Bitcoin Price Could Reach $180,000 Amid Increased Institutional Demand
Bitcoin dropped to $103,450, resulting in approximately $1 billion lost in leveraged positions. It rebounded to $104,400 shortly after.
Recurring Cycle Patterns
- Historical analysis indicates Bitcoin's growth patterns post-halving.
- After the 2016 halving, Bitcoin rose about 280% within a year.
- Post-2020 halving, it surged roughly 550% in 367 days.
- Currently, Bitcoin has increased around 70% in 416 days since the last halving, suggesting potential for further growth.
Klarch argues that historical trends indicate more upside ahead.
Signs Of The Next Surge
- Bitcoin reached a record of $112,100 on January 20 and $111,980 on May 22.
- These peaks are seen as part of a cycle leading to higher prices rather than the end.
- Anticipated price surges often coincide with increasing trader FOMO.
Demand And Liquidity Driving Price
- Institutional buying and US Bitcoin spot ETFs have reduced supply on exchanges.
- According to Klarch, Bitcoin could rise to approximately $180,000, reflecting a 75% increase from current levels.
- VanEck supports similar targets, indicating broader market sentiment.
- A slowdown in ETF inflows or unexpected market changes may impact this outlook.