Crypto analyst TradingShot has previously predicted that Bitcoin's price could peak at $150,000 in this bull run, based on current trends. With Bitcoin nearing the $100,000 mark, TradingShot offers insights on its potential upward trajectory towards this target by 2025.
According to a TradingView post, Bitcoin has moved out of the 0.786 to 1.0 Fibonacci range, where it solidified its position from March to October 2024. The recent breakout was attributed to the US presidential elections, particularly because of Donald Trump's victory.
The analyst highlights that Bitcoin's price has shown aggressive rallies before, similar to those seen in May 2017 and November 2020. The angle of price increase suggests a major rally could lead to a price target of $300,000 by May 2025. However, $150,000 remains achievable based on historical patterns.
Though the outlook remains positive, crypto analyst Kevin Capital warns of uncertainties surrounding Bitcoin's price movements, pointing out significant liquidity concerns between $88,000 and $103,000. Additionally, Mikybull Crypto notes a potential cooling-off period for Bitcoin as it heads into altcoin season.
Data from Blockchain Center indicates altcoins have outperformed Bitcoin in recent months, signaling an altcoin surge. Current Bitcoin trading levels hover around $95,600, reflecting recent declines.
