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
Starcloud Targets Bitcoin Mining From Space With New Orbital Data Center Launch
Starcloud plans to start Bitcoin mining in space using solar powered orbital data centers and low cost ASIC miners.
Starcloud satellite network could support energy heavy Bitcoin mining without using power from Earth grids.
Bitcoin mining difficulty dropped to 145 trillion, which offers m
CryptoNewsLand22m ago
In the past 24 hours, the total liquidation amount across the entire network reached $314 million, with nearly 60% of the liquidations coming from long positions.
Gate News reports that on March 9, according to CoinAnk data, the total liquidation across the entire network in the past 24 hours was $314 million, with long positions liquidated at $188 million and short positions at $127 million. By individual cryptocurrency, Bitcoin liquidation was approximately $112 million, and Ethereum liquidation was about $50.51 million. Notably, the on-chain synthetic oil asset XYZ:CL ranked third in liquidation amount, approximately $55.36 million.
GateNews42m ago
Crypto Expert Predicts the Bitcoin Price and Warns of a Possible Drop Toward $44K
The Bitcoin price has been moving through a volatile stretch lately. BTC climbed above the $73,000 mark last week before pulling back again, and it’s now trading around the $67,000 range. Moves like this have kept traders debating whether the market is stabilizing or simply pausing before the n
CaptainAltcoin48m ago
BTC Breaks Through 68,000 USDT
Gate News bot message, Gate market display, BTC breaks through 68,000 USDT, current price 68,018.9 USDT.
CryptoRadar57m ago
Today's Cryptocurrency News (March 9) | Strategy aims to raise $300 million; Bitcoin rebounds and breaks through $67,000
This article summarizes cryptocurrency news as of March 9, 2026, focusing on the latest Bitcoin updates, Ethereum upgrades, Dogecoin trends, real-time cryptocurrency prices, and price forecasts. Major Web3 events today include:
1. The Flow Foundation seeks a court injunction to prevent Korean exchanges from delisting FLOW tokens;
2. The probability of a US recession has surged to 40%, with rising oil prices and escalating geopolitical tensions increasing risks;
3. North Korea has stolen $2.8 billion in crypto assets over the past two years, and the US Treasury Department plans to strengthen regulation of stablecoins.
GateNews1h ago
