Bitcoin Price Predicted to Reach $150,000 by 2025
Crypto analyst TradingShot previously predicted that Bitcoin could reach $150,000 during the current bull run. With Bitcoin nearing $100,000, insights on how it may achieve this target by 2025 have been provided.
The Current Bitcoin Price Action And Road To $150,000
According to a TradingView post, Bitcoin's price is currently between the 0.786 and 1.0 Fibonacci retracement levels, following consolidation from March to October 2024. The analyst attributed the breakout in October to the US presidential elections and the subsequent market euphoria.
TradingShot noted that Bitcoin's price is one month outside this range and significantly higher. Last month's price action resembled movements in November 2020 and May 2017, periods known for aggressive rallies in previous bull cycles. The analyst observed that Bitcoin exhibited a 71.5° angle between May and December 2017, and a 68.5° angle in the 2021 cycle. If this trend continues, a potential 65.5° angle for the 2024/2025 rally is anticipated.
This analysis suggests a potential Bitcoin target of $300,000 by May 2025 if a double top cycle occurs similar to 2021. The $150,000 target is considered plausible based on technical analysis, as it aligns just below the peak of a multi-year channel identified in the chart.
BTC’s Next Move Still Unclear
Despite bullish predictions, analyst Kevin Capital indicated uncertainty regarding Bitcoin's next move. He highlighted liquidity levels around $88,000, with significant liquidity concentrated between $100,000 and $103,000. This observation suggests a cautious approach moving forward.
Analyst Mikybull Crypto suggested a possible cooling-off period for Bitcoin, noting that a sell signal has appeared on Bitcoin's dominance for the first time since 2020, indicating the start of an altcoin season.
Data from Blockchain Center confirms that 75% of the top 50 coins by market cap have outperformed Bitcoin over the last 90 days, reinforcing the notion of an altcoin season. This trend may lead to a cooling-off period for Bitcoin while altcoins experience significant gains.
Currently, Bitcoin is trading at approximately $95,600, reflecting a decline over the past 24 hours, according to data from CoinMarketCap.
