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Bitcoin could rise to $150,000, according to a crypto analyst
en|en#BTC94KShowdown- Renowned crypto analyst Michael van de Poppe has predicted that Bitcoin (BTC) will reach $150,000 in 2025, a 60% increase from its current levels. This optimistic forecast is based on Bitcoin’s impressive performance in 2024, where it surpassed the $100,000 mark and hit new highs, including $73,000 following the approval of Bitcoin Spot ETFs in January. The analyst attributes the potential growth of BTC to macroeconomic conditions, including the increasing global money supply and the difficulties facing the US economy.
De Poppe also predicts a labor market recession and economic recession in 2025, which could cause the money supply in the United States to grow very rapidly, which could push the price of Bitcoin up sharply.
However, the price may face obstacles before reaching the $150,000 level, as the analyst expected the price to drop by about 30% in the first quarter of this year before stabilizing near the $150,000 level, with the possibility of it rising further in 2026.
More optimistic forecasts within the sector, will Bitcoin reach $200,000 or even $500,000?
De Poppe’s predictions are indeed optimistic, although some analysts and institutions have been more optimistic. For example, crypto asset management firm Bitwise has predicted that Bitcoin will hit $200,000 in 2025, while industry analysts have suggested that the price could soar to an unprecedented $500,000 if the US adopts Senator Cynthia Lummis’ proposal to create a strategic reserve of BTC.
Despite these bullish forecasts, Bitcoin Spot ETFs have been in negative territory, with Farside Investors reporting a total of $415.1 million in outflows as of December 30, with Fidelity’s FBTC and Grayscale’s GBTC losing the most at $154.6 million and $134.5 million, respectively. However, BlackRock’s IBIT fund emerged as a major player with $52.4 billion in Bitcoin.
Bitcoin Price Forecast in the Short Term: Technical Analysis
Bitcoin price last read $94,171.15, down 1.25% in the last 24 hours, with a trading volume of $28.57 billion; the 4-hour price chart is showing a descending triangle pattern reflecting the negative sentiment, with resistance near $95,000, and the 50-day EMA at $94,870 is indicating selling pressure.
On the other hand, the nearest support level is at $92,000, where the formation of a double bottom pattern suggests that the price may stabilize temporarily. If the price breaks below this level, it may continue its decline towards the $89,613 and $87,314 levels respectively, but if the price succeeds in breaking the $95,000 level, it may continue its rise towards the resistance levels at $98,322 and $100,234 respectively.
Also, the RSI at 49 shows neutral momentum, which allows for bullish or bearish moves; traders are watching volumes closely to see if the price can rise above $95,000 or fall below the important support at $92,000.
Important points:
Resistance Levels: The next resistance levels are located at $95,000, $98,322, and $100,234 respectively.
Support Areas: The nearest support level is located at $92,000 followed by two more support levels at $89,613 and $87,314 respectively.
Technical Analysis Indicators: The formation of the descending triangle pattern and the double bottom pattern indicate conflicting influences on the BTC price direction.
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