Sminston With, a crypto analyst, predicts Bitcoin's price might surpass $200,000 by leveraging the Decay Channel model. This prediction offers an alternative to traditional prediction models like the Rainbow Chart and Stock-to-Flow (S2F) model.
With's forecast suggests Bitcoin could reach between $199,106 and $207,623 but cautions that this might not occur before 2025. The Decay Channel model accounts for factors like diminishing returns and slowing growth as Bitcoin matures.
However, on-chain data, including the 350-day Simple Moving Average (SMA), indicates that Bitcoin’s maximum might realistically be $114,256. Additionally, Jurrien Timmer notes that Bitcoin's slower adoption rate compared to gold could hinder rapid price acceleration.
Despite reaching a high of $69,126, Bitcoin recently struggled to break the $70,000 mark and faces potential price drops, indicating rising bearish momentum. If this bearish trend persists, Bitcoin's price could fall to $62,995. Conversely, renewed bullish momentum might propel prices to surpass $73,000 in the near term.
