Market analyst Gert van Lagen has revised his Elliott Wave count analysis, suggesting that Bitcoin (BTC) could potentially peak above $300,000, with an ambitious target of $395,000 in the final leg of its bullish cycle.

According to Lagen, the peak of Bitcoin's Wave 5 is expected to occur in August 2025, indicating a rapid price increase in the coming weeks.

His analysis reveals a parabolic curve characterized by four consolidation phases, which suggests a structured upward movement leading to this significant price increase.

A decisive breakout above Bitcoin's all-time high would confirm the continuation of this upward trend, with a projected sell zone identified between $350,000 and $400,000.

Despite Lagen's optimistic predictions, skepticism persists within the crypto community regarding the feasibility of Bitcoin reaching $395,000 soon, with many citing potential market risks and macroeconomic pressures.

Critics of the analysis argue that it may overlook the risks of a price retracement to lower levels, raising doubts about the likelihood of surpassing $350,000 in the near term.

On July 1, 2025, Lagen shared his updated analysis, indicating that Bitcoin has completed Wave 3 above $106,000 and concluded Wave 4 below $79,000, with Wave 5 currently unfolding.