Bitcoin might be on the brink of further growth after reaching an historic peak on Sunday. Analysts suggest that the cryptocurrency could see significant gains, potentially climbing up to $150,000.
Analyst Insights
“Now that we’ve achieved new all-time highs (ATHs) in a rapid manner, the next phase toward $150K+ has started,” stated crypto expert CrediBULL Crypto. Bitcoin has recently climbed to a record high of $125,700.
CrediBULL added that we may ‘blast through’ this level soon but indicated that a minor dip could occur between $108,000 and $118,000.
Translation: ‘Dips into that zone of $108 to $118k are a blessing if we get them - and if not, well then enjoy the ride to $150k+’
Another trader, Crypto Chase, affirmed this outlook by predicting, “A new leg up seems likely,” emphasizing that short-term pullbacks, if they happen, would be minimal. James Wynn, a whale trader at Hyperliquid, expressed his belief that Bitcoin is poised for another ATH in the near future, suggesting that the price discovery phase is underway after a lengthy period of suppression.
The recent price movements occurred against the backdrop of the US government shutdown, which analysts believe may have led investors to consider Bitcoin a safe asset, thereby diversifying away from the US dollar amidst declining interest rates.
Jeff Mei from BTSE highlighted that as the US dollar’s value decreases, reallocating capital into Bitcoin and other currencies appears more rational. The US Dollar Index has plummeted by over 12% this year, marking one of its worst performances.
Will Clemente noted that the sharp rise in Bitcoin’s price is largely driven by the inflow of nearly $3.2 billion into spot Bitcoin ETFs in the US, suggesting these moves are more about reallocating assets than speculative trading.
Seasonal Trends
The combination of recent trends and historical seasonal patterns, especially strong performances in past Octobers, suggest Bitcoin could rally further. Michaël van de Poppe claimed that the speed from $110K to $125K in just a week reflects remarkable strength.
Charles Edwards previously predicted a rapid move to $150,000 following Bitcoin’s breakout above the $120,000 threshold.
