue to rise until the SMA approaches the 2021 record.
Using past data, the analyst highlights that the last bull market concluded when the 200-week SMA reached the 2017 peak of $19,000. Applying this logic to the current cycle, Godbole argues that Bitcoin still has substantial upside potential, and the consolidation phase is likely to end with another surge in value.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
