Crypto analyst says that Bitcoin’s price is not likely to hit $200,000 in 2018. This is because the buying volume hasn’t increased enough to continue pushing it higher.
Bitcoin is a cryptocurrency that has recently been speculated by many industry leaders.BTCThe upcoming ‘200k mark will be reached soon
“How on earth can we be going up when there is no volume?” Glassnode’s lead analyst James Check said In an interview with Tuesday.
The goal is to reach $200,000 before the end of each year. “a big move”
“$200,000 in six months is a big move — that’s a big move,” Check it out. Check said. according Nansen,
“Could it happen? Absolutely. Is it likely to happen? Very improbable.”
“Until I see that volume kick in, until I feel a bit more confident, I am certainly not going to put on any levered positions,” Check that said “I’m probably not going to go out on the risk curve until I see that the market is stabilized.”
Check claimed that Bitcoin’s first step to reaching $200 was its surpassing of $120,000 on 14th July, but said there are still multiple stages remaining.
“Then we gotta get to $130, and 40, 50 [thousand], and it’s one thing to get there, it’s another thing to stay there,” He clarified.
He said that the price of Bitcoin could also fall if it rose too quickly without a strong and stable base. “You need to follow through; otherwise, you’re trading through air, and you’re going to trade like it’s air on the way back down,” He said.
Check acknowledges that “no one knows” Where Bitcoin is heading in price
He is still bullish and has most of his wealth in Bitcoin. In five years, he believes it will become the dominant currency. “well and truly” Price levels above $200,000
The prediction that Bitcoin could reach $200,000 per coin by 2025 is a very popular one
Several other analysts have also predicted that Bitcoin will reach $200,000 in 2025. Some even made the prediction as early as last year.
In May, Matt Hougan, chief investment officer at BitwiseBitcoin could reach $200,000 in 2025, due to an increase in institutional demand and a shock of supply.
Anonymous Analyst apsk32 also sees a $200,000 target in 2025This is a long-term pattern.
Related: Bitcoin liquidity wars carry on, but BTC price target remains $140K
“Looking at two-year segments centered today, 4, 8, and 12 years ago. Price scaling performed using the power curve trendline. Expecting $200,000+ Bitcoin in Q4,” apsk32 said.
Bernstein Research is a company that has been in the $200,000 forecast by the end of 2025 Since October 2024, increased demand from institutions through spot Bitcoin ETFs The following are some examples of how to get started: BTC treasury companies.
Rekt Capital is a crypto analyst. said earlier this month that Bitcoin It may be that the price cycle is only a few more months long, especially if the historical trend from 2020 continues.
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Source: cointelegraph.com
