Bitcoin (BTC), the world's most valuable cryptocurrency, ended its downward movement in early 2025 and managed to rise above the $100,000 level again. Bitcoin, which increased by 6.29% last week, recorded a 1.21% increase in the last 24 hours. As of the time of writing, BTC is traded at $100,720.
Bitcoin has attracted market attention by breaking above $100,000 for the first time since December 19, 2024. Now, Bitcoin’s short-term price movements continue to be a major topic of curiosity in the crypto industry. So, what could be the next target for Bitcoin’s price?
“The next target is $120,000”
Crypto analyst WealthSquad Chris shared his predictions about the future of Bitcoin with his 261 thousand followers on the X (formerly Twitter) platform. Chris stated that Bitcoin's short-term target is $ 107,500, followed by $ 120,000. Sharing his price expectations for 2025, the analyst believes that the price of BTC will fluctuate between $ 250,000 and $ 450,000. According to Chris, Bitcoin is currently consolidated at $ 100,000, and when this resistance is broken, he argued that $ 120,000 will be the next target.
High Aims by Mike Alfred
Another famous analyst, Mike Alfred, suggested that Bitcoin's downward movement is over. Alfred said that a short-term pullback could be seen, perhaps to $95,000 or $96,000, but then there would be a major rise. The analyst stated that the targets for Bitcoin were $130,000, $140,000, $150,000, $180,000 and $200,000, respectively. He then claimed that $315,000, $500,000 and even $700,000 were also possible.
One follower responded to Alfred's ambitious price predictions by saying, "These targets are quite optimistic, I disagree with you," while Alfred responded by saying, "Most people will disagree with me, but bear with me. If you lose or get hurt trying, you can't be held responsible."
Fibonacci Analysis and High Price Targets
Another analyst who evaluated the price of Bitcoin, MartyParty, made predictions using Fibonacci indicators. The analyst stated that Bitcoin successfully surpassed all Fibonacci extension levels since the $ 5,000 level in mid-2019. Based on this data, the analyst's price targets for Bitcoin are as follows: $ 172,000, $ 278,000, $ 382,000 and $ 500,000. MartyParty emphasized that the 1.0 Fibonacci level must be exceeded for the price of Bitcoin to reach $ 107,000. He said that a longer path must be traveled to reach other ambitious targets, such as the 2,618 Fibonacci level. According to the analyst, one of Bitcoin's biggest turning points will be at the 4,236 Fibonacci level, close to $ 450,000.
Trump's Election and Its Impact on the Crypto Market
After Donald Trump won the US presidential election, the crypto market has high expectations for 2025. Trump announced that he would accept BTC as a national reserve and promised to include crypto-friendly names in both his cabinet and regulatory bodies. According to analysts, Trump’s election victory could serve as a catalyst that could trigger a bull period in the crypto market. This could cause Bitcoin’s price to gain upward momentum.