A popular trader with more than 30 years of experience in financial markets and author of the 60-day cycle theory for BTC, Bob Loukas, released on Monday another outlook of Bitcoin’s price. Unlike the optimistic charts, analyses and predictions that flooded the crypto space after the weekend, his outlook can hardly be called bullish.
As Loukas writes in the caption to his outlook, despite deep oversold conditions, Bitcoin on the weekly chart “remains horrendous” and from a purely visual perspective, according to the trader, it feels as if it is “hanging by a thread” and preparing another large leg down. He also marked his price target for the leading cryptocurrency at around $49,000 per BTC
Business cycle and halving have no effect on Bitcoin price, argues Loukas
Those who tried to argue in the replies, pointing to the business cycle indicator, were told by Loukas that the business cycle indicator is the “biggest cope” in crypto, in his opinion. In addition, he sees no signs of a front-run of the halving, and in the trader’s view, the halving has nothing to do with what is happening on the Bitcoin price chart right now.
HOT Stories
XRP Yield Risks Explained by XRPL Contributor, Schiff Acknowledges Satoshi’s Innovation With Bitcoin, Six Macro Events to Define Crypto Market This Week: Morning Crypto Report
Ethereum’s Massive Slump Continues With Sixth Straight Red Month
As Loukas believes, money moved in early because of the ETF and the pro-crypto government, as well as regulatory changes, but “beneath all of it, it has always been a bear cycle.”
At the moment, BTC is still about 25% away from Loukas’s target. If his calculations are correct, this would mean that from the peak set in October 2025, Bitcoin could potentially lose a little more than 60%.
Nevertheless, in contrast to his bearish view on Bitcoin right now, Loukas also stated in a separate post today that he is “still long core positions in stocks” for now. Here he relies on the Bollinger Bands, which are tightening hard, and the longer this continues, the more it implies a breakdown possibility. However, for now, the trader remains bullish on stocks and bearish on BTC.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Institutional Capital Inflows Drive Bitcoin ETF Six Consecutive Days of Net Inflows, BTC Price Rises Over 12% During Period
On March 17, US Bitcoin ETFs achieved net inflows for six consecutive days, with total capital reaching $962.8 million, and Bitcoin price rose more than 12%. Analysts believe that geopolitical tensions and Bitcoin's safe-haven attributes have driven institutional demand, with the market maintaining attention on its future trajectory.
GateNews19m ago
Robert Kiyosaki Warns of Global Market Crash, Bitcoin Could Soar to $750,000
"Rich Dad Poor Dad" author Robert Kiyosaki has issued another warning that global markets could crash, predicting that Bitcoin and hard assets will surge significantly. He forecasts Bitcoin could reach $750,000, emphasizing the importance of holding cash and diversifying investments to navigate market volatility.
GateNews20m ago
Macro Analysts Warn of Private Credit Crisis, Bitcoin May Become Top Safe-Haven Choice
As artificial intelligence intensifies its impact on software revenue, the private credit market faces mounting pressure with default rates climbing to 5.8%. Analysts warn that additional monetary expansion may be necessary, while Bitcoin has emerged as a hedging tool for investors, with its appeal growing amid uncertainty. The market needs to monitor developments in private credit dynamics and the impact of policy adjustments on Bitcoin's price.
GateNews22m ago
Bitcoin Surpasses $75,000: Short Liquidations Exceed $330 Million, Continuous ETF Inflows Drive Market Rally
Bitcoin's price broke through $75,000 on March 17, hitting a six-week high, accompanied by large-scale short position liquidations. Crypto market liquidations in the past 24 hours approached $498 million, with mainstream altcoins also performing strongly. Spot Bitcoin ETFs have attracted significant institutional capital inflows, boosting market confidence. Technical analysis shows Bitcoin has further upside potential, with resistance at $79,000 and support at $72,000.
GateNews29m ago
France Cryptocurrency Kidnapping Case Escalates: Teenager Involved in Bomb Threats, Helicopter Deployment Shocks Paris Suburbs
A violent incident involving a cryptocurrency holder occurred in the Île-de-France region of France, with police deploying massive forces to pursue underage suspects. The case involves two attacks—one cryptocurrency holder was robbed at knifepoint during a home invasion, and another incident involved the kidnapping of a family and theft of valuables. In recent years, such crimes have been rising in France, particularly targeting high-net-worth cryptocurrency asset holders.
GateNews30m ago
