Bitcoin Market Expert Forecasts Price Surge to $150,000
In a recent episode of The Bitcoin Layer, analyst James Check discussed factors driving bitcoin's rise past $100,000 and potential movements toward $150,000. Key points include:
- Post-2008, dollar strength rewarded foreign investors; this is shifting to a “sound-money dominance regime.”
- Check highlights a trend where gold has outperformed equities since 2022, now alongside a mature bitcoin market.
- After a sell-off, bitcoin recovered swiftly, with market confidence reflected in buyer behavior around $95,000.
- The market-value-to-realized-value (MVRV) ratio suggests a statistical ceiling near $166,000, with profit-taking expected between $150,000 and $160,000.
- A developing derivatives market is central to this thesis, with expectations of high perpetual-swap funding rates encouraging trading activity.
- Check notes a shift from traditional halving cycles, emphasizing macroeconomic sentiment as the main driver of demand.
- He analyzed corporate treasury trends, indicating ongoing confidence in bitcoin despite ETF outflows.
- Ultimately, he posits that bitcoin's value could stabilize around $150,000 as market confidence is tested.
Current bitcoin price stands at $102,573.
