Tony Severino, a Chartered Market Technician and accomplished Bitcoin trader, has garnered attention for accurately predicting both the timing and price peak of Bitcoin. In a recent discussion on an X Space hosted by Wolf Bitcoin and Wolf Financial, Severino unveiled his official target for the bear market bottom in BTCUSD. He forecasts that Bitcoin will reach a value of approximately $34,000 by October 2026, anticipating a total drawdown of around 72%.
Severino’s analysis is rooted in his expertise in technical cycles, patterns, and market psychology. He posits that the current bear market will conclude later this year, with the price prediction based on historical data showing previous bear market drawdowns. The first recorded decline saw Bitcoin plummet by 94%, followed by drops of 86% in 2014, 84% in 2018, and 78% during the recent bear market, which ended after the collapse of FTX. This data suggests that future bear markets may average drawdowns between 72% and 74%, with Severino’s estimate leaning towards the conservative end.
His price targets are significant not only for their analytical basis but also due to his track record. Severino had previously predicted an initial Bitcoin peak around early 2025 and accurately identified the onset of the bear market at that time. He further forecasted a bounce in prices for April 2025 and warned of a topping out at $126,000 in late October.
Severino is also gaining recognition for his successful trading strategies, reportedly achieving returns of up to 13,000% on short positions using leverage. His recent performance includes a notable 183% return on a public trade involving Silver, positioning him as the top performer on the Slice App, where he operates transparently—making all of his trades public and verifiable.
As the cryptocurrency market continues to evolve, Severino’s insights and predictions are being closely watched by traders and analysts alike, marking his perspective as a significant voice in Bitcoin’s tumultuous journey.
