Bitcoin is unlikely to reach $ 200,000 this year as the purchase volume is not enough to continue to push the price higher, according to a crypto analyst.
It came after many industry executives recently thought that bitcoin (Btc) Close to $ 200,000.
“How in the world can we climb when there is no volume?” Glassnode Lead Analyst James Check Says In an interview last Tuesday.
$ 200,000 by the end of the year is “a big move”
“$ 200,000 in six months is a big move – that’s a big move,” Check said. He added that the current capitalization of the Bitcoin market of $ 2.38 trillion was nearly doubled, given a price of $ 119,541 at the time of publication, According to Kay Nansen.
“Can it happen? Absolutely. This is likely to happen? Very impossible.”
“Until I see the kick volume, until I feel a bit more confident, I certainly can’t put any positions with a lever,” Check said. “Maybe I’m not going to get out of the risk curve until I see the market stabilizing.”
Check said the first phase of Bitcoin reached $ 200,000 was over $ 120,000, which it did on July 14, but he claimed that there were still many stages left.
“Then we have to get to $ 130, and 40, 50 (thousand), and something to get there, another thing to stay there,” he explained.
He warned that if Bitcoin rises very fast without strong, stable support, the price can fall quickly. “You have to follow; otherwise, you trade through the wind, and you exchange it like the wind in return,” he said.
However, the Review recognized that “no one knows” where the price of bitcoin is going.
Despite this, he remains bullish, with most of his net worth of Bitcoin, and believes that in five years, it will be “well and real” than a price level of $ 200,000.
Bitcoin up to $ 200,000 in 2025 a popular call
Meanwhile, many other analysts are optimistic of Bitcoin’s chances of reaching $ 200,000 by the end of 2025, with several calls until late last year.
In May, Matt Hougan, Chief Investment Officer in BitwiseBitcoin said it was up to $ 200,000 at the end of 2025 due to a shock of supply from increased institutional demand.
Anonymous Analyst APSK32 Also visible a $ 200,000 target in 2025pointing to long -term patterns of trend.
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“Looking at the two-year segment centered today, 4, 8, and 12 years ago. Price scaling was performed using the Power Curve Trendline. It is expected to be $ 200,000+ Bitcoin in Q4,” APSK32 said.
Bernstein Research had a $ 200,000 forecast by the end of 2025 mentally since October 2024, which has been back by by increasing institutional demand by Spot bitcoin etf and BTC treasury companies.
However, the Crypto analyst re -returns capital Said earlier this month that bitcoin There may be only a few months of expanding the price left in the cycle, especially if it follows the same historical pattern from 2020.
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This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
