Former Barclays Executive: Bitcoin May Have Completed "Correction Wave," Could Rise to a Record High of $125,000 in the First Quarter

John Glover, former Managing Director of Barclays Investment Bank, stated that according to the Elliott Wave Theory, a technical analysis tool, Bitcoin is expected to break through $125,000 in the first quarter of 2025. He noted that earlier this week we saw Bitcoin fall below $92,000 but it may have completed its corrective wave by now. If Bitcoin breaks through $125,000, it might experience another pullback before heading towards the cycle top near $160,000.

It is known that the Elliott Wave Theory posits that asset prices in each cycle consist of five waves consistent with the main trend direction and three corrective waves against the trend direction. Each corrective wave follows a wave consistent with the main trend direction.