NewsBTC
20 May 2025
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Bitcoin Holds Above $100K as Analysts Predict Rise to $160K

Bitcoin has stabilized after significant fluctuations earlier this year. The cryptocurrency fell from $109,000 in January to $74,600 by mid-April, a drop of over $34,000. Following this, Bitcoin rebounded by more than 30%, recently reaching $105,700 and trading between $101,000 and $104,000.

$10,000 Steps Noted by Traders

  • Analyst Trader Tardigrade observed that Bitcoin rises in increments of $10,000, followed by periods of consolidation.
  • Recent movements included increases from $75,000 to $85,000, then $95,000, and up to $105,000.
  • This pattern allows traders to take profits or establish new positions, potentially forming support zones.
  • The next target could be $115,000, representing an 11% increase from current levels.

Confidence Above $100K

  • Trading above $100,000 strengthens Bitcoin’s position, providing psychological support for buyers.
  • A modest gain of 0.50% was noted last week following an 11% surge earlier in May.
  • This steady growth is interpreted as a healthy market trend, indicating potential for future upward movement.

Long-Term Projections

  • Analysts suggest Bitcoin might target $160,000 based on long-term cycle models like the Golden Ratio Multiplier.
  • CryptoCon indicates that a major cycle level was reached in March 2024 but anticipates further growth.
  • This projection represents an increase of over 50% from current prices.
  • Comparisons are made to the market behavior between 2015 and 2017, where slow growth preceded rapid rallies.