Scottie Pippen, a former American basketball player and now a strong Bitcoin supporter, believes that BTC is on track to reach new record highs in this market cycle.
Bitcoin’s Next Big Move?
While some analysts suggest that Bitcoin’s bull run might be over, Pippen sees things differently. Recently, CryptoQuant CEO Ki Young Ju, who previously believed in the ongoing bull rally, changed his stance, saying that on-chain data now indicates the bull run is over.
However, Pippen recently shared a BTC price chart on social media, comparing Bitcoin’s current performance with its bull run in 2020. His chart shows that Bitcoin has been following a similar pattern, which could lead to another massive surge.
Repeating the 2020 Bull Run
Back in 2020, Bitcoin remained stuck around $9,000 for months before it finally broke out in July, reaching over $12,000. It then faced some resistance, fell below $10,000 in September, and stayed low for a few weeks. Many thought the bull run was over.
But in late October 2020, Bitcoin made a strong comeback, rising continuously for over a year until it hit its all-time high (ATH) of $69,000 in November 2021.
Pippen’s chart suggests that Bitcoin is following the same path. Since November 2024, Bitcoin has surged past $109K, just like it did in mid-2020. The recent pullback and sideways movement resemble Bitcoin’s struggles in September-October 2020.
Bitcoin to $180K – Experts Agree
If Bitcoin continues to repeat history, Pippen’s chart predicts a few more weeks of sideways movement before a steady rally begins in July 2025. This could push Bitcoin beyond its previous ATH of $109K and potentially towards $180K.
Although Pippen didn’t specify an exact price target, other experts have made similar predictions. Last November, VanEck’s Matthew Sigel forecasted Bitcoin could reach $180K, based on its 2020 trajectory. In December 2024, Ryan Selkis, the founder of Messari, also stated he wouldn’t consider selling his BTC until it hit $180K.
Market analyst Gert van Lagen is even more bullish, recently predicting Bitcoin could go as high as $300K based on an inverse head and shoulders pattern.
Current Bitcoin Price
As of now, Bitcoin is trading at $85,743, up 3% in the last 24 hours. While some remain skeptical, many believe the bull run is still going strong.
Disclaimer: This article is for informational purposes only and should not be taken as financial advice. Always do your own research before making investment decisions.
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