The Bitcoin market (BTC) has recorded more losses than profits last week, which caused a net price drop by 2.37%. Nevertheless, investors and market experts remain very stubborn in relation to the potential potential of cryptocurrency in terms of significant benefits among the current bull.
Bitcoin ready for the price of USD 150,000 – analyst
IN Rapid post At Cryptochan, the username analyst advertised Bitcoin to reach the price of USD 150,000 in the current bull cycle. Commenting on the current market state, which may be disturbing for some investors, Percival states that the Bitcoin price trajectory, marked by keen jumps and consolidation periods, resembles the structural dynamics of any mature financial assets.
As for the future price movement, the analyst refers to the expansion of Fibonacci from the Bitcoin cycle with a low level of USD 15,450 in November 2022 to consolidation at 48,934 USD in 2024. Translating this historical data to the current market, Percival identifies the bitcoin price between 136,000 to 150,000 USD which is additionally supported by data from the Bitcoin price bands – a market record, which analyzes supply based on different purchasing levels.
However, in order for bitcoins to trade in the amount of USD 150,000, the asset must achieve total market capitalization of $ 3 trillion. Currently, there is forceful historical data in support of this postwork. In the context of Percival, he explains that Bitcoin realized that CAP increased by 470% in the previous Bearish cycle in 2021. The currently realized CAP increased only by 111%, which suggests greater potential for market growth.
In addition, the analyst identifies possible sources of demand in order to escalate the forecast market expansion worth $ 3 trillion, one of which is ETF on Bitcoin.
In particular, these investment funds registered almost $ 40 billion of influx during the debut trade year in 2024, because the USA expects to adopt the attitude of the pro-Crypto in the administration of Donald Trump, institutional demand may also escalate thanks to this ETF. In addition, Percival covers the Bitcoin term market, which is currently valued at $ 95 billion as another potential stubborn motor for the forecast market extension
BTC price review
At the time of writing, bitcoins trad up to 102 334, reflecting a decrease of 1.66% over the past day. However, the flagship cryptocurrency increased by 7.93% on its monthly chart after a forceful positive result in January.
According to data from the prognostic site CoincodexMarket moods remain stubborn in the Fear & Greed index of 76, which indicates extreme greed among investors. Looking to the future, CoinCodex analysts predict that Bitcoin can trade in 113, 658 and 132 823 USD in the next five and thirty days, respectively. In particular, they design digital assets to exceed USD 150,000 in the next three months.
