According to a cryptocurrency analyst, Bitcoin will not reach $200,000 by the end of this year because buying volumes aren’t growing enough to push up prices.
Bitcoin has been the subject of speculation by several executives in recent months.BTCThe upcoming ‘200k mark will be reached soon
“How on earth can we be going up when there is no volume?” Glassnode Lead Analyst James Check said In an interview with Tuesday.
By the year’s end, you can earn up to $200,000 “a big move”
“$200,000 in six months is a big move — that’s a big move,” Check that. 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 it out “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 cautioned that Bitcoin’s price may fall as well if the rise in value is too rapid without stable, strong support. “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 has acknowledged this. “no one knows” Where Bitcoin is heading in price
Although he is bullish about Bitcoin and the future of its value, a large portion of his total net worth is in Bitcoin. He believes it will reach a significant level in 5 years. “well and truly” Above the $200 price level
Popular prediction: Bitcoin will reach $200,000 by 2025
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 BitwiseAccording to, Bitcoin will reach $200 000 by 2025 as a result of a demand shock caused by increased institutional demands.
Anonymous Analyst apsk32 also sees a $200,000 target in 2025The long-term trends are shown by.
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 You can also find out more about the following: BTC treasury companies.
Rekt Capital is a crypto analyst. said earlier this month that Bitcoin There may not be many months left of the current cycle’s price growth, particularly if this follows the historic pattern that began in 2020.
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Source: cointelegraph.com
