Bitcoin Price Projected to Reach $245,000 by 2025
Following Donald Trump’s win in the US Presidential elections, a crypto analyst predicts Bitcoin's price could reach $245,000 this cycle. This projection is supported by logarithmic chart patterns and historical data.
When Bitcoin Price Will Hit $245,000
TradingView analyst Behdark has published a report analyzing recent Bitcoin price trends and potential future movements based on a two-week (2W) timeframe. The analysis incorporates comprehensive data on Bitcoin price action.
Behdark highlights that Bitcoin is moving within a valid price channel, indicating a potential target between $245,000 and $250,000 by 2025. Previously, he set a medium- to long-term target of $169,000 but has since revised it to $245,000. Currently, Bitcoin trades at $95,107, representing a 2.18% decline in the last 24 hours. A rise to $245,000 would signify a 157% increase from its present value.
Behdark's projections are based on logarithmic charts and price channels, which help identify sustainable market trends for cryptocurrencies over medium- to long-term periods. He notes that Bitcoin has surpassed critical resistance levels between $77,000 and $78,000, which now serves as a support level.
If Bitcoin's price declines, Behdark indicates it may retest this broken resistance level. Additionally, the price action suggests the presence of a Chicago Mercantile Exchange (CME) gap around $77,000 that, if filled, could reinforce bullish sentiment and reactivate upward momentum.
Trump Presidency To Influence Crypto Market
Behdark also considers that a Trump presidency could significantly impact Bitcoin's trajectory. Trump's support for cryptocurrencies may positively influence the crypto market during his term. Favorable political conditions could enhance cryptocurrency adoption and potentially lead to a sharp increase in the market capitalization of digital assets like Bitcoin. Investors should remain cautious regarding risk management during this bull cycle.
