The popular market analyst Gert Van Lagen has the bofter boldness of Bitcoin (BTC) to reach the price of USD 300,000 in the current course of the bull. Van Lagen’s forecasts appear a few days after establishing a novel highest all time in the amount of USD 111,970, which signals a mighty stubborn intention to maintain the current price raise
Over the past week, the most essential cryptocurrency has registered a petite price raise by 5.35%, because the news of US President Donald Trump recommending a 50% tariff for imports from the European Union (EU) forced a slight withdrawal of prices.
Bitcoins Possible rally growth projects up to 300,000 USD
IN X Post On May 24, Gert Van Lagen shares the BTC price campaign since the last cycle in 2021, resulted in the creation of a cup and a handle, which suggests that the digital resource is on the edge of a stern breakthrough of the price.
In the context, the cup and handle is the main stubborn pattern of continuation, which indicates a potential breakthrough up. In the case of Bitcoin, the Cup of Forms between the end of 2021 and at the beginning of 2024, because the price action created a rounded bottom, reflecting the decline from the former highest all -time by about USD 69,000, followed by a period of stabilization and recovery, which culminated in this key level.
After reaching this earlier, the price movement went back, creating a channel down or aside known as a handle, establishing a scene to break the prices. This is well reflected in Bitcoin’s price action from the beginning of 2024 to Q3 2024.
In particular, Bitcoin achieved this breakthrough from the formation of the cup and handle, exceeding the critical market resistance of USD 69,000. Based on linear calculations, Gert Van Lagen explains that the flagship cryptocurrency is to reach the target price of 120,000-130,000 USD-projection currently within Bitcoin, taking into account the current rush of the market.
However, Van Lagen also notes that the model of the cup and handle also indicates an interior target price of USD 300,000. Historically, BTC had previously achieved such logarithmic goals for the benefits of 100x in 2013-2017 and 21x in 2018-2021.
In addition, the novel weight of institutional capital, especially after approval of ETF Bitcoin in 2024, supports these stubborn perspectives. However, although this institutional participation signals long -term trust, BTC also reflects maturation. Currently, assets worth $ 2 trillion, the very size of Bitcoin can make parabolic movements less constant, despite the fact that the variability of the cryptographic market still leaves the potential of significant growth.
BTC price review
At the time of writing, Bitcoin trades at USD 107,794 after a petite profit of 0.64% on the last day. On the monthly chart, the most essential cryptocurrencies reports by 16.25% as the bull market persists.
Recommended photo from Istock, chart from TradingView
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