Bitcoin investors may need to reconsider their 2025 price targets. One Bitcoin analyst believes that the new Bitcoin bottom is $110,000.
“You can kind of start lifting some of your targets and saying, “”Well, since we have proven that 110 is the floor, what do we do next?” James Check said An interview that was published Thursday on YouTube.
The base we’ve created is $2 trillion.” he said, referring to Bitcoin’s (BTC) market capitalization, which is currently sitting at around $2.42 trillion. “A trillion dollars has been proven. [in 2024]We’ve proven $2 trillion. [2025]Now the question arises: How many trillions?” he said.
Bitcoin at $95,000 is a floor, not a ceiling
“Over 60% of all dollars invested in Bitcoin exceeds 95k.” Check said. “It’s a lot more of a flooring than a ceiling.” he added, as holders will not be too interested in selling Bitcoin for less than what they paid for.
Check said that the “Most logical thing” is to go to $150,000, which would be an approximately $3 trillion market cap. “This is one of those nice binary markets and setups where you always have to keep two viewpoints at the same.
In December 2024, Galaxy Digital head of digital research Alex Thorn projected that Bitcoin could reach $150,000 in 2025, with potential to climb as high as $185,000.
With several bullish forecasts made this year as high as $250,000, market participants are considering how high Bitcoin might rise and how long it would take.
Bitcoin bulls are in control, says Check
However, Check said there is “no excuse for the market” to go down to $95,000. “We have proven that we want higher. The bulls are in control,” he said.
“If not, the bulls are weak sauce and we’re probably over for a period of time,” he added.
Related: Bitcoin due for squeeze as record $88B open interest sparks ‘flush’ worries
Bitcoin is trading at $121,392 at the time of publication, up just 0.80% over the past seven days, according to CoinMarketCap. A move to $150,000 would represent a 23.50% increase from its current price.
Capriole Investments founder Charles Edwards also believes the move to $150,000 may not be far off. On Oct. 2, he argued that Bitcoin reclaiming the $120,000 psychological mark may lead to a “very quick” breakout to a new all-time high of $150,000.
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Source: cointelegraph.com
